Karnataka Bank hikes deposit interest rates from today; Stock gains 2%

29 Sep 2022 , 09:43 AM

Ahead of festive season, Karnataka Bank hiked Term Deposit interest rates for amount up to 10 crore, across various maturity periods for its customers as well as its prospective customers. 

For below Rs2.00 crore deposits invested for 7 days to 90 days, Bank will now offer 5.25%. For the same period, on deposits of Rs2 crore to Rs10 crore, the revised rate will be 5.60%.

For a maturity period of 1 to 2 years, interest rates on below Rs2 crore deposits are increased to 6.40%. The revised rates for Rs2 crore to Rs10 crore for the same period will be 6.50%.

This revised interest rates will be effective from September 29, 2022, the Bank said in a regulatory filing on Wednesday.

On Thursday, at around 9:44 AM, Karnataka Bank Ltd is currently trading at Rs78.40 per share up by Rs1.75 or 2.28% from its previous closing of Rs76.65 per share on the BSE.

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