Money & Banking

Karnataka Bank hikes deposit rates

BL Mangaluru Bureau | | Updated on: May 20, 2022

Hikes 1-2 years term deposit rate by 15 basis points to 5.25 per cent

Karnataka Bank has increased the interest rate on its domestic and NRE rupee term deposits (one to two years term) by 15 basis points to 5.25 per cent per annum from 5.10 per cent for deposits up to ₹10 crore effective May 21.

Quoting Mahabaleshwara MS, Managing Director and Chief Executive Officer of the bank, a statement said that this upward revision in the deposit rate is in line with the market trend and is likely attact investors .

Published on May 20, 2022
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