Karnataka Bank Soulabhya Fixed Deposit

1. The bank will accept the deposit initially for a period of 46/30 days or maybe the period updated by the bank from time to time. The FD account will automatically get renewed along with interest accrued for 38/59 blocks of 46/30 days each.   

1. The interest rate for each renewal will also get changed based on the current interest rate announced by the bank from time to time. The bank calculated the interest on completion of each block of 46/30 days.  
2. The FD account holder can withdraw the money at any time in units of Rs.1,000. However, the bank will not provide any interest on the amount withdrawn before the completion of 30 days block.  
3. The depositor will get a consent letter for automatic renewal from the bank.  

Option 2  

The following are the details provided by the Karnataka Bank under Option 2:  

1. Tenure: Three months to 60 months.  
2. The interest will be provided on a quarterly basis and will be credited to the respective FD account.  
3. The depositor can withdraw the money in units of Rs.1,000 each as and when needed before the agreed period.