New Delhi. Even today, when it comes to investing, most people recommend FD i.e. Fixed Deposit. FD is considered to be a better option in terms of investment, which gives guaranteed returns. In this, more returns are available than the Savings Account. At the same time, the private sector’s Karur Vysya Bank i.e. KVB has changed the interest rates of fixed deposits.
Karud Vysya Bank has changed the interest rates on deposits of less than Rs 2 crore. The new rates have come into effect from January 12, 2022. Now fixed deposits will get interest ranging from 3.25 to 5.75 percent. At the same time, senior citizens will get 0.50 percent more.
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After the change, Karud Vysya Bank will give 3.25 percent interest on fixed deposits maturing in 7 to 90 days. Interest will be given at the rate of 3.50 percent on FDs of 91 to 120 days and 3.75 percent interest will be given on fixed deposits maturing in 121 to 180 days. Karud Vysya Bank will offer 4 per cent interest on fixed deposits of 181 to 270 days. Fixed deposits maturing in 5 years and above will get interest at the rate of 5.60 per cent.
term interest rate
7-14 days 3.25 per cent
15-30 days 3.25 per cent
31-45 days 3.25 per cent
46-90 days 3.25 percent
91-120 days 3.50 per cent
121-180 days 3.75 per cent
181-270 days 4.00 per cent
271 days – less than 1 year 4.25 percent
1 year – less than 2 years 5.15 percent
2 years – less than 3 years 5.25 percent
3 years – less than 5 years 5.40 percent
5 years and above 5.60 per cent
KVB – Tax Shield 5.75 percent
0.5 percent more interest to senior citizens
Senior citizens get 0.50 percent more interest on fixed deposits than regular customers. After the latest changes, senior citizens will get an interest of up to 5.90% on FDs maturing in one year to 5 years. Whereas, non-senior citizens like Under the KVB-Tax Shield scheme, the new rates for senior citizens will also be 5.75 percent.
Tags: Bank FD, Fixed deposits