The city-headquartered private sector Karnataka Bank has increased interest rates on its domestic and NRE rupee term deposits for amount below Rs 2 crore.
The rate of interest for 1-2 years deposits will be 5.35 per cent and above two years to five years, the rate will be 5.50 per cent.
The above rates are effective from July 1 this year, a bank release here said.
The upward revision in the deposit interest rate will encourage retail customers to invest more in various term deposit schemes of the bank, the release said.
Published 30 June 2022, 08:04 IST