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Karnataka Vikas Grameena Bank (KVGB), a regional rural bank headquartered in Dharwad, has increased domestic term deposit interest rates for the maturity period of above 46 days with effect from August 1.
P Gopi Krishna, Chairman of KVGB, said the upward revision in the deposit interest rate is in-line with the market trend and is expected to encourage the public to invest more in the bank’s various term deposit schemes.
The revised rates are:
| No. of days/ period | Previous rate | New rate |
|---|---|---|
| 46 days to 60 days | 4 per cent | 4.10 per cent |
| 61 days to 90 days | 4.20 per cent | 4.25 per cent |
| 91 days to 180 days | 4.50 per cent | 4.60 per cent |
| 181 days to 364 days | 4.85 per cent | 4.90 per cent |
| One year and below two years | 5.40 per cent | 5.65 per cent |
| Two years and below three years | 5.55 per cent | 5.80 per cent |
| Above three years | 5.60 per cent | 5.90 per cent |
| Special deposit for 1111 days | 5.70 per cent | 6 per cent |
Senior citizens are eligible for additional interest of 0.50 per cent over the card rate on term deposit up to ₹2 crore and with maturity tenor of one year and above only.
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