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Karur Vysya Fixed Deposit Interest Rates

FD Interest Rate in Karur Vysya Bank 2022

Last Updated 09th Dec 2021

When it comes to the FD interest rate, the highest rate offered on Karur Vysya Bank FD is 5.60%. Latest Karur Vysya Bank FD interest rate for senior citizens, on the other hand, ranges between 3.50% to 6.10%.You can earn up to ₹ 28,000 per lakh by investing some money in a fixed deposit account.

Time Duration FD Interest Rates Today Current FD Interest Rates for Senior Citizen
7 days to 14 days 3.25% 3.50%
15 days to 30 days 3.25% 3.75%
31 days to 45 days 3.25% 3.75%
46 days to 90 days 3.25% 3.75%
91 days to 120 days 3.50% 3.50%
Earn upto 7.05% on FD APPLY NOW

Karur Vysya Fixed Deposit Features

Karur Vysya Bank FDs are one the best investment options available for depositors who are looking to invest in a fixed income instrument and earn higher returns than the savings account. Key Features of Karur Vysya Bank Fixed Deposit are:

  • Deposit Amount : Karur Vysya Bank FD can be opened with an amount as a low to up to No Limit.
  • FD Tenure : Ranges between 7 days to 5 years.
  • Interest Rate Range : 3.25% p.a. to 5.60% p.a.
  • Senior Citizens FD Rate : 3.50% p.a to 6.10% p.a.
  • Highest Interest Rate : As per today’s rate, Karur Vysya Bank’s highest interest rate on FD is 5.60% offered for a tenure of 5 years.
  • Safety of Karur Vysya Bank Deposits : Karur Vysya Bank deposits are covered under the Deposit Insurance Scheme of RBI in which up to ₹ 5 lakh of all deposits of a depositor are insured by DICGC.
  • Loan against FD : Karur Vysya Bank provides loan against FD to help its depositor meet their liquidity requirements without breaking the FD.
  • Auto- Renewal Facility : Available
  • Nomination Facility : Available
  • Popular FD Schemes : Standard Fixed Deposit

Karur Vysya Bank FD Interest Rates Today

Interest rates on Karur Vysya Bank deposits are updated regularly by the Government of India. The following are updated Karur Vysya Bank FD interest rates 2022:

Tenure Interest Rate
7 days to 14 days 3.25%
15 days to 30 days 3.25%
31 days to 45 days 3.25%
46 days to 90 days 3.25%
91 days to 120 days 3.50%
121 days to 180 days 3.75%
181 days to 270 days 4.00%
271 days to 364 days 4.25%
1 year to 1 year 364 days 5.15%
2 years to 2 years 364 days 5.25%
3 years to 5 years 5.25%
5 years 5.60%

Karur Vysya Bank FD Rates for Senior Citizens

With an aim to attract senior citizens above the age of 60 years to invest in the fixed deposits, Karur Vysya Bank offers a higher interest rate to senior citizens than the general public. Fixed deposit interest rates for senior citizens in Karur Vysya Bank 2022 are as follows:

Tenure Interest Rate for senior citizens
7 days to 14 days 3.50%
15 days to 30 days 3.75%
31 days to 45 days 3.75%
46 days to 90 days 3.75%
91 days to 120 days 3.50%
121 days to 180 days 5.65%
181 days to 270 days 4.00%
271 days to 364 days 4.25%
1 year to 1 year 364 days 5.65%
2 years to 2 years 364 days 5.75%
3 years to 5 years 5.75%
5 years 6.10%

Karur Vysya Bank Fixed Deposit Rates – Premature Withdrawal

You can close your Karur Vysya Bank FD account prematurely, however Karur Vysya Bank charges a penalty of 1% for deposits above Rs. 1 crore for premature withdrawal. Also, The penal provisions for premature closure on Karur Vysya Bank FD are subject to change from time to time and may also vary with deposit schemes.

Nomination Facility on Karur Vysya Bank FD

Karur Vysya Bank also offers a nomination facility on Fixed Deposit to claim the amount in case of the depositor's death. You can file the details of only 1 nominee when opening an Karur Vysya Bank FD account. The nominee has to submit his/her identification proof at the time of claim.

