Latest News | Karnataka Bank Raises Interest Rates on Deposits by 15 Basis Points
Get latest articles and stories on Latest News at LatestLY. Karnataka Bank on Friday said it has raised interest rates on term deposits in domestic as well as non-resident external rupee accounts by 15 basis points to 5.25 per cent per annum.
New Delhi, May 20 (PTI) Karnataka Bank on Friday said it has raised interest rates on term deposits in domestic as well as non-resident external rupee accounts by 15 basis points to 5.25 per cent per annum.
Karnataka Bank has increased interest rates on its domestic and NRE (Non-Resident External) rupee term deposits (1 to 2 years term) by 15 basis points to 5.25 per cent per annum from 5.10 per cent per annum for deposits up to Rs 10 crore, the bank said in a release.
Also Read | Sony Bravia X80K Smart TV Launched in India at Rs 94,990.
The rate is effective from May 21, 2022.
Mahabaleshwara M S, managing director & CEO of Karnataka 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."
Also Read | Vivo Y75 Debuts in India, Now Available for Sale.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)