Karnataka Bank have modified Rate of interest on both your domestic and NRE fixed deposit interest rates. The revised interest rates are effective from July 29, 2022. It will now offer 3.40 percent interest rate on fixed deposits maturing in 7 to 45 days and 4.90 percent interest rate on fixed deposits maturing in 46 to 90 days. Fixed deposits maturing in 91 days to 364 days will attract 5 per cent interest, while fixed deposits maturing in 1 year to 2 years will have to pay 5.50 per cent. Karnataka Bank will pay 5.65 percent interest on deposits maturing in 2 to 5 years and 5.70 percent on deposits maturing in 5 to 10 years.

According to the website, “only for domestic FDs and schemes (not for deposits under NRE/NRO/FCNR(B) accounts) up to Rs 5 crore at the normal rate of 0.40% additional resident senior citizens from 1 to 5 only. for tenor. year and 0.50% additional than the normal rate for tenure of 5 to 10 years with effect from 09.11.2020. Senior Citizen interest rate benefit is withdrawn for fixed deposits of less than 1 year.”

NRE Rupee Fixed Deposit

The bank will offer interest rates ranging from 5.50 per cent to 5.70 per cent on NRE fixed deposits with tenures ranging from one year to ten years.