Karnataka Bank hikes interest rates

Karnataka Bank hikes interest rates

Mangalore Today News Network

Mangaluru, May 22, 2022: Karnataka Bank has increased interest rates on its Domestic and NRE Rupee term deposits (one to two years term) by 15 basis points to 5.25% per annum from 5.10% per annum for deposits upto Rs.10 crore. The above rate is effective from May 21, 2022.

Speaking on the occasion, Mahabaleshwara M.S., the Managing Director & CEO of the bank, said: “This upward revision in the deposit interest rate is in line with the market trend and is expected to encourage the public to invest more in the bank’s various term deposit schemes.”