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    Overview of Karur Vysya Bank Fixed Deposit  and 2 other FDs

    Institution Name
    Deposit Amount Range
    Tenure Range
    Interest Rate
    Up to ₹1Cr
    7 Days to 10 Years
    5% - 7.5% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    NRI - FD
    Up to ₹1Cr
    1 Year onwards
    6.75% - 7% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    Up to ₹25L
    1 Year to 5 Years
    7.49% - 8.19% Monthly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    Up to ₹25L
    1 Year to 5 Years
    7.75% - 8.5% Monthly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know

    Overview of Karur Vysya Bank Fixed Deposit is Rated as "Excellent!" by 23 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Fixed Deposit BYTES FROM OUR KITCHEN

    About Karur Vysya Bank

    Karur Vysya Bank was established in 1916 by M. A. Venkatarama Chettiar and Athi Krishna Chettiar with the intention of helping the people of the textile town of Karur in Tamil Nadu. The bank was started with seed capital of ₹ 100,000, which, back in 1916, was a huge amount. Today the bank has grown to over 500 branches all over India and maintains over 1500 ATM’s.

    Karur Vysya Bank is governed by a board of directors who are chosen from a variety of fields to help the bank continue to grow and flourish in the coming years. With such an impressive set-up it is no wonder that the bank has an equally impressive list of services that they provide to their customers. These services include personal banking (including fixed deposits), online banking, utility bill payment facilities and much more.

    Karur Vysya Bank Fixed Deposits

    KVB FDs are available to a number of investors as outlined below. The salient features of these fixed deposit schemes are differing tenures, attractive interest rates and interest compounding. As a savings instrument, these FDs promise account holders higher interest than a regular savings account would making them an ideal place to park funds for both the short-term as well as for the long-term as investment avenues.

    Eligibility - Who can open an FD account with Karur Vysya Bank?

    Like most financial institutions, any person who is a resident of India or a HUF can apply to open a fixed deposit with KVB. Trusts, partnership firms, companies, clubs, societies, etc. can also open fixed deposits with KVB.

    What Fixed Deposit Schemes does Karur Vysya Bank offer?

    Karur Vysya Bank offers its customers a wide variety of fixed deposit schemes to choose from which have been designed to provide investors with FD’s that suit their individual needs. Some of these schemes are:

    • Thirumagal Thirumana Thittam
    • The Thirumagal Thirumana Thittam scheme, also known as TTT, is a scheme that is aimed at letting you invest today so as to have finances ready to take care of future needs like education or weddings. In this scheme you can invest a minimum of ₹ 100. There is no limit on how much you can invest under this scheme. This deposit needs to be opened for a minimum of 6 months and a maximum tenure of 10 years. Under this scheme the tenure must always be in multiples of 3 months.

    • Fixed Deposits
    • As the name suggests, this is a regular fixed deposit which can be started with as little as ₹ 100. The tenure for such deposits ranges from 15 days to 10 years. The interest earned on such a deposit is payable on a monthly/quarterly/half-yearly/ annual basis however payments made on a monthly basis will be done at discounted rates.

    • Senior Citizen Deposits
    • This is a scheme that has been designed to help senior citizens invest their money. Under this scheme depositors are entitled to special interest rates if the deposit is made for 1 year to 5 years. However, special interest rates are only applicable on deposits of up to ₹ 5 Cr. One condition that this deposit has is that proof of age must be submitted at the time of opening this fixed deposit account.

    • KVB Manimala
    • If depositors are unable to make lump-sum deposits then this is the ideal scheme for them because this one allows for monthly deposits to be made. The minimum deposit must be of ₹ 100 and any further investment must be done in multiples of ₹ 25. The minimum tenure of such a deposit is 6 months and the maximum is 10 years. If the depositor fails to pay a monthly deposit then they may have to pay a penalty.

    • KVB Tax-Shield
    • For those who are looking for tax benefits on their fixed deposits, this is the ideal scheme. The tenure of this scheme is 5 years. The investment amount needs to be a minimum of ₹ 100 and a maximum of ₹ 1, 50,000 in a year. Payments made towards this scheme can be shown under section 80C for tax benefits. This deposit does not allow for early withdrawal or loans against the FD.

    • Rainbow Deposits
    • This fixed deposit comes attached to savings bank account and has all the attributes of both fixed deposits and savings accounts. It also comes with free accidental/death insurance cover of ₹ 100,000. The tenure of this deposit is 91 days and senior citizens won’t be able to avail special interests under this scheme.

    • KVB Flexi Term Deposit
    • This is a term deposit scheme that is offered to those who will to invest higher amounts of money in fixed deposits. The minimum amount for this scheme is ₹ 1 Cr. It is a short term deposit and can be held only for 300 days at a time. The interest rate offered on this deposit is about 8% per annum. In case the depositor wants to close the account prematurely, he can do so without incurring penalties after the minimum 15 day period is over.

