NEWS & ADVICE : FIXED DEPOSITS
Karnataka Bank revises domestic term deposit rates
By Neelima Shankar
May 13, 2009
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Private sector, Karnataka Bank Limited has revised its term deposit rates with effect from May 11th. The interest rates on domestic term deposits have been revised by the lender across all maturity slabs.

The term deposit rates of the bank as per the latest revision stand as follows:

Maturity periodInterest Rate

7days to 45 days

4%

46 days to 90 days

5%

91 days to 180 days

6%

18 days to 364 days

7%

1 year to less than 3 years

8.00%

3 year to less than 5 years

8.5%

5 years and above

9%

The bank is going to give an additional 75 basis points over the card rates to the senior citizens.

Meanwhile the revised rates of the bank are valid for all fresh deposits and renewals of maturing deposits from May 11th.

Recently the Mangalore based bank has also decided to restructure stressed loans worth Rs 300-350 crore. The bank has started receiving proposals from borrowers across the various sectors in the industry.

 


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