The Hindu Business Line : Karnataka Bank hikes deposit rates

A bank release said here on Saturday that the rates would be applicable to fresh deposits and renewals of maturing deposits. Following are the interest rates for deposits up to Rs 5 crore with the earlier rates given in brackets.: 4.5 per cent (4.25 per cent) for maturity pattern of seven days to 14 days; 4.5 per cent (4 per cent) for 15 days to 45 days; 5.5 per cent (5 per cent) for 46 days to 90 days; 6.5 per cent (6 per cent) for 91 days to 180 days; 7.5 per cent (7 per cent) for 181 days to less than a year; 8.5 per cent (7.5 per cent) for one year to less than two years; 9.25 per cent (7.5 per cent) for two years to less than three years; 9.5 per cent (7.75 per cent) for three years to five years; and 9 per cent (8 per cent) for maturity pattern of above five years.

The release said that the bank has a special deposit scheme for 600 days, carrying an interest of 9.25 per cent. The interest rate for deposits of senior citizens in this scheme is 10 per cent.

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