The Karnataka Gramin Bank offers its customers a fixed deposit scheme. Under this fixed deposit scheme, customers can open a fixed deposit account with just Rs.1,000 and for a maximum tenure of 10 years.
Karnataka Gramin Bank Fixed Deposit Scheme Features
The various features of the Karnataka Gramin Bank fixed deposit scheme are mentioned below:
| Account type | Single or jointly |
| Deposits | Minimum: Rs.1,000 |
| Tenure | Minimum: 7 days Maximum: 10 years |
| Loan facility | Available |
| Nomination | Available |
Karnataka Gramin Bank Fixed Deposit Interest Rates for Deposits Below Rs.2 Crore
The interest rate for Karnataka Gramin Bank fixed deposit for deposits below Rs.2 crore are given below:
| Tenure | Interest rate for deposits below Rs.15 lakhs (p.a.) | Interest rate for deposits between Rs.15 lakh to Rs.2 crore |
|---|---|---|
| 7 days to 45 days | 3.00% | 3.00% |
| 46 days to 60 days | 4.00% | 3.95% |
| 61 days to 90 days | 4.25% | 4.20% |
| 91 days to 269 days | 4.50% | 4.45% |
| 270 days to less than a year | 4.75% | 4.70% |
| 1 year to less than 2 years | 5.40% | 5.40% |
| Above 2 years to less than 3 years | 5.55% | 5.55% |
| Above 3 years to less than 5 years | 5.60% | 5.60% |
| Above 5 years to 10 years | 5.65% | 5.65% |
Note: These rates are effective since 10 February 2022 and can be changed as per the rules and regulations of the bank.
Karnataka Gramin Bank Fixed Deposit Interest Rates for Deposits of Rs.2 Crore and Above
The interest rate for Karnataka Gramin Bank fixed deposit for deposits of Rs.2 crore and above are given below:
| Tenure | Interest Rate (p.a.) |
|---|---|
| 7 days to 45 days | 3.00% |
| 46 days to 60 days | 3.50% |
| 61 days to 90 days | 3.75% |
| 91 days to less than a year | 4.00% |
| 1 year | 4.75% |
| Above 1 year to less than 2 years | 4.50% |
| Above 2 years to less than 3 years | 4.55% |
| Above 3 years to less than 5 years | 4.60% |
| Above 5 years to 10 years | 4.65% |
Note: These rates are effective since 10 February 2022 and can be changed as per the rules and regulations of the bank.
Karnataka Gramin Bank Fixed Deposit Scheme Eligibility
The eligibility criteria to open a Karnataka Gramin Bank fixed deposit account is mentioned below:
- Individuals above the age of 18 years
- Minors along with a guardian
- HUF, Partnership, a Company, Association or any other Institution
Documents Required for Karnataka Gramin Bank Fixed Deposit Scheme
The documents that are required to open a Karnataka Gramin Bank fixed deposit account are mentioned below:
- Application form
- PAN card copies (self-attested)
- 2 Passport sized photographs
FAQs on Karnataka Gramin Bank Fixed Deposit Interest Rates
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Is there any special interest rate available for senior citizens under the Karnataka Gramin Bank fixed deposit scheme?
Yes, an additional interest rate of 0.50% is available for senior citizens under the Karnataka Gramin Bank fixed deposit scheme.
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Is loan facility provided against the Karnataka Gramin Bank fixed deposit account?
Yes, loan facility is available against the Karnataka Gramin Bank fixed deposit account.
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What is the minimum tenure for opening an account under the Karnataka Gramin Bank fixed deposit scheme?
The minimum tenure for opening an account under the Karnataka Gramin Bank fixed deposit scheme is 7 days.