Karur Vysya Bank Fixed Deposit Scheme

Standard Fixed Deposit

Description:

  • Under this scheme bank offers nomination facility , loan against FD and free accidental or death insurance for up to Rs 1 lakh. Also an investor can avail tax benefits under section 80C.
  • The higher interest rate for senior citizens.
  • Partial and full premature withdrawal is allowed.
  • Reinvestment, Quarterly Payout, and Monthly Payout available.

Who is eligible?

  • Resident Indians, Hindu Undivided Families, Sole proprietorship firms, Partnership firms, Limited companies and Trust accounts.

Earn upto ₹ 28,000 Per Lakh on Karur Vysya Bank Fixed Deposit?

To earn ₹ 28,000 per lakh on an online FD for 60 months:-

  • Investment Amount - ₹ 1,00,000
  • FD Interest Rate - 5.60%
  • Tenure - 60 months
  • Calculation formula - Simple interest
  • Interest Payout - ₹ 28,000
  • FD Maturity Amount - ₹ 1,28,000

Note: Before investing in a fixed deposit account, you must compare the FD rates offered by different financial institutions. This way, you can earn the maximum returns.

Documents Required to Open Fixed Deposit Account in Karur Vysya Bank

  • PAN and Aadhaar card
  • Age proof (Birth certificate, matriculation certificate, etc,)
  • Passport size photographs
  • Bank A/c details

FD Account Opening Process at Karur Vysya Bank

To open an Karur Vysya Bank Fixed Deposit, follow the steps as mentioned below:

  • Visit the official website of Karur Vysya Bank and log in to your FD account.
  • From the menu, choose the Fixed Deposit option, the Type of FD you want to open and click on proceed.
  • Enter the deposit amount and select the ‘Senior Citizen’ option if you are above 60.
  • Now, choose the deposit tenure and interest payout frequency.
  • Finally, click on Submit to open the Karur Vysya Bank FD after reading the terms and conditions.

Loan Against Fixed Deposit Karur Vysya Bank

Karur Vysya Bank offers loans up to 90% against its own deposit. Note that Karur Vysya Bank will not give you loan against FD of any other bank. Karur Vysya Bank offers Loan against FD at the rate of 4.25% to 6.6%

Illustration - Mr. Rahul has opened a fixed deposit of ₹ 1,00,000 for 2 years in Karur Vysya Bank. The borrower later decided to take a loan against his FD. The bank has approved a credit limit of 90% against his FD at 10% interest rate. Now, if the borrower draws ₹ 90,000 on the first of the month and then repays the money on the 1st of next month, then he is supposed to pay the interest on ₹ 90,000 available for 1 month only. The amount he repays after 1 month is ₹ 90,744. So, the interest charged on the loan taken is ₹ 744.

FAQs

What is the highest fixed deposit interest rate for Karur Vysya Bank?

You can earn a maximum interest of 5.60% on Karur Vysya Bank fixed deposit deposits for a tenure of 10 months.

Are there any special rates for senior citizens FD of Karur Vysya Bank?

Yes, senior citizens get a higher rate on their deposits compared to FD rates. The rate of regular FD are in the range of 3.25% to 5.60%. Compared to this, Karur Vysya Bank senior citizens FD are in the range of 3.50% to 6.10%.

What are the current Karur Vysya Bank FD interest rates 2022?

Current interest for FD in Karur Vysya Bank ranges between 3.25% - 5.60%. for different tenure.The highest rate is offered on a tenure 6.10 months/years. For senior citizens the interest rates ranges bweteen 3.50% - 6.10%.

Is there any minimum amount that I have to give for opening a Fixed Deposit with Karur Vysya Bank?

The minimum deposit amount required to book an FD with Karur Vysya Bank is and there is no limit for maximum amount.

Did Karur Vysya Bank increase FD rates in 2022?

No, Karur Vysya Bank has reduced its Fixed Deposit rates by upto 0.15%. The best rate on Karur Vysya Bank FD has been cut to 5.60% from 5.75% earlier. The fixed deposit rates of Karur Vysya Bank are now in the range of 3.25% to 5.60% with effect from 15 Dec, 2021.

