Karnataka Bank has increased interest rate on deposits by 25 basis points on all fresh retail term deposits of 1-2 years maturity period.
A bank release said here that the rate of interest on deposits has been increased from 9 per cent to 9.25 per cent with effect from March 1.
Quoting P. Jayarama Bhat, Managing Director of the bank, it said that the enhancement of interest on deposit will have positive impact on resource mobilisation.