• Overview of Karnataka Bank Fixed Deposit

    Karnataka Bank offers a range of services to its customers. Fixed Deposits (FD) are one of the investment products provided by the bank.

    Types of Karnataka Bank Deposit schemes

    • Fixed Deposit scheme
    • Tax Planner FD
    • Soulabhya Deposit
    • Abhyudaya Cash Certificate (ACC)

    Features of Karnataka Bank FD

    • 7 days to 10 years maturity period.
    • Minimum deposit Rs.100.
    • Periodic interest payouts - yearly, half-yearly, quarterly and monthly.
    • Monthly payout interest rate is lower than others (except senior citizen).
    • The interest income will be transferred to the investor’s Savings Account or wired through National Electronic Fund Transfer (NEFT).
    • The FD scheme allows premature withdrawals.
    • There is no penalty for premature withdrawals of deposits below Rs.1 crore.
    • Senior Citizens are entitled to an additional interest rate which is 0.25%-0.50% more than the regular rates.
    • One can operate the FD as a joint account.
    • Karnataka Bank offers nomination facility on this scheme.
    • The interest earned will be taxed based on Tax Deducted at Source (TDS) as per the Income Tax Act, 1961.
    • One can avail loans against the deposit as per the guidelines of the bank.
    • In case of deposits under Rs.1 crore, the rates lie within 3.50% p.a. and 7.40% p.a.

    Features of Karnataka Bank Abhyudaya Cash Certificate scheme (ACC)

    • ACC is a reinvestment-based deposit scheme.
    • In this variant of Term Deposit, the interest is compounded on a quarterly basis.
    • One must deposit a minimum amount of at least Rs.100.
    • The tenure range for the scheme is between 6 months and 10 years.
    • This scheme comes with a nomination facility.
    • The account holder can also withdraw funds before the maturity date.
    • An additional rate of 0.50% is offered to Senior Citizens on deposits under Rs.1 crore.
    • The interest rates are between 3.50% p.a. and 7.40% p.a.
    • The depositor does not receive periodic interest payouts for this scheme.

    Features of Karnataka Bank Tax Planner FD scheme

    • KBL Tax Planner has a maturity period of 5 years.
    • This scheme offers tax benefits as mandated by Section 80 C of the Income Tax Act, 1961.
    • The minimum amount of deposit is Rs.100 and the maximum amount is Rs.1.50 lakh.
    • One can maintain the FD as a joint account:
      • At least one of the account holders be legally an adult
      • Only the primary account holder is entitled to the tax benefits
    • One cannot avail loans against the deposit.
    • One cannot withdraw funds before the 5-year tenure.
    • The account holder can choose either a monthly interest payout or a quarterly interest payout.
    • The interest income will be taxed according to Section 194A or Section 195 of the Income Tax Act, 1961.
    • The scheme has a nomination facility.

    Features of Karnataka Bank Soulabhya Deposit

    • The Soulabhya scheme has high liquidity.
    • The depositor must make a minimum investment of Rs.5,000 and then in multiples of Rs.1,000.
    • One can avail the nomination facility as well as loans against the deposit.
    • Depositor can choose from two options.
    • First option:
      • The deposit is maintained for 46/30 days.
      • Automatic renewal after this period
      • Interest calculated after this period
      • Withdrawals in multiples of Rs.1,000
      • If funds are withdrawn before 30 days, no interest is paid
    • Second option:
      • Depositor can choose a tenure between 3 months and 5 years.
      • Interest is compounded every quarter and added to the FD account
      • Withdrawals carried out in multiples of Rs.1,000

    Karnataka Bank Fixed Deposit rates: Below Rs.1 crore

    Tenure bracket Regular FD rates (per annum) Senior Citizens FD rates (per annum)

    7 days to 46 days



    46 days to 3 months



    Above 3 months to 12 months



    12 months to 24 months



    Above 24 months to 60 months



    Above 60 months to 120 months



    *The Karnataka Bank FD rates are subject to change as per the discretion of the bank. The rates given in the table are valid as of 6 November 2018.

    Who is eligible to create a Karnataka Bank FD account?

    • Individuals
      • Indian residents
      • Members of the Hindu Undivided Families
    • Group entities
      • Sole Proprietorships
      • Partnership firms
      • Limited Companies
      • Government units

    What are the documents required to create a Karnataka Bank deposit account?

    • Government-approved identity and address proof
    • Permanent Account Number (PAN) Card
    • Aadhaar Card

    FAQs about Karnataka Bank Fixed Deposit scheme

    1. What is the tenure for KBL Tax Planner scheme?
    2. The Tax Planner scheme has a maturity period of 5 years.
    3. What is the highest FD rate offered by Karnataka Bank?
    4. One can get a FD rate of up to 7.40% p.a. for deposits below Rs.1 crore.
    5. What is the minimum deposit amount for Karnataka Bank FD?
    6. The minimum amount of deposit is Rs.100.
    7. What is the tenure range for Fixed Deposit scheme?
    8. The tenure range is 7 days to 10 years.
    9. Do senior citizens get special FD rates?
    10. Yes, senior citizens get an additional rate between 0.25% and 0.50%.

