Karur Vysya Bank (KVB) Fixed Deposit Rate

Karur Vysya Bank (KVB) was established in the year 1916 and is one of the leading and trusted banks in the country. KVB fixed deposit schemes pay high interest rates to all deposit holders and has a wide range of interest payout options. The bank has a variety of fixed deposits such as regular FDs, KVB Tax-Shield FD, Regular and Senior Citizen term deposits. A high interest rate of up to 7.00% p.a. is paid on KVB fixed deposits on selected tenures. All senior citizens can enjoy the benefits of higher interest rates. Customers can apply for KVB Bank FDs online through mobile or internet banking.

Given below are the updated interest rates on Karur Vysya Bank (KVB) fixed deposits, for Regular and Senior Citizen fixed deposits:

a) KVB domestic term deposit rates

*The above interest rates are for investments less than Rs.1 crore

b) KVB 5-year tax saving FD rates

*The above interest rates are for investments less than Rs.1 crore

c) KVB Flexi  deposit FD rates 

*The above interest rates are for investments less than Rs.1 crore

Key points to note:

• Those who want to invest more than Rs.1 crore will have to contact the bank before doing so.
• Senior citizens will not be able to invest more than Rs.3 crore.

Karur Vysya Bank Fixed Deposit Interest Rates

KVB Bank pays a very competitive interest rate on all of their term deposits. The rate of interest paid is higher for a longer tenure and lesser for a shorter tenure. This is with exception to deposits that are held from 91 days to 180 days, where the interest rate is 6.90% p.a., higher than longer tenures. The bank also gives those who are 60 years and above a higher interest percentage on fixed deposits. The bank offers short, medium and long-term deposits for customers. Lets us look at them in a more detailed manner below.

Karur Vysya Bank short-term FD interest rates

• There are different time frames one can choose when it comes to short-term FDs, and this ranges from a minimum of 7 days to a maximum of 364 days.
• The interest that is paid on these fixed deposits range from 5.00% p.a. to 6.90% p.a.
• The highest rate of interest of 6.90% p.a. is paid for a tenure that is from 91 days to 180 days.
• If an investment is made from 7 days to 30 days, it will fetch you an annual gain percentage of 5.00% p.a.
• For 271 days to 364 days, the rate of interest paid is 6.75% p.a., and for 46 days to 90 days the rate paid is 6.00% p.a.
• Investors can also put their money for 300 days in the Flexi FD scheme and gain interest at the rate of 6.50% p.a.

Karur Vysya Bank medium-term FD interest rates

• The tenure for medium term deposits range from 1 year to less than 3 years.
• An interest rate of 6.75% p.a. is paid on such fixed deposit schemes.
• This is an ideal option for those who want to meet their financial goals in a certain fixed period of time like a child’s education or a big purchase.
• Investments can be made from 1 year to below 2 years and from 2 years to less 3 years.
• The rate of interest that is paid on all tenures is the same (6.75% p.a.) in this investment slab.

Karur Vysya Bank long-term FD interest rates

• Long-term term deposit pay a high rate of return when compared to short or medium term deposits.
• A lucrative interest rate of 7.00% p.a is paid on all long-term deposits that are offered by the bank.
• Customers who are seeking tax benefits can go for the tax-saver FD scheme that comes with a lock-in period of 5 years
• Those investing in the KVB Tax Shield deposit will be eligible to claim tax exemption under Section 80C of the Income Tax Act

Know more about KVB Bank Bank fixed deposits

Apply for KVB Bank fixed deposits online

Those who want to invest in a fixed deposit can do so online by logging on to the bank website. Customers have the flexibility to open an FD account through various channels such as internet and mobile banking. Those who already have a savings account with the bank, can log in to their internet banking accounts and open a deposit.

Types of  fixed deposits

When it comes to fixed deposits the bank offers a range of options for customers. Customers can choose to go for tax saver term deposits, regular term deposits, senior citizen deposits or Rainbow deposits. Rainbow deposits are an integration between a savings account and a fixed deposit account and offers holders a ‘high liquidity’ assurance.

Deposits for NRIs

KVB offers a wide range of deposit options for NRIs to help them save their foreign earnings and gain a high rate of return out of the same. The bank offers FCNR deposits in most of the foreign currencies such as USD, GBP, EUR, CAD and AUD. The bank also offers NRE deposits.