Karnataka Bank FD rate Hike: The new rate has been implemented from May 21, 2022. According to the bank’s official website, the new interest rate on FDs from 7 days to 45 days is 3.40 percent per annum.
Karnataka Bank FD rate Hike: Karnataka Bank of the private sector has increased the interest rates on fixed deposits (FD) in domestic and non-residence foreign rupee accounts by 0.15 percent to 5.25 percent per annum. According to the news of PTI, the bank said in a press release that Karnataka Bank has offered interest rates (Karnataka Bank) on its domestic and NRE (citizens residing outside the country) fixed deposits (tenure of one to two years) of Rs. Bank FD rate) has been increased by 15 basis points to 5.25 percent per annum. It will be 5.10 per cent per annum for deposits up to Rs 10 crore.
New rates are applicable from today
According to the news, the new rate has been implemented from May 21, 2022. According to the bank’s official website, the new interest rate on FDs from 7 days to 45 days is 3.40 percent per annum. Similarly, on FD of 46 days to 90 days, 4.90 percent per annum, interest on FD (Karnataka Bank FD rate Hike) for 91 days to 364 days is getting 5 percent.
Interest on FD for long term
Similarly, the interest rate on FDs from one year to less than 2 years (Karnataka Bank FD rate) is 5.25 percent. If you make an FD for 2 years to 5 years, that will get 5,40 percent annual interest. If you make an FD for 5 years to 10, then you will be offered 5.50 percent interest annually.
Many banks have increased interest on FD
Earlier, many government and private sector banks have increased the interest rate on FD (Karnataka Bank FD rate). This hike was announced by the Reserve Bank of India in the recent hike in the repo rate by 0.40 percent. Only after this the banks increased the interest on the loan as well. Due to this it has become expensive to take home loan, car loan, personal loan.
