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Karnataka Bank has increased interest rates on deposits by 25-50 basis points across various maturities with effect from August 16.
According to a press release from the bank, the interest rate on 121-180-day deposits has been hiked to 8.25 per cent (7.75 per cent), and that on 181-364 days to 8.25 per cent (8 per cent).
The rate for one-two-year deposits has been increased to 9.25 per cent (9 per cent).
For deposits above Rs 5 crore in this tenure, the rate is 9 per cent (8.75 per cent).
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