Karnataka Bank launches 'KBL Centenary Deposit Scheme'

18 Oct 2022 , 09:19 AM

Karnataka Bank has launched a Term Deposit Scheme “KBL Centenary Deposit Scheme” with effect from October 17, 2022.

While launching this scheme, Mahabaleshwara M S, MD & CEO of the Bank said that “In order to mark the glorious journey towards Centenary and to reward its patrons, Bank has launched a unique term deposit scheme “KBL Centenary Deposit Scheme” with higher rate of interest.

This deposit will be for a period of 555 days with interest rate of 7.20 % p.a. For Senior Citizens the rate of interest will be 7.60 % p.a. It is a Golden opportunity to our customers to save and invest to realize better returns.”

Speaking on this occasion, Shri P Pradeep Kumar, Chairman of the Bank, said “By launching this deposit scheme, we are amongst the list of leading Banks currently offering the highest rate of interest for term deposits in the banking industry.

I wish everyone a roaring Diwali and I am sure this deposit scheme will definitely add to the happiness of our customers during this festive season.”

At around 9:22 AM, Karnataka Bank Ltd is currently trading at Rs86.60 per share up by Rs1.7 or 2% from its previous closing of Rs84.90 per share on the BSE.

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