Karnataka Bank Ltd has increased interest rates on its domestic and NRE rupee term deposits for amounts ranging from ₹2 crore and up to ₹10 crore.
A statement said the bank has increased the interest rate by 10 basis points (bps) for deposits of one to two years. For deposits above two to five years, the interest rate has been increased by 20 bps.
Accordingly, the rate of interest for one- to two-year deposits will be 5.35 per cent per annum. For deposits of two to five years and between five to 10 years, the rate of interest will be 5.60 per cent per annum and 5.70 per cent per annum, respectively. The above rates are effective from June 10.