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Karnataka Vikas Grameena Bank (KVGB) launched a new deposit scheme – Vikas Bonanza 456 – on Wednesday. Launching the new deposit scheme in Dharwad on Wednesday, S Ravindran, Chairman of KVGB, said the scheme is of a tenure of 456 days with interest rate of 7.10 per cent for public and 7.60 per cent for senior citizens. A minimum of ₹10,000 and maximum of ₹1 crore can be deposited under this scheme. The scheme is open for a limited period. Many senior citizens have expressed happiness over the rise in interest rate, he said. A press release said here that the bank has a network of 636 branches with total business of ₹23,686 crore. This includes deposits of ₹13,096 crore.
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