Karnataka Bank Fixed Deposit Interest Rate

Fixed Deposit or FD is a good interest rate investment option. Karnataka Bank offers a Fixed Deposit Account with a high interest rate. Fixed Deposit can open for the duration of a minimum of 7 days and a maximum of ten years. Fixed Deposit gives you a high-interest rate on your deposit amount. The Deposit minimum amount is depending upon the bank.

Benefits of Karnataka Bank Fixed Deposit

  • You get a higher interest rate on your fixed Deposit while comparing with saving accounts.
  • Multiple fixed deposits can open.
  • Allahabad Bank also gives a loan on your fixed Deposit so that, you don’t need to break your Deposit for your need.
  • You can get an Rs.1.5 lakh exemption under Section 80 C of the Income Tax Act, 1961.
  • If you are a senior citizen, then you will get a high-interest rate on your Fixed Deposit account.

Fixed Deposit Eligibility

  • Fixed Deposits can open the name of Individual, Joint, Society, Company, Partnership, etc.
  • The applicant must have a savings account in the bank.

Income Tax Facts on Karnataka Bank Fixed Deposit Interest

If you are looking for income tax fact on Fixed Deposit interest, then you can check below:

  • If Fixed Deposit interest is less then Rs. 40, 000/-, then the Karnataka Bank will deduct TDS on interest.
  • Interest earned on Fixed Deposit is taxable. It will treat as Income from Other Sources.
  • If you don’t want to pay any TDS on Fixed Deposit, then you have to submit Form 15G and Form 15H in Karnataka Bank.
See also  Capital Bank Fixed Deposit Interest Rate

Karnataka Bank Tax Benefit Fixed Deposit

  • Interest Rate is 6.5% for 5 years term deposits.
  • The amount can not withdraw before five years.
  • The deposit account can not transfer to another bank.

Karnataka Bank Fixed Deposit Interest Rate

Interest rates for deposits General Public (*)
Maturity Pattern Interest Rate (% p.a) for Deposits below Rs.2 Crore Interest Rate (% p.a) for Deposits Rs.2 Crore and upto Rs. 10 Crore
7 days to 45 days 3.50 3.50
46 days to 90 days 5.00 5.00
91 days to 364 days 6.25 6.25
1 year to 2 Years 6.50 6.50
Above 2 Year to 5 years 6.40 6.40
Above 5 year to 10 years 6.30 6.30

Interest rate for Senior Citizens

Maturity Pattern Deposits upto & inclusive of Rs.5 Crore
1 year to 2 Years 6.90
Above 2 Year to 5 years 6.80
Above 5 Year to 10 years 6.70
See also  Indian Overseas Bank Fixed Deposit Interest Rate

NRE Rupee Term Deposits

Maturity Pattern Interest Rate (% p.a) for Deposits below Rs.2 Crore Interest Rate (% p.a) for Deposits Rs.2 Crore and upto Rs. 10 Crore
1 to 2 Years 6.50 6.50
Above 2 Year to 5 Years 6.40 6.40
Above 5 Year to 10 Years 6.30 6.30

Interest rates on Special Deposit

Scheme Rate of Interest (% p.a) Remarks Scheme
For General Public For Senior Citizens
KBL – Tax Planner 6.40 6.80 Period of deposit is fixed for 5 years only, for deposits not exceeding Rs. 1.5 lakhs in a year. Premature closure under this scheme is not allowed.

Savings Bank Account – Interest Rates

Type of account Day-end Balance Rate of Interest(% per annum)
All SB accounts including NRE & NRO accounts Upto & including ₹ 1 Lakh 3.00
Above ₹ 1 lakh up to ₹ 10 Lakh 3.10
Above ₹ 10 lakh up to ₹ 50 Lakh 3.50
₹ 50 lakh up to ₹ 100 Lakh 4.00
Above ₹ 100 lakh 5.00

Interest on FCNR (B) Deposits & RFC Deposits.

Period USD GBP EUR CAD AUD JPY CHF SEK HKD SGD
1 Year Only 2.69 1.33 0.30 2.68 1.36 0.66 0.01 0.85 2.71 2.10
Above 1 year but less than 2 Years 2.69 1.33 0.30 2.68 1.36 0.66 0.01 0.85 2.71 2.10
2 Years and above but less than 3 Years 2.55 1.34 0.29 2.40 1.30 0.63 0.01 0.84 2.51 2.02
3 Years and above but less than 4 years 2.60 1.43 0.41 2.47 1.40 0.74 0.08 0.95 2.52 2.09
4 Years and above but less than 5 Yrs 2.56 1.43 0.44 2.45 1.52 0.71 0.10 0.96 2.46 2.09
5 Years only 2.57 1.43 0.48 2.43 1.57 0.71 0.14 0.99 2.43 2.10
See also  APGB Bank Fixed Deposit Interest Rate

Interest Rates for RFC

Period USD GBP EUR CAD AUD JPY CHF SEK HKD SGD
Savings Bank 0.50 0.22 NIL 0.50 0.50 NIL NIL NIL NIL NIL
One Month to less than Three Months 1.22 0.49 NIL NIL NIL NIL NIL NIL NIL NIL
Three Months to less than Six Months 1.22 0.49 NIL NIL NIL NIL NIL NIL NIL NIL
Six Months but less than One Year 1.43 0.49 NIL NIL NIL NIL NIL NIL NIL NIL

Broken period interest on FCNR

Currency USD GBP EUR CAD AUD JPY CHF SEK HKD SGD
Broken Period Interest 0.50% 0.50% NIL 0.50% 0.50% NIL NIL NIL NIL NIL

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