The festive season has started. Many people plan their investments at this time. Fixed deposits (FDs) are a good investment option. Several banks have already revised their FD interest rates. Karur Vysya Bank, a private sector bank, is one of them. The bank changed its rates even before the RBI Monetary Policy Committee (MPC) announced its decision.
For deposits under ₹3 crore, the bank offers interest rates from 4% to 6.80% for general customers. Customers can choose a tenure from 7 days to 10 years. A 1% penalty applies for early withdrawal. The bank also has special maturity slabs. Interest rates can change often, so investors should check the bank’s website or visit the nearest branch for the latest rates.
You can invest as little as ₹100 in a Karur Vysya Bank FD. The bank also provides a nomination facility and allows loans against FD. Interest is paid at regular intervals.
FD Tenure with Highest Return
The 400-day fixed deposit gives the highest interest of 6.80%. The 333-day FD comes next, offering 6.65% interest. The bank gives over 6% interest on all tenures of 121 days or more.
Special schemes:
- Rainbow Deposit – 4.75%
- Green Deposit (2345 days) – 6.25%
- Tax Shield FD – 6.55%
Interest Rates by Tenure
- 7 to 14 days – 4%
- 15 to 30 days – 4%
- 31 to 45 days – 4.50%
- 46 to 90 days – 4.75%
- 91 to 120 days – 5.75%
- 121 to 180 days – 6%
- 181 to 270 days – 6.25%
- 271 to 332 days – 6.40%
- 333 days – 6.65%
- 334 days to less than 1 year – 6.40%
- 1 year to 399 days – 6.55%
- 400 days – 6.80%
- 401 days to 2 years – 6.55%
- More than 2 years up to 3 years – 6.55%
- More than 3 years up to 5 years – 6.50%
- More than 5 years – 6.25%