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    Karnataka Bank Fixed Deposit Reviews

    • Karnataka Bank Fixed Deposit
      "Good "
      0.5 5.0/5 "Blown Away!"
      Karnataka Bank fixed deposit interest rate is good than other banks, they are providing 7.35% of interest for senior citizen. I have went to the branch they provided hassle customer satisfaction. I took FD before two months with this bank for the tenure of one year.
      Was this review helpful? 4
      , chennai
      Reviewed on Dec 22, 2017
    • Karnataka Bank
      Karnataka Bank Fixed Deposit
      0.5 5.0/5 "Blown Away!"
      I had a Fixed Deposit account with Karnataka Bank. It was taken last year and closed this October 2017. FD is not matured, If I continue paying it my IT returns will go high so decided to closed this account. I have deposited 4L rupees. The customer service and response was up to the mark.
      Was this review helpful? 5
      , bangalore
      Reviewed on Dec 19, 2017
    • Karnataka Bank Fixed Deposit
      "Good Bank"
      0.5 5.0/5 "Blown Away!"
      I have an account for fixed deposit only with Karnataka bank. I have deposited around fifty five lakhs. I bank with Karnataka for more than twenty years, even my family members are having an account with the same bank. Their services are really good.
      Was this review helpful? 3
      , chennai
      Reviewed on May 22, 2017
    • Karnataka Bank Fixed Deposit
      "Good service "
      0.5 4.0/5 "Great!"
      They have provided a interest rate around 8.25% for the fixed deposit with Karnataka Bank.They apply a locking period of 5years in the fixed deposit applied.They have given a Tax saving service to the customer.There is no online application available where customer can get the information about fixed deposit.
      Was this review helpful? 7
      , bangalore
      Reviewed on Mar 22, 2016
    • Karnataka Bank Fixed Deposit
      0.5 5.0/5 "Blown Away!"
      My fixed deposit is from Karnataka bank. The services are good from them. The response is good. They also offer a good rate of interest. There are no charges taken for any of the facilities. I been a long time customer of the bank and it has always been a good experience.
      Was this review helpful? 7
      , chennai
      Reviewed on Mar 11, 2016
    • Karnataka Bank Fixed Deposit
      "Customer service is good..."
      0.5 5.0/5 "Blown Away!"
      Every yearly I use to open the fixed deposit. Actually last time the Karnataka bank has offered 8.75% to 9.5% of rate. Currently it is 8.75% of rate. Actually half percent will be extra for the senior citizens. You can take loan and OD limits on basis this FD.
      Was this review helpful? 11
      , faridabad
      Reviewed on Feb 05, 2016
    • Karnataka Bank Fixed Deposit
      "High rate for fixed deposit.."
      0.5 5.0/5 "Blown Away!"
      Three years ago the fixed deposit rate was about 8.75% in the market whereas Karnataka bank gave 9.55% of fixed rate. In addition to that there is no charge for pre closure. I am satisfied with Karnataka bank for fixed deposit and also they are servicing good.
      Was this review helpful? 6
      , goa
      Reviewed on Dec 16, 2015
    • Karnataka Bank Fixed Deposit
      "Very good"
      0.5 5.0/5 "Blown Away!"
      Karnataka FD was fine there was no feedback for them. They have intimated everything was done on time they call me frequently and they provide proper updates. They are good in all the ways and means. This FD was opened during the year 2006. I went to the Branch personally and opened this account and they took around 15 minutes of time to open this FD and its a cumulative interest and this FD is active.,
      Was this review helpful? 3
      , bangalore
      Reviewed on Sep 02, 2015
    • Karnataka Bank Fixed Deposit
      "Trust worthy bank in private sector."
      0.5 5.0/5 "Blown Away!"
      Advantage of having fixed deposit in Karnataka bank is that they provide interest paid at monthly interval without any deduction in the earned interest for the principal amount. This is the outstanding feature of KBL. Also they have very less service charge in the private sector banks that it can be negligible. Customer service is also better.
      Was this review helpful? 7
      , bangalore
      Reviewed on Jun 02, 2015
    • Karnataka Bank Fixed Deposit
      "Nice experience"
      0.5 5.0/5 "Blown Away!"
      Transaction criteria is easy and smooth in Karnataka bank for FD. I believe they are giving interest around 9 to 12% on Fixed Deposit. I got it for term of 5 years. Often I visit branch so whenever I do visit, getting satisfactory service from employees. However I would say that branches are less over cities so I suggesting Karnataka bank to open extra branches.
      Was this review helpful? 8
      , vellore
      Reviewed on Dec 08, 2014
    • Karnataka Bank Fixed Deposit
      "Good scheme!!"
      0.5 5.0/5 "Blown Away!"
      Interest rate on Fixed deposit is good where they offering up to 9.75% and charges are less. I opted for long term of 5 years and rate of interest accumulate per annum. Good service I am getting from Karnataka bank so I like banking with them. Benefit is that, I can get loan on FD.
      Was this review helpful? 3
      , bangalore
      Reviewed on Dec 06, 2014
    • Karnataka Bank Fixed Deposit
      "Fully Satisfied with Service"
      0.5 4.0/5 "Great!"
      Karnataka Bank fixed deposit, service is good, there response is best, i am using from past 1.5 years, i got confirmation slip, it was easy process to open my fixed deposit account, interest rate is good as per nationalized banks i got, facilities is good on my account. everything is fine time to time update.
      Was this review helpful? 4
      , bangalore
      Reviewed on Jul 14, 2014
    • Karnataka Bank Fixed Deposit
      "Best interest rate"
      0.5 4.0/5 "Great!"
      I have started a fixed deposit with Karnataka bank in the year 2010. Overall services of the bank are good and the response is very instant. Anything related to fixed deposit like maturity are communicated to me clearly on time. It is very easy to start a fixed deposit. Very easy documentation and the rate of interest is little bit higher than other banks.
      Was this review helpful? 5
      , bangalore
      Reviewed on Jun 16, 2014
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