Mangaluru, May 20: Karnataka Bank has increased interest rates on its domestic and NRE Rupee term deposits (1 to 2 years term) by 15 basis points to 5.25% p. a. from 5.10%p. a. [for deposits upto Rs.10 crores]. The above rate is effective from May 21, 2022.
Speaking on the occasion, Mahabaleshwara M S, the managing director & CEO of the bank said “This 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 our Bank’s various Term Deposit Schemes.”