Karur Vysya Bank FD Interest Rates

Karur Vysya Bank or KVB FD interest rates range from 4.00% to 7.30% p.a. for general citizens and 4.00% to 7.80% p.a. for senior citizens, depending on the tenure of the deposit between 7 days to 10 years. The minimum amount that can be invested in a KVB FD is Rs. 100, and there is no maximum limit. KVB provides attractive interest rates on its Fixed Deposit products, allowing you to earn steady and guaranteed returns on your investments.

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Karur Vysya Bank FD Interest Rates in 2024 for Domestic/ NRO Deposits

The following table shows the latest KVB FD interest rates on domestic and NRO deposits below Rs. 2 crores:

Tenure KVB Interest Rates for Regular Citizens (in % p.a.) KVB Interest Rates for Senior Citizens* (in % p.a.)
7 – 14 days  4.00 4.00
15 – 30 days  4.00 4.00
31 – 45 days  5.25 5.25
46 – 90 days  5.25 5.25
91 – 120 days 6.00 6.00
121 – 180 days 6.00 6.00
181 – 270 days  6.25 6.25
271 days to < 1 year  6.50 6.50
1 year – 443 days  7.00 7.40
444 days 7.30 7.80
445 days – 2 years 7.00 7.40
> 2 years – 3 years   7.00 7.19
> 3 years – 5 years  6.25 6.65
> 5 years – 6 years  6.25 6.65
> 6 years – 10 years 6.25 6.40
Tax Shield Fixed Deposits  5.90 5.90

*Senior Citizen FD interest rates are not available for Non- Resident Indians (NRIs).

KVB FD Interest Rates in 2024 for NRE Deposits

The following table mentions the KVB interest rates on NRE deposits of up to Rs. 2 crores:

Tenure KVB Interest Rates for Regular Citizens (in % p.a.)
1 year – 443 days  7.00%
444 days 7.30%
445 days – 2 years 7.00%
> 2 years – 3 years   7.00%
> 3 years – 5 years  6.25%
> 5 years – 6 years  6.25%
> 6 years – 10 years 6.25%

KVB FD Interest Rates in 2024 for FCNR/ RFC Deposits 

Tenure KVB Interest Rates (in % p.a.)
US$ GB£ EU€ JP¥ CA$ AU$
1 year to < 2 years 5.81 5.43 3.90 0.18 5.00 4.60
2 years to < 3 years 5.56 5.43 3.40 0.18 5.00 4.60
3 Years < 4 years 4.81 4.93 3.40 0.43 5.00 4.60
4 years to < 5 years 4.81 4.93 3.40 0.43 5.00 4.60
For 5 years 4.81 4.93 3.40 0.43 5.00 4.60

About Karur Vysya Bank FD Rates

Karur Vysya Bank, commonly known as KVB, provides Fixed Deposit (FD) schemes with varying interest rates depending on the deposit amount and tenure that ranges between 7 days to 10 years. The bank offers competitive FD rates, making it an attractive option for individuals looking to save and earn returns on their investments.

KVB FDs also offer a number of benefits, such as flexibility, ease of opening and closing, and no penalty for early withdrawal.

Types of Karur Vysya Bank Fixed Deposit Schemes

The KVB FD interest rates are high and competitive for the following type of Fixed Deposit schemes:

  • Fixed Deposits for General Citizens/ NREs/ NROs

  • Fixed Deposits for FCNR and RFC Deposits

  • Fixed Deposits for Senior Citizens

  • Karur Vyasa Bank Flexi Term Deposit Scheme

  • KVB Tax Shield Scheme

Features of Karur Vysya Bank FD Interest Rates in 2024

The key features of KVB FD interest rates are as follows:

