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Karnataka Vikas Grameena Bank (KVGB), a regional rural bank headquartered in Dharwad, has launched a 1,111-day deposit scheme.
While launching the ‘Vikas Siri Sampat-1111’ scheme in Dharwad on Friday, P Gopi Krishna, Chairman , said the 1,111 days deposit offers 5.70 per cent interest for the general public and 6.20 per cent for the senior citizens. A minimum of ₹10,000 and maximum of ₹2 crore can be deposited under the scheme.
Offered for the limited period, Gopi Krishna urged the customers to reap the benefit of better rate of interest.
The bank’s aim is to encourage savings among the people, he said, adding, it is expecting good response during the current financial year.
The bank has a network of 629 branches in Dharwad, Gadag, Haveri, Belagavi, Bagalkot, Vijayapura, Uttara Kannada, Udupi and Dakshina Kannada districts of Karnataka.
The bank’s total business stood at ₹30,750 crore during 2021-22. This included deposits of ₹17,647 crore and advances of ₹13,103 crore.
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