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Our Bureau

Mangalore, April 18

The Dharwad-headquartered Karnataka Vikas Grameena Bank (KVGB) — a regional rural bank sponsored by Syndicate Bank — has increased the interest on its term deposits with effect from April 16, according to a bank release here. Deposits of one year and above attract an interest of 9.5 per cent (8.5 per cent) with this revision. Senior citizens are eligible to get an additional interest of 1 per cent over and above the applicable rate on term deposits with an overall ceiling of 10.25 per cent, it said. The revised rate of interest for deposits of 15 days to 45 days is 4.25 per cent (4.25 per cent); 46 days to 90 days is 6 per cent (5.25 per cent); 91 days to 179 days is 6.5 per cent (6 per cent); 180 days to 364 days is 8 per cent (6.5 per cent); and one year to 3 years is 9.5 per cent (8.5 per cent).

More Stories on : Regional Rural Banks | Interest Rates | Fixed Deposits | Karnataka

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