Karnataka Bank raises Deposit Interest Rates

Karnataka Bank has increased interest rates on its Domestic and NRE Rupee term deposits for amount below Rs. 2 crore as following:

10 BPS increase for 1 to 2 years period deposits as well as above 2 years to 5 years deposits.

Accordingly, the rate of interest for 1-2 years deposits will be 5.35 % p.a. and above 2 years to 5 years the rate will be 5.50 % p.a. The above rates are effective from July 01, 2022. The upward revision in the deposit interest rate will encourage retail customers to invest more in various term deposit schemes of the Bank.

Shares of The Karnataka Bank Limited was last trading in BSE at Rs. 65.00 as compared to the previous close of Rs. 64.90. The total number of shares traded during the day was 823004 in over 781 trades.

The stock hit an intraday high of Rs. 65.20 and intraday low of 64.30. The net turnover during the day was Rs. 53489459.00.

Source : Equity Bulls

Keywords

TheKarnatakaBank INE614B01018 InterestRates Revision Domestic NRE RupeeTermDeposits