Karur Vyasa Bank offers various types of fixed deposits such as KVB Tax Shield fixed deposit, regular FD and also term deposits for senior citizens. The highest rate of interest offered by KVB fixed deposits for regular citizens is 5.75% per annum. For senior citizens, the interest rate is 6.15% per annum.
Customers can apply for a fixed deposit by visiting the branch of the bank or can also do through internet or mobile banking.
| Tenure | Interest rate for general public (p.a.) |
|---|---|
| 7 days to 14 days | 3.50% |
| 15 days to 30 days | 3.75% |
| 31 days to 45 days | 3.75% |
| 46 days to 60 days | 3.75% |
| 61 days to 90 days | 3.75% |
| 91 days to 120 days | 4.00% |
| 121 days to 180 days | 4.75% |
| 181 days to 210 days | 4.75% |
| 211 days to 270 days | 4.75% |
| 271 days or less than 1 year | 5.00% |
| 1 year to less than 2 years | 5.50% |
| 2 years to less than 3 years | 5.50% |
| 3 years to less than 5 years | 5.65% |
| 5 years and above | 5.75% |
Note: The interest rates are applicable w.e.f. 11 June 2021.
| Tenure | Interest rate for senior citizen (p.a.) |
|---|---|
| 1 year to less than 2 years | 6.00% |
| 2 years to less than 3 years | 6.00% |
| 3 years to less than 5 years | 6.15% |
| 5 years and above | 6.00% |
Note: The interest rates are applicable w.e.f. 11 June 2021.
| Tenure | Rs. 2 cr to Less than Rs. 5 cr | Rs. 5 cr to Less than Rs. 10 cr | Rs. 10 cr to Less than Rs. 25 cr | Rs. 25 cr and Above |
|---|---|---|---|---|
| 7 days to 14 days | 2.75% | 2.75% | 2.75% | 2.75% |
| 15 days to 30 days | 2.75% | 2.75% | 2.75% | 2.75% |
| 31 days to 45 days | 2.75% | 2.75% | 2.75% | 2.75% |
| 46 days to 60 days | 3.00% | 3.00% | 3.00% | 3.00% |
| 61 days to 90 days | 3.00% | 3.00% | 3.00% | 3.00% |
| 91 days to 120 days | 3.50% | 3.50% | 3.50% | 3.50% |
| 121 days to 180 days | 3.50% | 3.50% | 3.50% | 3.50% |
| 181 days to 210 days | 3.75% | 3.75% | 3.75% | 3.75% |
| 211 days to 270 days | 3.75% | 3.75% | 3.75% | 3.75% |
| 271 days or less than 1 year | 4.00% | 4.00% | 4.00% | 4.00% |
| 1 year to less than 2 years | 4.50% | 4.50% | 4.50% | 4.50% |
| 2 years to less than 3 years | 4.50% | 4.50% | 4.50% | 4.50% |
| 3 years to less than 5 years | 4.50% | 4.50% | 4.50% | 4.50% |
Note: The interest rates are applicable w.e.f. 15 June 2021.
| Tenure | Rs. 2 cr to Less than Rs. 5 cr | Rs. 5 cr to Less than Rs. 10 cr | Rs. 10 cr to Less than Rs. 25 cr | Rs. 25 cr and Above |
|---|---|---|---|---|
| 7 days to 14 days | 2.75% | 2.75% | 2.75% | 2.75% |
| 15 days to 30 days | 2.75% | 2.75% | 2.75% | 2.75% |
| 31 days to 45 days | 2.75% | 2.75% | 2.75% | 2.75% |
| 46 days to 60 days | 3.00% | 3.00% | 3.00% | 3.00% |
| 61 days to 90 days | 3.00% | 3.00% | 3.00% | 3.00% |
| 91 days to 120 days | 3.50% | 3.50% | 3.50% | 3.50% |
| 121 days to 180 days | 3.50% | 3.50% | 3.50% | 3.50% |
| 181 days to 210 days | 4.00% | 4.00% | 4.00% | 4.00% |
| 211 days to 270 days | 4.00% | 4.00% | 4.00% | 4.00% |
| 271 days or less than 1 year | 4.25% | 4.25% | 4.25% | 4.25% |
| 1 year to less than 2 years | 5.00% | 5.00% | 5.00% | 5.00% |
| 2 years to less than 3 years | 5.00% | 5.00% | 5.00% | 5.00% |
| 3 years to less than 5 years | 5.00% | 5.00% | 5.00% | 5.00% |
Note: The interest rates are applicable w.e.f. 15 June 2021.
| Tenure | Interest rate for general public (p.a.) | Interest rate for senior citizens (p.a.) |
|---|---|---|
| 5 years | 6.00% | 6.00 |
Note: The interest rates are applicable w.e.f. 11 June 2021.