Is it possible to change the tenure of my existing fixed deposit account with Karur Vysya Bank?

No, it is not possible to alter the tenure selected for the fixed deposit account once the account is opened. However, you may close your existing fixed deposit account and can open a new account with a desired tenure of your choice.

What are the implications of opening an FD bank account without having PAN?

Following are the implications for the customers opening an FD account with Karur Vysya Bank without their PAN card

  • Your TDS will be deducted at the rate of 20% as against 10% under section 206AA
  • NO TDS credit from the Income Tax department
  • NO TDS certificate will be issued
  • Form 15G/H and other exemption certificates will be invalid and penal TDS will apply

Can a customer open an FD account online in Karur Vysya Bank?

Yes, you can submit your application for opening an FD account on the website of Karur Vysya Bank. After submitting the application, you will be contacted by the bank’s representative for the further process, which includes filling an application process and submitting KYC documents.

In how many years FD will double in Karur Vysya Bank?

The interest rate on FD depends upon the tenure you choose. To know the time period in which your FD amount will get doubled, you need to divide 72 the 5.60%. For Karur Vysya Bank FD the number of years in which your FD will get doubled is; 72/5.60 = 13

What is the interest of 1 lakh in the Karur Vysya Bank?

The interest on Karur Vysya Bank fixed deposit depends on the tenure of the FD for which it is deposited. The highest interest rate is 5.60% for tenure and banks offer senior citizens little more, which is 6.10%.


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Karur Vysya News - Jan 2022
  • 2021-07-09 : Karur Vysya Bank changed its FD rates
    With effect from 08th July 2021, Karur Vysya Bank has revised its FD interest rates. As per the revised rates, the rate of interest for a tenure of 7 days to 90 days, the rate is 3.25%; the rate for 91 days to 120 days stands at 3.50% and for 121 days to 180 days, the revised rate is 3.75%. The rates for 181 to 270 days stands at 4%, while the rates for a longer tenure, 271 days to less than 1 year is 4.25%. The rate for above 1 year to less than 2 years is 5.25% and the rate for 2 years to less than 5 years is 5.50%. The rate for the longest tenure of 5 years and above stands at 5.75%.
  • 2021-06-01 : Karur Vysya Bank posted 24% growth in Q4 net
    Karur Vysya Bank posted a 24% rise in its net profit at Rs 104 crore in the last quarter of the fiscal ended March 2021. The profit was boosted by retail loans home, LAP, personal, two-wheeler, car education and doctor loan along with business and mudra loan. The lender credit growth during the year was higher at 8.87% and gross advances reached Rs 52,820 crore.
  • 2020-07-08 : Karur Vyas Bank revised FD rates
    Karur Vyas Bank changed its fixed deposit rates. The FD rates for 7 to 14 days is 3.50%, it is 3.75% for 15 to 90 days and stands at 4.75% for 91 to 270 days. The Fixed deposit rates is 5% for 271 to 364 days and stand at 5.70% for one year to less than 2 years. Further, the FD rates for the long tenors of 2 years to three years and above is 5.85%. The revised rates are in effect from 8 June 2020.
  • 2020-05-14 : Karur Vyas Bank revised FD rates
    Karur Vyas Bank changed its fixed deposit rates. The FD rates for 7 to 14 days is 4.15%, it is 4.40% for 15 to 30 days and stands at 4.65% for 31 to 45 days. The Fixed deposit rates for 46 to 90 days is 4.90%, it is 5.65% for 91 to less than one year and stands at 6% for one year to less than 2 years. Further, the FD rates for the long tenors of 2 years to three years and above is 6.05%. The revised rates are in effect from 11 May 2020.
  • 2019-01-16 : Karur Vysya Bank revises interest rate on fixed deposits by 50 basis points
    Karur Vysya Bank (KVB) has revised the interest rate of fixed deposits on January 7, 2019. The interest rates have been hiked for fixed deposits less than Rs. 1 crore only. Interest rate of fixed deposit with 7 to 14 days period has been hiked to 5.00%. While the rates for 1 year have been hiked to 7.25%, while the rates for senior citizens now stands at 7.75% respectively.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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