Karnataka Vikas Grameena Bank is a regional rural bank (RRB) founded in 2005. The bank offers a host of financial products such as loans, deposits, savings accounts, and more.
The fixed deposit (FD) schemes offered by Karnataka Vikas Grameena Bank are designed to cater to the needs of various customers.
Read on to know more about the features and interest rates of the bank’s fixed deposit schemes.
The features and benefits of Vikas Siri Sampath – 1111 are listed below:
Here are the features and benefits of opening a Vikas Tax Ulitaya Tax Saving Fixed Deposit:
The interest rates on resident and NRO fixed deposits offered by Karnataka Vikas Grameena Bank are mentioned in the table below:
Tenure | Rate of Interest for General Citizens(% p.a.) | Rate of Interest for Senior Citizens(% p.a.) | |
07 days to 14 days | 3.25% | 3.75% | |
15 days to 30 days | 3.25% | 3.75% | |
31 days to 45 days | 3.25% | 3.75% | |
46 days to 60 days | 4.25% | 4.75% | |
61 days to 90 days | 4.25% | 4.75% | |
91 days to 120 days | 4.75% | 5.25% | |
121 days to 179 days | 4.75% | 5.25% | |
180 days to 269 days | 5.25% | 5.75% | |
270 days to less than 1 year | 5.75% | 6.25% | |
1 Year | 6.85% | 7.35% | |
333 Days- KGB Sanchay | 7.30% | 7.80% | |
KGB-444 days | 7.35% | 7.85% | |
Above 1 year up to & inclusive 2 years | 7.00% | 7.50% | |
Above 2 years up to & inclusive 3 years | 6.85% | 7.35% | |
Above 3 years up to & inclusive 5 years | 6.50% | 7.00% | |
Above 5 years up to & inclusive 8 years | 6.50% | 7.00% | |
Above 8 years up to & inclusive 10 years | 6.50% | 7.00% | |
Tax Saver (5 years period) | 6.50% | 7.00% | |
KGB-Aishwarya (1 to 2 years) | 7.15% | 7.65% |
Note: The interest rates mentioned in the table above are effective from 16 December 2023.
You can receive tax benefits under Section 80(C) on up to Rs.1.5 lakh under the Vikas Tax Ulitaya Tax Saving Fixed Deposit.
Individuals, HUFs, corporates, partnerships, trusts, etc., are eligible to open a Vikas Siri Sampath – 1111 FD account.
Yes, senior citizens will get an additional interest rate of 0.50% on the Vikas Siri Sampath – 1111 fixed deposit
The minimum deposit to open a Vikas Tax Ulitaya Tax Saving Fixed Deposit is Rs.100.
No, you cannot withdraw the Vikas Tax Ulitaya Tax Saving Fixed Deposit before maturity.
No, the Vikas Tax Ulitaya Tax Saving Fixed Deposit cannot be used as collateral to obtain a loan.
Currently, Karnataka Vikas Grameena Bank offers interest rates ranging from 3.25% to 7.35% on fixed deposits.
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