Karnataka Vikas Grameena Bank (KVGB) has launched a new deposit scheme ‘Vikas Ashadeep 400 days’.
Shreekant M Bhandiwad, Chairman of KVGB, who launched this scheme, said the scheme is of a tenor of 400 days with an interest rate of 7.50 per cent for senior citizens and 7 per cent for general public.
Under the scheme, a minimum of ₹10,000 and a maximum of ₹2 crore can be deposited.
Bhandiwad said the scheme is applicable to all segments of depositors, including senior citizens, and institutions. The scheme is open for a limited period, he added.
The bank has a network of 639 branches with total business of ₹33350 crore. This included ₹18710 crore of deposits and ₹14640 crore of advances.