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Karnataka Bank FD Rates

Karnataka Bank is one of the leading public-sector banks in India. It provides attractive interest rates to both regular individuals and senior citizens. It is the best option for investors who are investing in fixed deposits and earn higher interest rates as compared to saving accounts. The bank also provides a premature withdrawal facility without any penalty. Karnataka Bank FD rates offer retail services such as loans, mortgages, credit cards, etc. By investing in Karnataka Bank FD, you can get a hold of your wealth and build it forward with excellent Karnataka Bank FD rates.

Features & Benefits Of Karnataka Bank FD Rates

Here are the features & benefits of Karnataka Bank FD Rates-

  • It provides profitable interest rates with flexible FD tenures for your investment plan.
  • Visit near Karnataka Bank to open an FD account or also open by online.
  • No limitation on the FD of Maximum Amount 
  • FD Tenures: 7 days to 10 years
  • Many options for payout interest such as monthly, quarterly, etc.
  • It provides Loan/ Overdraft FD facility upto 85% of the FD amount.
  • Available Easy and fast liquidity options.
  • It also provides Nomination facility.
  • Through tax saving term deposit scheme tax benefit of amount up to Rs 1,50,000, 
  • Also available withdrawal facility and auto-renewal facilities 
  • Offers high interest rates for senior citizens as compared to regular citizens
  • Provide NRE, NRO and FCNR deposit facility 

 

Karnataka Bank FD Rates 2021

 

Karnataka Bank FD Rates in India 
Tenure Normal Citizen FD Rate Senior Citizen FD Rate
7 days to 45 days 3.50 % 4.00 %
46 days to 90 days 5.00 % 5.50 %
91 days to 180 days 5.60% 6.10 %
181 days to 364 days 5.60 % 6.10 %
1 year to 2 years 5.75 % 6.25 %
2 years to 5 years 5.65 % 6.15 %
5 years 1 day to 10 years 5.65 % 6.15 %

 

Types Of Karnataka Bank Fixed Deposit Rates

Here are the different types of Karnataka Bank Fixed Deposit Rates-

  1. Karnataka Bank Fixed Deposit Scheme
  2. Karnataka Bank Abhyudaya Cash Certificate (ACC)
  3. Karnataka Bank Tax Planner Scheme
  4. Karnataka Bank Soulabhya Deposit Scheme

 

Who is Eligible for Karnataka Bank Fixed Deposit?

Mentioned below are the persons who are eligible to invest in Karnataka fixed deposits (FD):

  • Individual
  • Minor
  • HUF
  • Proprietary Firm
  • Partnership Firm
  • Limited Liability Partnership (LLP)
  • Company
  • Association of Persons (AOP)
  • Body of Individuals (BOI)
  • Local Authority
  • Trust
  • Non-Resident Indian (NRI)
  • Registered Society

How To Calculate Karnataka Bank FD Rates

With the help of the Karnataka Bank FD Calculator, it is used to check how much interest you will earn on your principal amount. You need to enter the tenure (in months), amount, rate of interest, and the kind of fixed deposit scheme you need to apply for – and the calculator will calculate the number present to you with a breakup of the interest earned and the maturity amount. Karnataka Bank FD Calculator offers you exact, error-free, and accurate results for FD calculations without any hassle.

Moreover, there are many online sites that help you to instantly calculate the interest earned on your FD. You can use such online methods to calculate the interest generated on your Karnataka Bank FD. Many variations can be entered in these calculators as you want, to determine how much amount you want to invest and the interest generated on the deposited principal amount.

Factors Affecting Karnataka Bank Fixed Deposit Rates

Here are the factors that affect Karnataka Bank FD Rates-

  • With a short-term Fixed Deposit scheme, it provides attractive returns for their customers on their deposits. The bank’s short-term fixed deposit ranges from 7-45 days of the time period and avails the returns at 3.5% per annum.
  • For the mid-term fixed deposits, it allows the customers to hold 1-2 years with an additional interest of 0.85% on the rates to 7.75% per annum.
  • For the long-term holding of fixed deposits, the bank provides reasonable rates for the fixed deposits, and under the long-term fixed deposits category, it avails 7.5% of interest per annum which is almost provided by every bank.
  • Under this Karnataka Bank FD Rates scheme, citizens above the age of 60 years are eligible to apply. Karnataka Bank offers a good opportunity for the senior citizens who are investing in some profitable products. Bank provides an extra 0.5% of interest for senior citizens.

 

FAQs:

What is the Karnataka Bank FD minimum and maximum period?

Karnataka Bank Fixed Deposit of the minimum period is 7 days and the maximum is 10 years.

Who is eligible in Karnataka Bank for opening an FD account?

It is only eligible for all resident individuals such as minors and Hindu undivided families to open an FD account in Karnataka Bank.

What are the different types of Karnataka Bank Fixed Deposit Schemes?

There are 4 types of FD schemes in Karnataka Bank which include:
1. Karnataka Bank Fixed Deposit Scheme
2. Karnataka Bank Abhyudaya Cash Certificate (ACC)
3. Karnataka Bank Tax Planner Scheme
4. Karnataka Bank Soulabhya Deposit Scheme

Does it add nominees facility provided by Karnataka Bank in the FD account?

Yes, Karnataka Bank provides the facility to add nominees to the FD account.

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