Features Details
Investment Amount Limits Rs. 1000 – No Limit
FD Tenure Limit 7 days – 10 years
Interest Rates
  • For General Citizens: 4.00% to 7.30% p.a.
  • For Senior Citizens: 4.00% to 7.80% p.a. 
Interest Payment
  • Interest attracts Simple Interest
  • Interest payment frequency is chosen by you from the following intervals:
  • Half-yearly
  • Quarterly 
  • Monthly
Higher FD Rates for Senior Citizens Available on deposits of up to Rs. 3 crores
Nomination Facility Available
Loan on FD Available
Auto-renewal Facility Available
Premature Closure of FD Allowed on payment of a penalty
Penalty on Premature Closure of KVB FDs
  • On Deposits of Up to Rs. 2 crores: 1% of Rate of Interest
  • On Deposits of > Rs. 2 crores: Penalty norms of pre-closure are applicable
Taxation on Regular FDs
  • Tax Deduction at Source (TDS) is levied on the interest earned from FDs
KVB Tax Shield FD
  • Maximum deposit of up to Rs. 1.5 lakhs
  • Tax benefits under Section 80C of the Income Tax Act, 1961

*You can use an FD calculator to estimate your Fixed Deposit returns from the KVB FD Schemes.

Eligibility Criteria to Apply for Karur Vysya Bank FD Scheme

The following category of investors are eligible to apply for the KVB Fixed Deposit (FD) investment options:

  • Individuals

  • Hindu Undivided Families (HUFs)

  • Trusts

  • Sole Proprietorships

  • Partnership Firms

  • Limited Companies

  • Associations

Documents Required to Open Karur Vysya Bank Fixed Deposit Scheme Account

To open a KVB interest rates FD account, you are required to submit the following documents:

Particulars Documents Required
ID Proof
  • PAN card
  • Driving licence
  • Aadhaar card
  • Senior citizen ID (if applicable)
  • Photo ID card issued by the government
  • Passport
Address Proof
  • Utility bills (Electricity bill, Gas bill, and Telephone bill)
  • Valid Passport

How to Open Karur Vysya Bank Fixed Deposit Account?

You can open a KVB FD account through Internet Banking, Mobile App, or offline. Let us learn about them from the steps mentioned below:

  1. Internet Banking

    Step 1: Log in to your KVB net banking account.

    Step 2: Click on the "Personal" tab and choose the Fixed Deposit Scheme of your choice.

    Step 3: Click on the "Apply now" button.

    Step 4: Fill in the details, and attach the mandatory documents to attest your KYC verification.

    Step 5: Review the final application properly and click on the "Submit" button.

    You will get notified upon successful submission of your application. You can track the status of your application online.

  2. Mobile App

    Step 1: Download the mobile app of KVB DLite.

    Step 2: Log in to your KVB personal banking account.

    Step 3: Go to the "Services" section, Click on the "Deposits" section and select the type of Fixed Deposit of your choice.

    Step 4: Upload the mandatory details required to verify your KYC.

    Step 5: Verify the details and documents provided by you and click on "Submit".

    Once your application gets verified, you will get notified.

  3. Offline Banking

    Step 1: Visit the nearest KVB branch.

    Step 2: Fill out the KVB FD application form and submit all the necessary documents.

    Step 3: Pay the deposit amount.

    Step 4: You will be provided with an FD receipt.

To Sum It Up

The Karur Vysya Bank Fixed Deposit Rates or KVB FD interest rates offer competitive returns on your investments. The bank provides attractive KVB interest rates for various tenures along with repatriation facilities to NRI investors. Potential investors can use Karur Vysya Bank FD calculator to check their guaranteed returns from their KVB FD investments. You should consider your financial goals and risk tolerance before deciding on an investment. KVB FD interest rate schemes provide a reliable and secure avenue for individuals to grow their savings while ensuring liquidity and stability.

FAQ's

  • What is the interest rate of 1 lakh in KVB?