| Tenure | Interest rate (p.a.) |
|---|---|
| 300 days | 3.50% |
| Tenure | Interest rate for senior citizen (p.a.) |
|---|---|
| 1 year to less than 2 years | 5.50% |
| 2 years to less than 3 years | 5.50% |
| 3 years to less than 5 years | 5.65% |
| 5 years and above | 5.75% |
Note: The interest rates are applicable w.e.f. 11 June 2021.
| Tenure | Interest rate for general public (p.a.) |
|---|---|
| 7 days to 14 days | 3.50% |
| 15 days to 30 days | 3.75% |
| 31 days to 45 days | 3.75% |
| 46 days to 60 days | 3.75% |
| 61 days to 90 days | 3.75% |
| 91 days to 120 days | 4.00% |
| 121 days to 180 days | 4.75% |
| 181 days to 210 days | 4.75% |
| 211 days to 270 days | 4.75% |
| 271 days or less than 1 year | 5.00% |
| 1 year to less than 2 years | 5.50% |
| 2 years to less than 3 years | 5.50% |
| 3 years to less than 5 years | 5.65% |
| 5 years and above | 5.75% |
Note: The interest rates are applicable w.e.f. 11 June 2021.
| Tenure | Interest rate for senior citizen (p.a.) |
|---|---|
| 1 year to less than 2 years | 6.00% |
| 2 years to less than 3 years | 6.00% |
| 3 years to less than 5 years | 6.15% |
| 5 years and above | 6.00% |
Note: The interest rates are applicable w.e.f. 11 June 2021.
The FD rates for Karur Vyasa Bank deposits against specific foreign currency are as follows:
| Tenure | Karur Vyasa Bank FCNR (B) FD rate p.a. | |||||
|---|---|---|---|---|---|---|
| USD | GBP | EUR | JPY | CAD | AUD | |
| 1 Year to less than 2 Years | 1.42 | 0.88 | 0.50 | 0.72 | 1.09 | 0.62 |
| 2 Years to less than 3 Years | 1.35 | 1.07 | 0.54 | 0.74 | 1.20 | 0.71 |
| 3 Years to less than 4 Years | 1.85 | 0.94 | 0.61 | 0.75 | 1.73 | 1.15 |
| 4 Years to less than 5 Years | 1.92 | 1.09 | 0.68 | 0.76 | 1.97 | 1.43 |
| 5 Years Only | 2.13 | 1.19 | 0.76 | 0.77 | 2.15 | 1.67 |
Note: The interest rates are applicable w.e.f. 11 June 2021.
Experience Fixed Deposit Calculator Online: FD Calculator
The features and benefits of Karur Vyasa Bank Fixed Deposit Schemes can be summed up as follows:
The following are eligible to invest in a Karur Vyasa Bank Fixed Deposit Scheme:
The following documents are required to start investing in a Karur Vyasa Bank Fixed Deposit Scheme:
Karur Vyasa Bank offers the following categories of Fixed Deposit Schemes:
The highest FD interest rates offered by Karur Vyasa Bank are 6.00% for domestic, NRO, and NRE deposits and 6.15% for senior citizens’ deposits.
Yes, Karur Vyasa Bank allows its customers to open an FD account online through their portal.
Yes, nomination facility can be availed for Karur Vysya Bank Fixed Deposit schemes.
Yes, loan against FD facility is offered by Karur Vyasa Bank.
Yes, PAN is mandatory for KVB Fixed Deposits if the deposit amount exceeds the mark of Rs.50,000.
Karur Vysya has short-term fixed deposits that have a period of 7-14 days and fetch an attractive interest rate of 6% per annum. This is more than compared to the rates that other competitor banks are offering.
The interest rates on term deposits less than Rs. 1 crore for regular and senior citizens, with effect from November 23, 2015, have been revised. The current rate of interest has been slashed by 0.25% and is 7.50% as against the previous rate of 7.75% for the tenor of 271 days to less than 1 year. There are four different slabs for tenors between 1 year and above 3 years - 1 year to less than 2 years; 2 years to less than 3 years; 3 years and above. The interest rates have been slashed from 8% to 7.75%. Even for the KVB tax shield, the rate has been reduced to 7.75% from the previous 8%.
Term deposits for senior citizens have also undergone interest rate cuts. In the tenor slab of 1 year to less than 2 years; 2 years to less than 3 years; 3 years to 5 years, the rate of interest has been slashed from 8.50% to the current rate of 8.25%. The rates KVB Tax Shield Deposits have also got rate cuts from 8.25% to 8%.
23 November 2015
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