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Karnataka Bank trims interest rate

Karnataka Bank has reduced interest rates for term deposits from November 20.

The interest rate for term deposits from seven-90 days, however, is unchanged. Under the deposit scheme for senior citizens, an additional 1 per cent (0.75 per cent) over and above the normal rate will be paid for deposits with maturities of one year and beyond. These rates of interest will be applicable for all fresh deposits and renewals of maturing deposits.

BL Research Bureau

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