Karnataka Bank, one of India's leading public-sector banks was founded in the year 1924 in Mangalore. The Reserve Bank of India (RBI) has scheduled Karnataka Bank as the A1+ commercial bank of the country due to its presence spread across 21 states of the country. The bank is offering its customers with some amazing fixed deposit schemes with attractive returns.
At loanbaba.com, we will share updated information about best fixed deposit rates, FD India schemes of the bank and Karnataka Bank FD rates over all tenures for fixed deposit and term deposit. You will also come to know about popular FD rates, India by the bank for 2017 and FD interest rates that are the highest.
People looking for good returns on their investments can be pleased to know that Karnataka Bank's Short-Term Fixed Deposit scheme provides the customers with attractive returns on their deposits. The bank's short-term holding ranges for the period of 7-45 days and avails the returns at 3.5% per annum.
Moreover, for the tenure of 46-90 days, the returns can be pegged at 6.5% per annum, and it gets a 0.75% raise to 7.25% per annum for the holding period of 3-4 months. Moreover, the highest rate offered by the bank is 7.7% per annum for the deposit period ranging between 4-6 months.
For the mid-term fixed deposits, the bank offers the customers with an additional 0.85% on the rates to 7.75% per annum for the mid-term holding of 1-2 years.
For the long-term holding of 2-5 years, the bank offers attractive rates for the fixed deposits, and it avails 7.5% per annum which is the ongoing value of interests provided by almost every bank under the long-term fixed deposits category.
The citizens of India above the age of 60 years are eligible to apply under this scheme. Karnataka Bank provides a great opportunity for the senior citizens who are looking to invest in some profitable products. The senior citizens can avail an extra 0.5% of the above-mentioned rates for the deposits.