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Karnataka Bank hikes interest rates

Karnataka Bank hikes interest rates

There will be 10 basis points (BPS) increase for 1 to 2 years period deposits and 20 BPS increase for above 2 years to 5 years deposits.

Karnataka Bank hikes interest rates Karnataka Bank hikes interest rates

City-based leading private sector Karnataka Bank has increased interest rates on its domestic and NRE rupee term deposits for amount ranging from Rs 2 crore up to Rs 10 crore, a bank release here said.

There will be 10 basis points (BPS) increase for 1 to 2 years period deposits and 20 BPS increase for above 2 years to 5 years deposits. Accordingly, the rate of interest for 1-2 years deposits will be 5.35 per cent per annum and above 2 years to 5 years and above 5 years to 10 years the rate will be 5.60 per cent and 5.70 per cent respectively.

The above rates are effective from Friday, June 10, the release said.

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