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Karnataka Bank RD Interest Rates

IndianMoney.com Research Team | Posted On Saturday, May 04,2019, 01:19 PM

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Karnataka Bank RD Interest Rates

 

 

Get the Best Rates for a Karnataka Bank Recurring Deposit

Recurring deposits are investment schemes offered by banks where the depositors can invest a fixed amount of money every month for a pre-specified time period. Karnataka Bank offers an attractive interest rate and varying maturity period on Recurring Deposits to suit the financial requirements of different types of customers like minors, senior citizens and NRIs. Karnataka Bank RDs are one of the best options for individuals who want to fulfil long-term saving goals. The process is simple and hassle-free and requires minimal documentation. Karnataka Bank also provides online mobile banking facilities that enable customers to manage their accounts conveniently.

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Karnataka Bank - Short Term Recurring Deposit Interest Rates

Karnataka Bank offers a Recurring Deposit for short term and moderate term. The tenure for short term RD ranges from 6 months to 12 months. The tenure for mid-term RD ranges from 1 to 2 years.

Interest paid on RD amount of up to Rs. 1 crore

For a Recurring Deposit account with tenure ranging from 6 months to 9 months, the rate of interest offered by Karnataka bank is 7.25% P.A. Similarly, the rate of interest for RD accounts with tenures ranging from 1 year to 2 years is 7.75% P.A.

Interest paid on RD amount above Rs. 1 crore and up to Rs. 10 crores

The interest rate offered by Karnataka Bank on RD accounts ranging from 6 months to 9 months is 7% P.A. For RDs with tenure starting from 1 year to 2 years, the rate of interest provided is 7.25% P.A.

Interest paid on RD amount above Rs. 10 croresand up to Rs. 100 crores

SEE ALSO: Recurring Deposit Revised Interest Rates

The interest rate offered by Karnataka bank on RD accounts ranging from 6 months to 9 months is 7% P.A. For RDs with tenure starting from 1 year to 2 years, the rate of interest provided is 7% P.A.

Karnataka Bank - Medium and Long Term Recurring Deposit Interest Rates

Karnataka bank offers long term fixed deposits where an individual can choose to deposit money regularly to meet his long term savings goal. The bank offers varied tenure ranging from 2 years to a maximum of 10 years. The rate of interest provided is7.50% for a deposit amount up to Rs. 1 crore.

Karnataka Bank - Senior Citizen Recurring Deposit Interest Rates

Banks provide special rates for senior citizens on recurring deposits. Senior citizens can opt for Karnataka Bank Recurring Deposit accounts and enjoy preferential rates on deposits. Karnataka Bank also provides a nomination facility and joint account facility on recurring deposits.

Interest paid on RD amount of up to Rs. 1 crore

The rate of interest offered by Karnataka Bank is 7.75% for a Recurring Deposit account,with tenures ranging from 6 months to 9 months P.A. The rate of interest offered to RD accounts with tenures ranging from 1 year to 2 years is 8.25% P.A and 8% for accounts with tenures of 2 years to 10 years.

Interest paid on Recurring deposit amount above Rs. 1 crore and up to Rs. 10 crores

The interest rate offered by Karnataka Bank on opening RD accounts ranging from 6 months to 9 months is 7.50% P.A. For RDs that have a maturity period of 1 year to 2 years, the rate of interest provided is 7.75% P.A.

Interest paid on Recurring deposit amount above Rs. 10 crores and up to Rs. 100 crores

The interest rate offered by Karnataka Bank on RD accounts ranging from 6 months to 9 months is 7.50% P.A. For RD accounts with tenures from 1 year to 2 years, the rate of interest provided is 7.50% P.A.

SEE ALSO: Is Interest on Recurring Deposit Taxable?

Karnataka Bank - NRE Recurring Deposit Interest Rates

Recurring deposits are one of the schemes that can be availed by Indians residing in foreign countries. KarnatakaBank offers Recurring Deposits with varying interest rates and deposit amounts for NRI accounts. Karnataka Bank provides mobile banking app that enables these types of customers to make online payment of monthly instalments and manage their account through online banking services.

Interest paid on RD amount of up to Rs. 1 crore

For Recurring Deposit account whose tenure ranges from 1 year to 2 years, the rate of interest offered by Karnataka Bank is 7.27% P.A. The rate provided forNRI RD accounts with tenures extending from 2 years and up to 10 years is 7.50% P.A.

Interest paid on RD amount above Rs. 1 crore and up to Rs. 10 crores

The interest rate offered by Karnataka Bank on RD accounts whose tenure extends from 1 year to 2 years is 7.25% P.A.

Interest paid on RD amount above Rs. 10 crores and up to Rs. 100 crores

The interest rate offered by Karnataka Bank on RD accounts with a tenure ranging from 1 year andup to 2 years is 7% P.A.

Karnataka Bank Minor Deposit Scheme

Karnataka Bank also provides Recurring Deposit schemes for minors to nurture saving habits in kids. The schemes are categorised as two types and the interest rate is provided based on the tenures. The rate of interest provided for RD scheme below and above 10 years is 7.50% per annum.

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