Karnataka Bank hikes deposit rate

Karnataka Bank Ltd has raised interest rates on its domestic and NRE rupee term deposits by 10 basis points for a period of one year to two years. A press release by the bank said here that the interest rate on its domestic and NRE rupee term deposits up to ₹10 crore has been increased from 7.25 per cent to 7.35 per cent with effect from June 27. Senior citizens are eligible for additional 0.50 per cent interest over the general rate on domestic term deposit up to ₹5 crore across all maturity slabs, it said.