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The Kerala Gramin Bank (KGB), which is an amalgamation of North Malabar Gramin Bank and South Malabar Gramin Bank, was set up in 2013 under the Regional Rural Bank (RRB) Act 1976. With an aim to be one of the ‘socially committed’ banks, KGB offers a wide range of financial products, including various Fixed Deposit (FD) schemes. Gramin Bank Fixed Deposits pay depositors a good rate of return and are a safe way to earn a higher rate of interest.
Given below is the updated list of FD rates for regular and senior citizens:
|Tenure||Regular Interest Rate (per annum)||Senior Citizen Interest Rate (per annum)|
|7 days to 60 days||5.50%||6.00%|
|61 days to 90 days||5.75%||6.25%|
|91 days to 179 days||6.50%||7.00%|
|180 days to 221 days||6.75%||7.25%|
|223 to 364 days||6.75%||7.25%|
|More than 1 year to less than 2 years||6.90%||7.40%|
|2 years to less than 5 years||6.80%||7.30%|
|5 years to 10 years||6.40%||6.90%|
*The below mentioned rates are for deposits that are of less than Rs.1 crore
How to Apply: To apply for a Gramin Bank FD online you will have to have an active internet banking account. This can also be done by visiting the nearest bank branch.
NRO & NRE FDs: Customers who are not residing in the same country also have the option to invest in NRO and NRE deposits. These pay interest at an attractive interest rate.