• Karnataka Bank Recurring Deposit

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    Fees & Charges

    Promised Interest Rate

    Customer Service


    Overview of Karnataka Bank

    Karnataka Bank was founded in the year 1924 in the coastal city of Mangalore. Designated by the Reserve Bank of India as an A1+- class bank, Karnataka Bank has over 678 branches and 1000 ATMs currently. Karnataka Bank caters to the banking needs of people by providing a comprehensive range of exclusive financial products and services. Facilities like borrowing, deposits, business banking and money transfer services are provided to the customers with a high standard of professionalism.

    Karnataka Bank’s deposit products will help you maximize returns on your investments and increase your assets.

    Recurring Deposit from Karnataka Bank

    Karnataka Bank recurring deposit requires a fixed amount to be contributed monthly for a period ranging from 6 months to 10 years. Based on the interest accumulated over the investment period, the maturity value is calculated. You can save a fixed amount for future plans such as buying a vehicle, buying a home, education or holidays comfortably by only setting aside a pre-determined amount every month.

    Interest Rates for Karnataka bank Recurring Deposits

    For Deposits up to and inclusive of Rs.1 crore

    • For periods ranging from 6 months to 10 years, interest rate per annum ranges from 8.25% to 8.50% depending on the maturity pattern.

    For Deposits above Rs.1 crore to Rs.10 Crore

    • The interest rate per annum varies from 8.25% to 8.50% depending on the deposit period which ranges from 6 months to 10 years.

    Senior Citizen Benefits

    • For deposits up to and inclusive of Rs.3 crores, senior citizens are offered an additional interest of 0.50% over the general rate.

    Do enquire with the bank to find out more about prevailing interest rates for the selected tenure.

    Premature Closure Charges for Karnataka Bank Recurring Deposit

    For Deposits below Rs.1 crore

    • No penalty is levied for premature closure of deposits below Rs.1 crore.

    For Deposits of Rs.1 crore and above

    • For single rupee term deposits of Rs.1 crore and above, a penalty of 1% on applicable interest rate is levied. Applicable interest rate refers to the interest rate applicable for the tenure that the deposit has remained with the bank or the contracted rate, whichever is less.
    • If the deposit is closed for reinvestment, interest rate applicable to the period for which the deposit has remained with the bank, without penalty, shall be paid for the amount reinvested. The reinvested deposit should remain with the bank for a period longer than that of the original deposit.

    Do make an enquiry with Karnataka bank or visit the online portal for more information on premature closure charges.

    In conclusion, why look elsewhere when you have the best option for investment? With customer-centric benefits like ease of opening an account, attractive interest rates and flexible monthly deposit options, Karnataka Bank recurring deposits will help you save to achieve your financial aspirations sooner than you have expected!

    Know the Current Recurring Deposit Rates

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    Karnataka Bank RD Reviews

  • Page 1 of 1
    • Karnataka Bank Recurring Deposit
      0.5 4.0/5 "Great!"
      I have opened a Recurring Deposit account with Karnataka. I am using the account for 3 months. I closed all my loan accounts with them and they suggested me this RD account. I am depositing 10K per month. The rate of interest was normal like other banks.
      Was this review helpful? 2
      , bangalore
      Reviewed on Dec 19, 2017
    • Karnataka Bank Recurring Deposit
      "Very good services"
      0.5 4.5/5 "Excellent!"
      I had taken a recurring deposit from Karnataka bank and the process was smooth and easy. The interest rate is also good and it is beneficial as well. The customer services has always been good and up to the mark. In all, I did not face any hassle till date with them.
      Was this review helpful? 3
      , bangalore
      Reviewed on Jun 17, 2017
    • Karnataka Bank Recurring Deposit
      "Excellent Services"
      0.5 5.0/5 "Blown Away!"
      I have a recurring deposit with Karnataka bank. It was a easy process in getting the account at the bank. Not much of a procedure. The services are good. The response is good too. The rate of interest is good. There are no charges.
      Was this review helpful? 8
      , chennai
      Reviewed on Mar 11, 2016
    • Karnataka Bank Recurring Deposit
      0.5 3.0/5 "Satisfactory"
      I was not knowing about the maturity amount, however as I have my salary account with Karnataka bank, I approached this bank. But later on came to know after depositing that money, maturity amount is less. Interest rate is 9.1%. Excellent experience overall.
      Was this review helpful? 5
      , bangalore
      Reviewed on Oct 02, 2014
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