Karnataka Bank offers a range of services, including fixed deposits, personal banking, NRI banking, business banking and agricultural banking services online. It includes Fixed Deposit accounts offered by various banks and financial institutions in the state of Karnataka, India. FD Karnataka Bank is considered a low-risk investment, making it suitable for conservative investors seeking steady growth in their savings. The Karnataka Bank FD rates may vary depending on the bank and the tenure chosen. This information can be easily calculated using the Karnataka Bank FD calculator.
The table displays the Fixed Deposit (FD) interest rates for different maturity tenures that a financial institution offers to regular customers and senior citizens. Karnataka Bank FD rates vary slightly for longer tenures, with the highest rate being 6.10% for senior citizens investing in the 5 years to 9 years 11 months 29 days tenure. Have a look for more details:
|Maturity Tenure||Regular Customers||Karnataka Bank FD rates for Senior Citizens|
|7 days to 1 month 4 days||3.40||3.40|
|1 month 15 days to 2 months 29 days||4.90||4.90|
|2 months 30 days||5.10||5.10|
|1 year to 2 years||5.20||5.60|
|2 years 1 day to 4 years 11 months 30 days||5.50||5.90|
|5 years to 9 years 11 months 29 days||5.60||6.10|
The following is a list of requirements to open an FD in Karnataka as stated below:
- Proprietary concerns
- Hindu Undivided Families (HUFs)
- Partnership firms
- Public and Private companies
- Specified Associates/Trusts/Societies
- Government departments
- Limited Liability Partnerships
For the purpose of starting a Karnataka Bank FD, the following documents must be provided:
- Identity documents accepted by the government, such as a passport, an Aadhar card, a driver’s license, a PAN card and a voter ID
- A government-approved form of identification, such as a phone bill, an Aadhar card, a voter ID or an electricity bill.
- Application for PAN Card and Aadhar Card for FD
You can even visit their official website and download the Karnataka Bank FD form for more specific details.
The Karnataka Bank features various FD schemes for its users. For more details, refer to the following information:
People who want a regular income (from interest income) should use this strategy. This plan’s duration ranges from 7 days to 120 months. There is no maximum deposit amount; the minimum deposit amount is INR 100. You can select a quarterly, half-yearly or annual interest payout. Premature payment, loan against deposit and nomination facilities are offered. You can also search for the Karnataka Bank loan against FD schemes under this program.
This scheme allows tax deposits for deposits made pursuant to Section 80C of the IT Act. The annual threshold for claiming the tax advantage is INR 1.5 lakhs. This program is also offered as an FD and an Abhyudaya Cash Certificate. For this plan, there is a 5-year lock-in term. The minimum deposit is one hundred rupees and the annual maximum is one lakh rupees.
This plan is ideal for investors who do not require periodic interest but instead desire a lump sum payment after a certain period. Quarterly interest payments are made into the deposit plan under this one. This plan has a duration of 6 months to 120 months. There is no maximum deposit amount; the minimum deposit amount is INR 100.
The ‘Twin Gain’ is another name for this system. When you need money, you can withdraw it quickly, and the balance will continue to generate interest at the pre-agreed rate.
Being an Overseas Citizen of India (OCI), Person of Indian Origin (PIO) or NRI — meets the eligibility requirements for this program. The option of opening joint accounts with other NRIs or their close relatives is available to investors. This plan has a duration of 1 to 10 years.
Persons of Indian origin (PIO), Overseas Citizens of India (OCI), or Non-Residents of India (NRI) are required to meet the eligibility requirements for Non-Resident (Ordinary) Fixed Deposit Accounts. This arrangement allows for shared ownership of the account with an Indian resident.
Investors have the option of holding the Euro (EUR), US Dollar (USD), Japanese Yen (JPY), Pound Sterling (GBP), Singapore Dollar (SGD), Canadian Dollar (CAD), Australian Dollar (AUD), Swiss Franc (CHF), Hong Kong Dollar (HKD) and Swedish Krona (SEK) currencies. This plan has a duration of 1 month to 5 years. Any NRI may open this account while making a permanent move back to India.
The Interest Rates for deposits above INR 2 crores up to INR 100 crores can be categorised based on the maturity pattern chosen by the customer. Generally, the interest rates vary between 5% and 7.30% on average.
As per official records, the Maturity Pattern and corresponding Interest Rates for deposits below INR 2 Crores in a financial institution vary based on the deposit tenure. Generally, the interest rates vary between 4.5% and 7.30% on average.
|Maturity Pattern||Interest Rate (% p.a) for Deposits below INR 2 Crore||Interest Rate (% p.a) for Deposits INR 2 crore – INR 100 Crore|
|7 days to 90 days||4.5||5|
|91 days to 179 days||5.25||6.75|
|180 days to below 1 year||5.25||6.9|
|1 year to 2 years||7||7|
|375 days (KBL Centenary Deposit)||7.3||7.3|
|2 years to 5 years||6.5||6.5|
|5 years to 10 years||5.8||5.8|
Refer to the following 3 tables incorporating data relating to the NRE term deposits (Table 1), NRO term deposits (Table 2) and domestic deposits (Table 3):
- Table 1 (Interest rates for NRE term deposits):
|Maturity Pattern||Interest Rate (% p.a)|
|1 year to 2 years||7.00|
|Above 2 years to 5 Years||6.50|
|Above 5 years to 10 Years||5.80|
- Table 2 (Interest rates for NRO term deposits):
|Maturity Period||Interest Rate (% p.a.)|
|30- 45 Days||3.50|
|60 – 90 Days||5.00|
|120 Days – 9 months||5.30|
|12 Months – 24 months||5.50|
|3 – 5 Years||5.65%|
- Table 3 (Interest rates for Domestic term deposits):
|Maturity Period||Interest Rate (% p.a.)|
|7 days to 1 month 4 days||3.40|
|1 month 15 days to 2 months 29 days||4.90|
|2 months 30 days||5.10|
|1 year to 2 years||5.20|
|2 years 1 day – 4 years 11 months 30 days||5.50|
|5 years – 9 years 11 months29 days||5.60|
For investors seeking stable growth on their savings, FDs in Karnataka prove to be an attractive choice. FD Karnataka Bankprovides a convenient and secure way to grow one’s savings and achieve financial stability over time. It’s essential for individuals to compare interest rates and terms offered by different banks to make an informed decision before investing in FDs in Karnataka. In all, FD Karnataka Bank assures promising results to its customers and is undoubtedly trustworthy, taking into account its past record.
Karnataka Bank Fixed Deposit FAQ’s :-
Yes, an account user can end their Karnataka Bank FD at any time, with the exception of tax-saver FDs (which have a 5-year lock-in period).
The Karnataka Bank Soulabhya Deposit Scheme requires a minimum deposit of INR 5,000, with additional deposits made in multiples of INR. 1,000.
Yes, Karnataka Bank offers this service to its clients.
No, the maximum deposit that may be made has no upper limit.