Media release
Mangaluru, June 29: The Karnataka Bank has increased interest rates on its domestic and NRE rupee term deposits for amount below Rs 2 crore as following, 10 BPS increase for one to two years period deposits as well as above two years to five years deposits.
Accordingly, the rate of interest for 1-2 years deposits will be 5.35 % p a and above two years to five years, the rate will be 5.50 % p a. The above rates are effective from July 1 this year.
The upward revision in the deposit interest rate will encourage retail customers to invest more in various term deposit schemes of the bank. a release from the bank said.