    What is the minimum amount required to open an FD account with KVB?

    The minimum amount required to open an FD with Karur Vysya Bank depends on the type of fixed deposit that you want to open. For most schemes the minimum amount required is ₹ 100 but in the case of the KVB Flexi Term Deposit, the minimum amount required is ₹ 1 Cr.

    What is the maximum amount that can be deposited in a KVB FD account?

    There is no limit on how much amount can be put in a fixed deposit with KVB, however deposits made in excess of ₹ 1 Cr may require clearance from the bank. The only place where there is an actual limit on the amount that can be invested is for senior citizens. In their case the limit is ₹ 5 Cr. and is linked to the Senior Citizens Deposit scheme.

    What is the minimum / maximum period for which funds can be held in as fixed deposits with Karur Vysya Bank?

    The minimum and maximum time periods for which funds can be held in an FD may differ from one scheme to another. The absolute minimum is 15 days and the maximum is 10 years or 120 months. In the case of the Tax Shield scheme the tenure is fixed at 5 years with no premature closure permitted.

    What is the procedure to open a fixed deposit account at Karur Vysya Bank?

    If you want to open a fixed deposit with Karur Vysya Bank then all you have to do is to visit the BankBazaar website. There you will be provided with a calculator that will help you decide on the amount and tenure of the fixed deposit and also show you the amount you’ll get at the time of maturity. Once you have decided on all of this, you can download the FD form from the site, fill it up and submit it at any branch of KVB. You will also be required to submit relevant supporting documents like address proof and identity proof.

    What are the interest rates offered on Karur Vysya Bank fixed deposits?

    The interest rates offered on Karur Vysya Bank fixed deposits may vary from scheme to scheme. It will also depend on the duration of the term deposit and the amount that is being deposited. In general, the lowest interest rate offered by them is 6% and the highest is 8.9%. In the case the TVB Flexi Term Deposit, which requires a minimum of ₹ 1 Cr, the interest rate offered is 8%. Senior citizens are entitled to claim a special interest rate of up to 9.4%.

    Does KVB offer tax saver fixed deposits?

    Yes, KVB does offer tax saver fixed deposit schemes. It is known as the KVB Tax-Shield and allows investors to invest a minimum of ₹ 100 and a maximum of ₹ 1.5 lakhs. The tenure is fixed at 5 years and in case of joint account, tax benefits are extended only to the primary holder.

    Are FD accounts with KVB taxable?

    Yes. The interest earned on fixed deposits with Karur Vysya Bank are taxable under relevant laws however, if a person does not fall under a tax bracket and has furnished forms 15G and 15H then they may be exempted from tax deductions. The tax on interest earned is generally deducted at source by the bank.

    What are the main features of Karur Vysya Bank fixed deposit schemes?

    The feature that you can expect to see associated with KVB fixed deposits are:

    • Nomination facilities
    • Loans against fixed deposits
    • Special interest rates for senior citizens
    • Tax benefits under section 80C
    • Free accidental/death insurance of ₹ 100,000

    It must be noted that the feature of each FD scheme may vary as per the scheme selected.

    Are loans provided against FDs at Karur Vysya Bank?

    Yes. KVB does provide loans against FD’s maintained with them. The amount of the loan will be a predefined percentage of the deposited amount and may vary from scheme to scheme. There may also be some schemes under which loans against FD’s may not be permitted.

    Does KVB offer senior citizens special rates on their fixed deposits?

    Yes, KVB does offer senior citizens special interest rate. These rates range from 9.15% to 9.4% and are subject to the time period for which the deposit is being held.

    Does KVB issue credit cards against fixed deposits held at Karur Vysya Bank?

    No, Karur Vysya Bank does not offer credit cards against fixed deposits held with them.

    What happens if the fixed deposit is closed prematurely?

    In case your FD is opened under the KVB Tax-Shield scheme there is no option to close it prematurely since it comes with a lock-in period of 5 years. For all other fixed deposits, premature withdrawals are permitted. If the FD is closed within 8 days, no interest will be paid to the depositor.

    For NRE deposits, there is no penalty applied for premature withdrawals provided the deposit amount is more than Rs. 15 lakhs and the deposit has stayed with the bank for at least 1 year.

    Does Karur Vysya Bank offer term deposits for NRIs?

    Yes, the bank does offer NRE and FCNR term deposits. The interest you earn on an NRE deposit ranges from 8.5% per annum for deposits held for 1 or 2 years to 8.75% per annum for deposits held for durations longer than 2 years.

    In the case of FCNR deposits, the deposit can be created in USD, Euro, JPY, GBP, CAD and AUD. The interest rates offered will depend on the currency in which you open the deposit and the duration will range from 1 year to 5 years.

