The Hindu Business Line : KVB hikes deposit rates

Karur Vysya Bank has increased the interest rate on its domestic term deposits (including senior citizen deposits). The revision ranges between 25 and 125 basis points.

While a two-week deposit does not earn any interest, the bank has increased the rate by 25 basis point to 4.25 per cent for a deposit with tenure of 15 and 29 days and by 0.50 per cent for deposits with time bucket of 30 and 45 days to 4.75 per cent.

Thereafter, the increase has been 0.25 per cent for tenure of 46 and 90 days to 5.25 per cent, to 5.75 per cent for tenure of 91 and 179 days and to 6.25 per cent beyond 180 days up to one year.

Deposits between one and three years would fetch 7.25 per cent (6.50 per cent). The bank has increased the rate by one per cent for deposit with tenure of three and five years to 7.50 per cent and by 1.25 per cent to 7.50 per cent on deposits beyond 5 years.

On senior citizen deposits of one and 5 years, the rate has been revised to 8 per cent.

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