Karnataka Bank FD Rates

Karnataka Bank FD Interest Rates

In this progressive world, Karnataka bank offers qualitative products for its customers and stands as a leader of its trade.

Investing in the Karnataka bank

The Karnataka bank has its headquarters in Mangalore, Karnataka. It is a scheduled commercial bank that has a great reach in both the rural and urban population. Apart from offering retail services such as personal banking, mortgages, credit cards, the Karnataka bank also offers excellent investment options. The most notable investment option is the fixed deposit scheme, which is the most preferred deposit choice. Fixed deposits have long been in existence in India. It is a trusted and durable form of investment that delivers a good return.

Fixed Deposits in the Current Day

This bank bases the rate of their fixed deposit scheme on three factors namely the amount of principle invested, the tenure of the investment or the nature of the investor.

While senior citizens get a comparatively higher rate of interest, other citizens too can reap the benefits of this scheme. Starting from a maturity period of just 7 days, the FD scheme’s tenure can be extended till 10 years.

The fixed deposit can be made in one of three ways- The payout of the interest can be collected quarterly or the payout can be collected monthly or the payout can be collected at maturity. Loans can also be availed against the Fixed Deposit.

Karnataka Bank Fixed Deposit Rates

It is advisable to reconfirm the FD Rates from the bank before making any decision on basis of data provided below.

For Domestic Deposits - Above Rs. 1 cr and upto 10 crs (As on Jul 31, 2017)

For Domestic Deposits - Above Rs. 1 cr and upto 2 crs (As on Jul 31, 2017)

For Domestic Deposits - Rs. 2 cr to upto 10 crs (As on Jul 31, 2017)

For Domestic Deposits - Upto Rs. 1 cr (As on Jul 31, 2017)

Tax Saver FD (Max Deposit - 1 LPA)

Tax Implications

1. The amount invested in Fixed Deposit with a tenure of 5 years with Karnataka Bank is eligible for tax deduction under IT section 80C, whereas the interest earned on the investment is taxable.
2. The applicable tax will be deducted at source, i.e. Karnataka Bank, in case the annual interest earned crosses Rs. 10,000.

For NRE Fixed Deposit - Above Rs. 1 cr and upto 10 crs (As on Jul 31, 2017)

For NRE Fixed Deposit - Upto Rs. 5 cr (As on Jul 31, 2017)