Karnataka Bank raises interest rates on domestic and NRE rupee term deposits

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

AgenciesUpdated: Friday, June 10, 2022, 01:01 PM IST
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The rates are effective from Friday, June 10. / Representative image |

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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