Karnataka Bank Hike Fixed Deposit Rate of below 2 Crores FD New Rates from 1 July 2022
Karnataka Bank FD Rates Increase: Since the start of the Karona epidemic and the Russo-Ukraine conflict it was a period of turmoil within the markets. The major IPOs which have flooded the market over the last few years have also led to massive losses for investors. Many people fallen victim to the IPO of LIC and Paytm. In this kind of situation today, people would rather put more money into investing options that are not based on any risk to the market.
In the past two months i.e. between May and June 2022 The Reserve Bank of India has made a decision to raise the rate of repo. Following this decision of the bank’s central regulator, many banks have increased their fixed deposit rate and the interest rates for savings accounts. Recently one of the banks in private industry Karnataka Bank (Repo Rate) has also decided to raise the interest rates on its FD accounts.
The bank will increase the value that is available for NRE Rupee deposit term by 10 basis point for the lesser that 2 crores. The new rate of interest will start starting the day of tomorrow i.e. starting on July 1st 2022. Let us inform that you more about the rate of interest and the regular FD interest rates offered by the bank under the NRE rupee Term deposit scheme.
This rate of interest is offered through special deposit FD SchemeOn Special deposit FD scheme that is under 2 crores you’re now given 5.35 percent rate of interest, in place of 5.25 per cent interest. This rate is applicable on FDs from 1 to 2 years. Also rather than 5.40 per cent interest for FDs between 2 and five years old, 5.50 percent rate will be offered.
Karnataka Bank getting so high interest on its regular FD schemes of under 2 million.
From 7 to 45 days – 3.40 percent
The duration ranges from between 46 and 90 days 4.90 Percent
From 91 days to 364 days-5.00%
FD from 1 – 2 years 5.25 percent
FD between 2 and 5 years -5.40 percent
FD between 5 and 10 years -5.40 5 – 10 years -5.40
Karnataka Bank is getting lots of interest in its 2-10 crores of FD scheme
From 7 to 45 days duration 3.40 Percent
The duration ranges from between 46 and 90 days 4.90 percent
From 91 up to 364 days-5.00%
FD from 1 – 2 years 5.35 5 %
FD between 2 and 5 years -5.60 5 %
FD between 5 and 10 years -5.70 5 – 10 years -5.70