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  • Karur Vysya Bank Fixed Deposit Reviews

    • Karur Vysya Bank Fixed Deposit
      "Good"
      0.5 3.5/5 "Pretty good"
      I am having the fixed deposit account with the Karur Vysya bank and the account got opened within one to two days of time. Tenure is for five years of time and after that it will be get matured. Rate of interest was around 8.5% to 9% on that time with the tax redemption.
      Was this review helpful? 3
      , hyderabad
      Reviewed on May 23, 2017
    • Karur Vysya Bank Fixed Deposit
      "Nice"
      0.5 4.0/5 "Great!"
      Primarily , I was holding a savings account with KVB, based on which I had opened a fixed deposit. The interest rate offered by them was very reasonable which was 8.5% and it may extend to 9%. I had visited the branch to open this FD and I carried by ID proof and address proof along with me for the same purpose. I did not get any sort of correspondence regarding this FD but the amount would be credited to my account every month automatically.
      Was this review helpful? 2
      , erode
      Reviewed on Sep 08, 2016
    • Karur Vysya Bank Fixed Deposit
      "Friendly service"
      0.5 4.0/5 "Great!"
      I prefer investing in KARUR VYSYA BANK as the interest rate is on the higher side. The rate of interest offered was around 11.75% as interest rate and the customer service was good. I had deposited for a period of three years of time and I dint face any issues with them. They used to work all the days.
      Was this review helpful? 8
      , chennai
      Reviewed on Jun 09, 2016
    • Karur Vysya Bank Fixed Deposit
      "Good benefits"
      0.5 4.0/5 "Great!"
      I had taken a Fixed deposit scheme with Karur Vysya Bank for a year. The benefit with their scheme is that I can break the deposit at any time and its calculated on the prevailing rate and no deductions are imposed. They also pay the TDS. I had paid around Rs.1.5Lakh for an interest rate of 8.5% which was getting transferred to my savings account.
      Was this review helpful? 7
      , tiruchirapalli
      Reviewed on May 04, 2016
    • Karur Vysya Bank Fixed Deposit
      "For returns Karur Vysya Bank"
      0.5 3.0/5 "Satisfactory"
      I got the fixed deposit account with the Karur Vysya Bank. They are providing good rate of interest to the customers. The services are not much fine with them like they are not moving in the customer friendly manner. Responsiveness is also not so good. Minimum lockin period ranges from seven days to seven years of time.
      Was this review helpful? 6
      , hosur
      Reviewed on Apr 23, 2016
    • Karur Vysya Bank Fixed Deposit
      "Service is best...."
      0.5 2.0/5 "Expected more"
      I put the fixed deposit for seven years. Interest rate was good I guess at Karuru Vysya bank for the fixed deposit. At the time of maturity they give almost double and very glad on that. Service is not hat satisfactory but they done the best. They have to improve on service and they have to process the loan quickly.
      Was this review helpful? 3
      , chennai
      Reviewed on Feb 23, 2016
    • Karur Vysya Bank Fixed Deposit
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I do have the fixed deposit account with the Karur Vysya Bank and I can say that I used to do lot of transaction with the Karur Vysya Bank. The interest rate is good with them and the processing charges were nil with them. Interest rate is good with them for my deposit.
      Was this review helpful? 14
      , bangalore
      Reviewed on Feb 03, 2016
    • Karur Vysya Bank Fixed Deposit
      "Very good"
      0.5 5.0/5 "Blown Away!"
      I have the fixed deposit with the Karur Vysya Bank and I have it from the last one year of time. The rate of interest is around 8.5% and the services are very good because they are giving the best customer service and the response. From the point of view with the customers they are very good.
      Was this review helpful? 7
      , bangalore
      Reviewed on Dec 10, 2015
    • Karur Vysya Bank Fixed Deposit
      "Excellent"
      0.5 4.0/5 "Great!"
      I had the fixed deposit account with the Karur Vysya Bank for the rate of interest as 9.5% for the one year of time which is the best on that time. There is no minimum lock in period with them like whenever I want I can withdraw the money but they will debit 1% returns from the interest.
      Was this review helpful? 3
      , chennai
      Reviewed on Oct 20, 2015
    • Karur Vysya Bank Fixed Deposit
      "Shake hands"
      0.5 5.0/5 "Blown Away!"
      I do have the fixed deposit account with the Karur Vysya bank for the rate of interest which made me happy. Minimum lock in period is optional which is up to us, I used to have around couple of years. Charges are nothing much and I can say that they are transparent to the customers.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Sep 25, 2015
    • Karur Vysya Bank Fixed Deposit
      "Wonderful..."
      0.5 5.0/5 "Blown Away!"
