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Mangalore, Oct. 19

Karnataka Bank Ltd has revised interest rates on certain slabs of domestic term deposits with effect from October 20. A bank release here on Saturday gave the new rates as 10.6 per cent for deposits of one year to less than three years, 11 per cent for deposits of three years to less than five years, and 10 per cent for deposits above five years. The previous rates were 10.25 per cent for one year and above to two years, 10 per cent for two years and above to three years, and 9.5 per cent for above three years. There is no change in interest rates on deposits of slabs ranging from seven days to 364 days. The release said that the bank’s one-year deposit scheme — KBL Varsha — stands withdrawn from October 20.

— Our Bureau

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