Karnataka Bank Fixed Deposit

About Karnataka Bank

Life is full of uncertainties and so you need to step up your fight to keep those at bay. And what comes as a fighting tool is the fixed deposit of Karnataka Bank that enjoys a strong nationwide presence with branches spread across 21 states of India. The Mangalore-headquartered bank has spread its wings in the entire banking spectrum, be it retail banking, corporate banking, investment banking or the asset management. As far as fixed deposits are concerned, the bank offers four types of services- Fixed Deposit Account, Abhyudaya Cash Certificate (ACC), Soulabhya Deposit and KBL-TAX PLANNER-FD and KBL-TAX PLANNER-ACC. The interest rate is also attractive in the range of 3.50%-7.40% per annum depending on the schemes and the period for which you have deposited the money. So, without any ado, let’s see the interest table of Karnataka Bank Fixed Deposit Schemes.

Interest Rates on Domestic Term Deposits

Period of DepositInterest Rate for Deposits of Upto ₹ 1 CrInterest Rate for Deposits Between ₹ 1 Cr-10 Cr
(W.E.F.29th August,2017)
7-45 Days3.50%3.50%
46-90 Days5.00%4.50%
91-179 Days6.50%6.00%
180 Days6.90%---
181-364 Days6.50%6.00%
1-2 Years6.70%6.15%
More than 2 Years-10 Years6.50%---

Interest Rate for Senior Citizens (For FD and ACC Only)

Period of DepositInterest Rate for Deposits of Upto ₹ 1 CrInterest Rate for Deposits Between ₹ 1 Cr-2 CrInterest Rate for Deposits Between ₹ 2 Cr-10 Cr
7-45 Days4.00%4.00%3.50%
46-90 Days5.50%5.00%4.50%
91-179 Days7.00%6.50%6.00%
180 Days7.40%------
181-364 Days7.00%6.50%6.00%
1-2 Years7.15%6.65%6.15%
More than 2 Years-10 Years7.00%------

 

Karnataka Bank Fixed Deposit Schemes

The names of fixed deposit schemes have already been stated in the article. Now let us discuss these schemes.

Fixed Deposit Account

As a standard fixed deposit scheme, it gives you the privilege of depositing a lump sum amount and earn interest on it. The minimum deposit amount is ₹100 and in multiples of Rs 10 afterwards. The period of deposit ranges from 7 days-10 years, giving you ample time to shore up your capital. Nomination facility and premature withdrawal are allowed subject to the guidelines of the bank.

Abhyudaya Cash Certificate (ACC)

This is a reinvestment deposit wherein the rate of interest is compounded on a quarterly basis. The minimum amount and tenure of deposit are ₹100 and 6 months-10 years, respectively. You can also avail loan, premature withdrawal and nomination facility as per the bank guidelines.

Soulabhya Deposit

A flexible fixed deposit plan that allows an individual to withdraw ₹1,000 or multiples of the same as and when needed, without lowering your interest rates on the remaining amount.

KBL-TAX PLANNER-FD and KBL-TAX PLANNER-ACC

A delight for depositors, the scheme offers high returns, as well as help, save taxes. Any individual, Hindu Undivided Family (HUF), minor or joint holder, with a minimum deposit of ₹100, can book for this scheme. The minimum deposit period is 5 years for the scheme.

Karnataka Bank Fixed Deposit Calculator

The fixed deposit calculator is a tool by which you can compute the proceeds, including interest, payable on your deposit at the time of maturity. You just have to feed data like the amount of deposit, interest rate, compounding frequency, tenure of deposit in the calculator to compute the same. So, calculate, deposit, earn and secure your future with the fixed deposit calculator.

How to Apply?

Applying for fixed deposit of Karnataka Bank is easy with the availability of application form on both online and offline platforms. The former option requires you to visit the bank’s website and download the form, while you have to visit the branch to get the form with the latter option. Irrespective of the options, you have to fill in the details, affix your signature at the prescribed place in the form and submit it to the concerned bank official for the processing of your application. The bank will open a fixed deposit account subject to successful verification of the details.

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