KVB FD Interest Rates
Karur Vysya Bank is one of the well-known public sector banks in India. It provides the benefit of receiving interest at regular intervals and is suitable for persons who are dependable on regular interest income. KVB Bank offers various tenures as per customer convenience and financial objectives. It provides attractive interest rates on FDs for its customers. KVB Bank FDs provide flexibility of receiving interest rates to its customers. KVB Bank FD offers excellent returns and allows you to achieve financial goals easily.
Features & Benefits Of KVB Bank FDs
Here are the features & benefits of KVB Bank FDs-
- It provides profitable interest rates with flexible FD tenures for your investment plan.
- Visit near KVB Bank to open an FD account or also open online.
- No limitation on the FD of Maximum Amount
- FD Tenures: 7 days to 10 years
- Many payout interest options such as monthly, quarterly, etc.
- It provides Loan/ Overdraft FD facility up to 85% of the FD amount.
- Available Easy and fast liquidity options.
- It also provides a Nomination facility.
- Through tax saving term deposit scheme tax benefit of an 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
KVB Bank FD Rates 2021
|Normal Citizen FD Rate||Senior Citizen FD Rate|
7 days – 2 months 29 days
|3 months – 3 months 29 days||3.5%||
3 months 30 days – 5 months 27 days
|6 months – 8 months 28 days||4%||
8 months 29 days – 11 months 30 days
|1 year – 1 year 11 months 30 days||5.25%||
2 years – 4 years 11 months 29 days
|4 years 11 months 30 days – 9 years 11 months 29 days||5.75%||
Types Of KVB Bank Fixed Deposit Rates
Here are the different types of KVB Bank Fixed Deposit Rates-
- Fixed Deposits for general citizens, NREs, and NGOs
- Fixed Deposits for senior citizens
- KVB Tax Shield Scheme
- Karur Vysya Bank Flexi Term Deposit scheme
Who is Eligible for The KVB Bank Fixed Deposit
Mentioned below are the entities who are eligible to invest in KVB Bank fixed deposits (FD):
- Proprietary Firm
- Partnership Firm
- Limited Liability Partnership (LLP)
- Association of Persons (AOP)
- Body of Individuals (BOI)
- Local Authority
- Non-Resident Indian (NRI)
- Registered Society
How To Calculate KVB Bank FD Rates
Karur Vysya Bank FDs provides an online interest calculator that helps you to calculate the maturity value of your fixed deposit at the interest rate. The amount of KVB Bank FD interest rate of deposit tenure and compounding frequency shows the maturity amount of the FD at the end of the tenure. 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 KVB Bank FD. You need to deposit 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. Using KVB Bank FD Calculator offers you exact, error-free, and accurate results.
Many differences can enter as you want, to determine how much amount you want to invest and the interest generated on the deposited principal amount.
Factors Affecting KVB Bank Fixed Deposit Rates
Here are the factors that affect KVB Bank FD Rates-
- For short-term FDs, KVB Bank provides a fixed deposit period of 7-14 days that can benefit from a return of 5.5% per annum which is possibly the best as compared to the other financial rates of institutions. The rate of interest is calculated at 5.5% per annum for the tenure ranging between 15-30 days, and for the period of 31-45 days, it gets increased by 0.5% to 6% per annum of the deposit amount.
Moreover, for the holding period of three to six months, one can use the attractive interest rate of 7.5% per annum. However, the bank offers a competitive return for the tenure of six to nine months of 7.35% per annum and remains constant for the tenure of nine months to one year.
- For holding mid-term FDs, the deposit period of 1-2 years of FDs at the rate of 7.35% per annum remains the same. On the other hand, the tenure of 2-3 years at 7.35% per annum is one of the better rates as compared to the other financial interest rates of institutions on the same holding in investment terms.
- The rate of interest can be pegged at 7.35% per annum for a holding period of more than three years.
- Under this KVB Bank FD Rates scheme, individuals above the age of 60 years are eligible to apply. Bank provides an extra 0.5% of additional interest for senior citizens for the holding period of one year or more than that.
What is the Karur Vysya Bank eligibility for opening an FD account?
KVB Bank fixed deposits account only eligible for Individuals, HUF, Trust, Partnership firms, Companies, Associations.
Is there any minimum amount in KVB Bank for opening a Fixed Deposit?
In KVB Bank The minimum amount for opening Fd is INR 1000. Moreover, in KVB FD there is no limitation on the maximum amount of investment.
Can a customer open an FD account in Karur Vysya Bank online?
Yes, in KVB Bank customers can open online FD accounts through an internet banking facility.
What is the Karur Vysya Bank’s highest fixed deposit interest rate?
In Karur Vysya, the highest interest rate of FDs is 5.75% for a tenure of 5 years. And for senior citizens, the highest rate is 6.15% for a tenure of 5 years.