With its head office in Karur, Tamil Nadu, Karur Vysya Bank has grown its network throughout India and provides customers with a variety of banking products and services. Read ahead for more information on the Karur Vysya Bank FD rates.
The table displays the interest rates for fixed deposits offered by the bank, covering various tenure periods. As the deposit tenure increases, the interest rates also rise.
|7 days – 30 days||4%|
|1 month – 2 months 28 days||5.25%|
|2 months 29 days – 5 months 27 days||6%|
|5 months 28 days – 11 months 28 days||6.25 – 6.50%|
|11 months 29 days – 1 year 2 months 15 days||7%|
|1 year 2 months 16 days – 1 year 2 months 16 days||7.3%|
|1 year 2 months 17 days – 2 years 11 months 29 days||7%|
|3 years – 9 years 11 months 27 days||6.25%|
To invest in a Karur Vysya Bank fixed deposit scheme, you must fall under any one of the following categories:
- Limited companies
- Partnership firms
- Sole proprietorships
- HUFs (Hindu Undivided Families)
- Associations, etc.
The following documents must be submitted by the applicant in order to open a Karur Vysya Bank Account:
- Two latest passport size coloured photographs
- A duly filled-up Account Opening Form (AOF)
- Copy of PAN card/Form 60 (with PAN card explanation)
- Know Your Customer (KYC) documents with the form: Identity and address proof are required
- Proof of Date of Birth (DOB) for senior citizens and minors
Customers of Karur Vysya Bank have access to a wide range of fixed deposit options that have been created to meet each investor’s specific requirements. These are a few of the schemes:
- Thirumagal Thirumana Thittam
You must deposit a minimum of Rs. 100 in this program. Under this plan, there is no cap on your investment. A minimum of six months and a maximum of ten years must pass before closing this deposit. The tenure must always be in multiples of three months under this plan.
- Fixed Deposits
Starting this scheme requires just Rs. 100. Such deposits have terms ranging from 15 days to 10 years. The interest accrued on such a deposit is due on a monthly, quarterly, half-yearly, or annual basis. However, monthly payments are paid at a discount.
- Senior Citizen Deposits
This plan was created to assist senior citizens with their financial investments. Depositors are eligible for exceptional interest rates if a deposit is made for one year to five years under this scheme. However, the senior citizen’s deposit cap is set at Rs. 3 crore.
- KVB Tax-Shield
This is the best program for people searching for tax advantages on their fixed deposits. This program has a five-year term. A minimum of Rs. 100 and a maximum of Rs. 1.5 lakh must be invested each year.
- Rainbow Savings -Sweep In/Sweep Out
This fixed deposit has all the characteristics of both fixed deposits and savings accounts and is a part of a savings bank account. This deposit has a 90-day term; under this program, older citizens are not eligible for preferential interest rates. The applicant must always keep a minimum of Rs. 3,000 in their bank account.
For short-term deposits ranging from 7 to 90 days, the interest rates vary from 5.00% to 6.50%. As the tenure increases, the rates also fluctuate.
For short-term deposits from 7 to 90 days, the interest rate remains constant at 3.25%. As the tenure increases, the rates also rise, with 3.50% to 3.75% for 91 to 180 days.
For longer-term deposits, ranging from 1 year to above 5 years, the interest rates are set at 5.25% to 5.75%, offering customers various options to suit their investment preferences and financial goals.
|Period of Maturity||Interest Rate (p.a) for < 2 crores||Interest Rate (p.a) for Rs. 2 Cr- Rs. 25+ Cr|
|7 – 14 days||3.25%||5.00 – 6.00%|
|15 – 30 days||3.25%||5.25 – 6.00%%|
|31 – 45 days||3.25%||5.50 – 6.50%|
|46 – 90 days||3.25%||6.00 – 6.50%|
|91 – 180 days||3.50 – 3.75%||6.25- 7.1%|
|181 – 270 days||4%||6.50 – 6.75%|
|271 days – < 1 year||4.25%||6.75 – 7.50%|
|1 – < 2 years||5.25%||7.25 – 7.50%|
|2 – < 3 years||5.50%||7.10 – 7.25%|
|3- < 5 years||5.50%||6.75 – 7.00%|
|5 years and above||5.75%||N/A|
The tables below display the interest rates for domestic, NRO and NRE fixed deposits offered by the bank.
- Table 1 represents NRE Deposits
|Period of Maturity||Interest rates (p.a.)|
|1 year up to 443 days||7.00%|
|445 days up to 2 years||7.00%|
|Above 2 years up to 3 years||7.00%|
|Above 3 years up to 6 years and more||6.25%|
- Table 2 represents NRO Deposits
|Period of Maturity||Interest rates (p.a.)|
|7 days to 30 days||4.00%|
|31 Days to 90 days||5.25%|
|91 Days to 180 days||6.00%|
|181 Days to 270 days||6.25%|
|271 Days to less than 1 year||6.50%|
|1 Year to 443 days||7.00%|
|445 Days up to 3 years||7.00%|
|Above 3 years up to 6+ years||6.25%|
- Table 3 represents Domestic Deposits
|Deposited Amount||Interest Rate (P.a)|
|Up to Rs. 50 lakh||2.75%|
|Above Rs. 50 lakhs to up to Rs. 40 Crores||3.25%|
|Above Rs. 40 Crores||0.50%|
Karur Vysya Bank Fixed Deposit FAQ’s :-
The minimum amount needed for the majority of schemes is Rs. 100, however, for the KVB Flexi Term Deposit, it is Rs. 1 crore.
There is no limit on the maximum amount that can be deposited into a fixed deposit with KVB, although deposits over Rs. 1 crore could need the bank’s approval.
The minimum and maximum are 15 days and 10 years, or 120 months, respectively. The tenure for the Tax Shield plan is set at 5 years, and early closure is not authorised.
Yes. The interest on fixed deposits held with Karur Vysya Bank is taxable under applicable law. However, if the depositor has submitted forms 15G and 15H and is not subject to taxation, they may be free from tax deductions.