      Like the services of Karur Vysya bank as the employees are reverting immediately and customer service is awesome so I got this fixed deposit. Rate of interest is competitive for FD in comparison to other banks. Actually Karur Vysya is not prolonging any kind of process as they are very fast. Payment option can be chosen by customer as we can chose quarterly, half yearly and yearly mode.
      Was this review helpful? 2
      , coimbatore
      Reviewed on Aug 25, 2015
    • Karur Vysya Bank Fixed Deposit
      "Good bank"
      0.5 4.0/5 "Great!"
      Good bank, nice response, Caring. Offering good interest rate. Most secured. Had joint a/c more than 3 years. No issues so far. Employees are more caring. They will remind us regularly if any form is not submit ex: 15G and happy to associate with this bank.
      Was this review helpful? 10
      , hyderabad
      Reviewed on Jul 17, 2015
    • Karur Vysya Bank Fixed Deposit
      "Better service with higher charges!"
      0.5 4.0/5 "Great!"
      KVB offers better interests in private sector banks. But they also have higher service charges when compared to banks or institutes in private sector. Karur Vaisya Bank doesn't have enough branches available for convinience/easy availability as & when needed.
      Was this review helpful? 4
      , bangalore
      Reviewed on Jun 02, 2015
    • Karur Vysya Bank Fixed Deposit
      "Moderate!!!"
      0.5 5.0/5 "Blown Away!"
      I deposited one lakh in Karur Vysya bank for fixed deposit in the name of my kid and on quarterly basis the interest accumulates to my account. Employees of the bank are very good. Interest rate is between 8.6%-8.75%, I guess, government banks will provide higher rate than this. I preferred Karur Vysya bank for FD because the process was smooth when compared to government banks. Pre-matured charges are high where Karur Vysya is cutting down the charges.
      Was this review helpful? 5
      , chennai
      Reviewed on Apr 28, 2015
    • Karur Vysya Bank Fixed Deposit
      "Excellent Services"
      0.5 5.0/5 "Blown Away!"
      I have a fixed deposit with Karur Vyasa bank. The experience was so good and the customer support executive advised me with all the benefits. The response from them was very prompt. The deposit can be taken any time we require money for which there is deduction in the interest rates. They provided me proper follow ups and also excellent services.
      Was this review helpful? 1
      , gandhidham
      Reviewed on Nov 27, 2014
    • Karur Vysya Bank Fixed Deposit
      "Wonderful plan!!!"
      0.5 4.0/5 "Great!"
      If we have Fixed deposit, we can pull cash out in emergency cases. In comparison to other banks, Karur Vysya bank is giving high rate in respect to FD but when I availed the rate was 8.25% but now it increased. Opened FD for tenure of 2 years so I am getting simple interest. Karur Vysya is wonderful in customer service. Branch is very near by my place so it is very convenient to visit branch for any assistance.
      Was this review helpful? 2
      , bangalore
      Reviewed on Nov 27, 2014
    • Karur Vysya Bank Fixed Deposit
      "Very good"
      0.5 5.0/5 "Blown Away!"
      I would recommend Karur Vysya bank strongly to my friends as they are not like normal banks and they are somewhat different. They are giving offers like nationalized banks and they wonâ??t charge anything extra. For senior citizen they are offering rate of interest above 10% on fixed deposit but I would say it as moderate rate. I would they are doing good but they can enhance more than what they are giving now. Overall, my experience is really good.
      Was this review helpful? 1
      , chennai
      Reviewed on Nov 25, 2014
    • Karur Vysya Bank Fixed Deposit
      "Rate of interest now 9% wef 12-nov-2014"
      0.5 3.5/5 "Pretty good"
      I already had FD, and I was planning for another FD but suddenly the rates got slashed to 9%. Looks like Bankbazar missed this update. Flexi RD is also missing from KVB. I am in need of them. I like their Sunday Banking which is in residential area of our locality.
      Was this review helpful? 3
      , hyderabad
      Reviewed on Nov 18, 2014
    • Karur Vysya Bank Fixed Deposit
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I do have one fixed deposit from karur vysya bank . Very good customer service . Excellent and awesome. When I applied for home loan they processed within 5 days of time based on my fixed deposit account. Very perfect . Totally I am very much happy about their service
      Was this review helpful? 2
      , bangalore
      Reviewed on Oct 11, 2014
    • Karur Vysya Bank Fixed Deposit
      "BEST BANK"
      0.5 5.0/5 "Blown Away!"
      KVB always provides highest fixed deposit rates at any given time. I feel so much satisfied banking with KVB. Very user friendly bank and cooperating staff. Easy account opening and all tech prod are available with KVB. best bank to stay with for all demographics
      Was this review helpful? 1
      , hyderabad
      Reviewed on Sep 24, 2014
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