Karnataka Vikas Grameena Bank hikes deposit rates

BL Mangaluru Bureau | | Updated on: Aug 03, 2022
P Gopikrishna, Chairman, KVG Bank

P Gopikrishna, Chairman, KVG Bank

KVGB increases deposit interest rates for maturity period above 46 days with effect from August 1

Karnataka Vikas Grameena Bank (KVGB), a regional rural bank headquartered in Dharwad, has increased domestic term deposit interest rates for the maturity period of above 46 days with effect from August 1.

P Gopi Krishna, Chairman of KVGB, said the upward revision in the deposit interest rate is in-line with the market trend and is expected to encourage the public to invest more in the bank’s various term deposit schemes.

The revised rates are:

No. of days/ periodPrevious rateNew rate
46 days to 60 days4 per cent4.10 per cent
61 days to 90 days4.20 per cent4.25 per cent
91 days to 180 days4.50 per cent4.60 per cent
181 days to 364 days4.85 per cent4.90 per cent
One year and below two years5.40 per cent5.65 per cent
Two years and below three years5.55 per cent5.80 per cent
Above three years 5.60 per cent5.90 per cent
Special deposit for 1111 days5.70 per cent6 per cent

Senior citizens are eligible for additional interest of 0.50 per cent over the card rate on term deposit up to ₹2 crore and with maturity tenor of one year and above only.

Published on August 03, 2022
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