Bank FD Rates 2024: KVB & Karnataka Bank Revised Interest Rates with 8% Interest

Two major banks have announced that they are revising the interest rates on deposits in their banks, offering a maximum interest of 8%. Karur Vysya Bank, a leading domestic private sector bank, has recently revised the interest rates of fixed deposits below 2 crores.

Similarly, Karnataka Bank has also changed interest rates on selected tenure deposits. The revised interest rates will come into effect from February 1, 2024. Let’s take a look at the interest rates offered by each bank.

Bank FD Rates 2024
Bank FD Rates 2024

Karur Vysya Bank FD Rates 2024

  • Karur Vysya Bank (KVB) presently provides 4% interest on tenure deposits ranging from 7 to 30 days. Additionally, for regular customers, it is offering 5.25% interest on deposits ranging from 31 to 90 days.
  • 6% interest for 91 days to 180 days.
  • An interest rate of 6.25% is given for a time period ranging from 181 days up to but not including 270 days.
  • They are offering a deposit scheme with an interest rate of 6.5% for a duration of 271 days to 332 days.
  • A special scheme is offering an interest rate of 7.40% for a period of 333 days.
  • Deposits ranging from 334 days to less than a year will earn 6.5% interest.
  • It is offering 7% interest for 443 days and 7.5% interest for 444 days.
  • 7% interest offered on 445 days to 5 years FD.
  • 5.9% interest is offered on Tax Saving FD.
  • 8% interest is being offered to senior citizens through a 444-day special scheme.
  • Also, seniors will get an additional 50 basis points of interest on other tenures.

Karnataka Bank FD Rates 2024

  • Karnataka Bank is giving 3.50% interest to regular customers on deposits of 7 days to 45 days.
  • 4% interest is offered on deposits of 46 days to 90 days.
  • It is offering 5.25% for 91 days to 179 days.
  • 6% interest is offered through a special scheme of 180 days.
  • It is offering 6% from 181 days to 269 days.
  • 6.50% interest is offered for deposits from 270 days to less than a year.
  • It is offering 7.10% interest on deposits within one to two years.
  • 7.40% interest is offered on deposits of 375 days.
  • 7.25% interest is offered through the 444 Days special scheme.
  • Deposits have been offering an interest rate of 6.50% for a period ranging from 2 to 5 years.
  • It is offering 5.80% interest on deposits of 5 years to 10 years.
  • Banks are offering an additional 50 basis points of interest to senior citizens on the respective tenures.

It is advisable to either visit a nearby branch or check the official website of the bank for the most recent and official details.

*Disclaimer: Above published information is only for reference purposes, for any changes on the content we refer to visit the official website, and we are not responsible for anything.