    The interest rate for Rs. 1 lakh fixed deposit (FD) in Karur Vysya Bank (KVB) depends on the tenure of the deposit as per the following table:
    Tenure KVB Interest Rates for Regular Citizens (in % p.a.) KVB Interest Rates for Senior Citizens* (in % p.a.)
    7 – 30 days  4.00 4.00
    31 – 90 days  5.25 5.25
    91 – 180 days 6.00 6.00
    181 – 270 days  6.25 6.25
    271 days to < 1 year  6.50 6.50
    1 year – 443 days  7.00 7.40
    444 days 7.30 7.80
    445 days – 2 years 7.00 7.40
    > 2 years – 3 years   7.00 7.19
    > 3 years – 6 years  6.25 6.65
    > 6 years – 10 years 6.25 6.40
    Tax Shield Fixed Deposits  5.90 5.90
  • Which bank has a high interest rate for FD?

    The most popular banks in India offer high FD interest rates, as mentioned below:
    Bank Tenure Interest Rates for General Citizens (per annum)
    SBI 7 days to 10 years 3.00% to 7.50%
    ICICI 7 days to 10 years 3.00% to 7.50%
    Punjab National Bank 7 days to 10 years 3.50% to 7.30%
    HDFC Bank 7 days to 10 years 3.00% to 7.75%
    Axis Bank 7 days to 10 years 3.50% to 7.75%
    Union Bank of India 7 days to 10 years 3.00% to 6.70%
    Canara Bank 7 days to 10 years 3.25% to 6.50%
  • What is the KVB monthly income scheme?

    KVB Monthly Income Scheme (MIS) is a fixed deposit (FD) scheme offered by Karur Vysya Bank (KVB). Under this scheme, you can deposit a lump sum amount and receive monthly interest payments for a fixed period of time. The interest rate on KVB MIS is higher than the interest rate on regular FDs.
  • What is the latest FD rate?

    The FD interest rates in 2024 for top banks in India are as follows:
    Bank Name FD Interest Rates for General Citizens (in % p.a.) FD Interest Rates for Senior Citizens (in % p.a.)
    State Bank of India (SBI)  3.00% - 7.00% 3.50% to 7.50%
    Punjab National Bank (PNB) 3.50% to 7.00% 4.00% to 8.05%
    Unity Small Finance Bank 4.50% to 9.00% 4.50% to 9.50%
    HDFC Bank 3.00% To 7.10% 3.50% to 7.75%
    ICICI Bank 3.00% To 7.10% 3.50% to 7.60%
    Bandhan Bank 3.00% To 8.00% 3.75% to 8.50%
    Union Bank (Andhra Bank) 3.00% to 7.30% 3.50% to 7.80%
    Utkarsh Small Finance Bank 4.00% to 8.25% 4.75% to 9.00%
  • What is the highest FD rate for Karur Vysya Bank?

    Currently, the highest FD rate for Karur Vysya Bank is 7.30% per annum for regular citizens and 7.80% per annum for senior citizens. This interest rate is applicable for a 444-day tenure.
  • Can I open an FD account online in KV bank?

    Yes, you can open an FD account online in Karur Vysya Bank. Here are the steps on how to do it:

    Step 1: Go to the Karur Vysya Bank website and login to your internet banking account.

    Step 2: Click on the Fixed Deposit tab.

    Step 3: Select the type of FD you want to open and the tenure.

    Step 4: Enter the amount you want to invest.

    Step 5: Select the interest payment option.

    Step 6: Enter your nominee details.

    Step 7: Submit the application form.

    You will receive a confirmation message once your FD account is opened. You can also download a copy of the FD advice from your internet banking account.

  • Can I get a loan facility against FD with KVB?

    Yes, you can get a loan facility against FD with Karur Vysya Bank. The loan amount will be up to 90% of the FD amount and the interest rate will be slightly higher than the FD interest rate.
  • Is it important to provide a PAN number for KVB FD?

    Yes, it is important to provide your PAN number for a KVB FD if the total amount of the FD exceeds Rs. 50,000. This is because the government of India requires banks to collect PAN details for all financial transactions above this threshold.

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^Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
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