Karnataka Bank has hiked interest rates on domestic term deposits by 25 basis points. The revised rates will be effective from November 7, said a press statement by the bank.
Following are the revised rate of interest for different maturities: 8 per cent for 121-180 days, and 8.50 per cent for 181-364 days. In the maturity band of one-two years, the bank will offer 9.50 per cent for deposits below Rs 5 crore, and 9.25 per cent for deposits above Rs 5 crore.
In the case of of two-three-year tenures, the bank will offer 9.25 per cent for deposits below Rs 5 crore, and 9 per cent for deposits above Rs 5 crore.
For term deposits above three years, the rate is 9 per cent.