The Hindu Business Line : KVB hikes deposit rates

Karur Vysya Bank has decided to increase the interest rate on domestic term deposits by 50 basis points for tenure between three and five years from June 1. The interest rates, however, would continue to remain the same for deposits with tenure of less than three years and beyond five years. The new rate, according to a bank release, would be applicable only to fresh and renewed deposits. Deposits placed by Charitable and Religious Trusts would attract an additional 0.5 per cent over and above the applicable rate across all time brackets.

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