Private sector lender Karur Vysya Bank has increased interest rates on fixed deposits of less than Rs. The official website of 2 crore bank states that the higher rates will be effective from August 16, 2022. As per the revised, the bank is now offering interest rates ranging from 4.00% – 6.00% to the general public on fixed deposits maturing in 7 days. 6.25% – 6.50% for senior citizens and 6 years and above, and 6.25% – 6.50% on fixed deposits maturing in less than 10 years from 1 year to 6 years.
Karur Vysya Bank FD Rates
The bank has increased the interest rate by 75 bps on fixed deposits maturing in 7 days to 45 days from 3.25% to 4.00% and on fixed deposits maturing in 46 days to 90 days, the bank has increased the interest rate from 3.50% to 4.25. % 75 bps increase. Fixed deposits maturing in 91 days to 120 days will now offer an interest rate of 4.50% which was earlier 3.75% an increase of 75 bps and Fixed deposits maturing in 180 days from 121 days will now offer an interest rate of 4.50% Which was earlier 4% increase of 50 bps.
Karur Vysya Bank will now offer an interest rate of 5.00% which was earlier 4.75% by 25 bps on fixed deposits maturing in 270 days in 181 days and the bank has increased the interest rate from 5% to 5.25%, of 25 Increase by 271 bps on term deposits maturing in days to less than 1 year. The interest rate on fixed deposits maturing in 1 year less than 2 years has been increased from 5.55% to 5.75%, with an increase of 20 bps and on fixed deposits maturing in 2 years less than 3 years In 2014, the bank increased the interest rate from 5.60% to 5.85% by a hike of 25 bps.
Fixed deposits maturing in 3 years to less than 5 years now offer 6.00% interest rate as against 5.80% earlier and fixed deposits maturing from 5 years to less than 6 years now offer 6.00% interest rate It will increase by 10 bps which was earlier 5.90%. The bank will continue to offer an interest rate of 6% on fixed deposits maturing in 6 years and above. On KVB – Tax Shield, Tax Saving Scheme for 5 years, the bank will continue to offer an interest rate of 5.90%.
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Karur Vysya Bank FD Rates for Senior Citizens
on fixed deposits of less than 2 crore, maturing in 1 year to 10 years, senior citizens will continue to get an additional rate of 0.50% over and above the regular rate. On fixed deposits maturing from 3 years to less than 10 years, senior citizens will now get a maximum interest rate of 6.50% as a result of the amendment.
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