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Karur Vysya Bank Fixed Deposit

Karur Vysya Bank FD Scheme

Last Updated 11th Jan 2021

Karur Vysya Bank fixed deposit is a reliable, secure and beneficial investment option that offers various benefits such as guaranteed returns, Government insurance, loan borrowing facility and flexible fixed deposit tenure.

Interest Rate 3.50% to 5.75%
Minimum Tenure
Maximum Tenure
Deposit Amount
Maximum Deposit
    Earn upto 6.95% on FD APPLY NOW

    Karur Vysya Bank FD

    Karur Vysya Bank is one of the leading fixed deposit providers in the country. The Bank offers FD with flexible tenures ranging between to . Apart from that, Karur Vysya Bank FD offers regular returns on fixed deposit ranging between 3.50% to 5.75%. For senior citizens, the interest rates on fixed deposits range between 0.00% to 6.15%. In addition to that, Karur Vysya Bank fixed deposit plans offer tailor-made fixed deposit products for different kinds of fixed deposit investors.

    Types of Karur Vysya Bank Fixed Deposit Schemes

    Different type of Karur Vysya Bank term deposit products offered to the investors are listed as follows:

    Benefits of Karur Vysya Bank FD

    Karur Vysya Bank fixed deposit is a popular investment option due to a number of benefits it provides to the FD investors. Some of these are listed as follows:

    • Guaranteed returns: The best thing about Karur Vysya Bank FD is that it offers guaranteed and assured returns to the investors. The return offered on fixed deposit is regulated by the Bank on a monthly, or quarterly basis, as per the Bank’s choice. Currently, Karur Vysya Bank offers FD rates up to 5.75%. The interest rates offered on Karur Vysya Bank FD is not only assured but also way higher than a savings account.
    • Insured by the Government: The Deposit Insurance and Credit Guarantee Corporation offers deposit insurance of ₹ 5 Lakh to fixed deposits across all banks. Investing in a FD with a FD provider with the highest rating of AAA, rated by ICRA and CRISIL, is a reliable investment option.Thus, Karur Vysya Bank term deposit is safe and secure, as the funds are backed by the government no matter what the current situation of the Bank is.
    • Loan against FD: The investment made in FD scheme is not only a reliable investment option but can also act as an asset. This is because Karur Vysya Bank fixed deposit allows one to borrow a secured loan against Karur Vysya Bank FD. The Bank allows a loan up to 90-95% of the FD amount. The best part about Karur Vysya Bank loan against fixed deposit is that one does not need to break his or her FD to borrow the loan.
    • Flexible tenures: Karur Vysya Bank FD offers the investors the flexibility to choose the investment tenure as per their convenience. Karur Vysya Bank offers fixed deposit for a minimum tenure of up to a maximum tenure of . Karur Vysya Bank offers different interest rates across FD tenures.
    • Flexible investment: Apart from the flexibility of tenure, Karur Vysya Bank fixed deposit offers the flexibility of funds to FD investors as funds can be invested with a minimum amount of . Apart from that, one can invest in the Karur Vysya Bank FD up to a maximum of .

    Premature Withdrawal Terms and Conditions

    Though a fixed deposit with Karur Vysya Bank means depositing funds for a fixed period of time in expectation of a regular return. However, keeping in view the instability in the markets, the Bank allows premature withdrawals of funds from a fixed deposit. This means that investors can withdraw their funds before the date of maturity to fulfil their urgent financial conditions.

    Withdrawing funds prematurely from Karur Vysya Bank will attract an interest rate lowered by below the effective rate on the date of booking the FD. The penalty charged on fixed deposits is valid only on fixed deposits with a tenure greater than seven days. In case of premature withdrawal of Karur Vysya Bank fixed deposits with tenure less than seven days, the bank does not pay any interest.

    Eligibility Criteria for Karur Vysya Bank FD

    Karur Vysya Bank FD facility can be availed by the following type of investors:

    • Indian Citizens
    • Members of HUFs or the Hindu Undivided Family
    • Business firms
    • Local governing bodies
    • Government departments
    • Employees of private limited companies
    • Trust accounts

    Documents for Karur Vysya Bank FD

    Karur Vysya Bank fixed deposit requires one to submit the following documents:

    • Passport size photographs
    • Identity proofs such as Aadhar card, passport, PAN card, and driving license.
    • Address proofs such as passport, ration card, utility bills such as water, gas or electricity bill.
    • Age proof such as birth certificate, matriculation passing certificate, and Voter ID card.
    • Bank account details such as passbook and account number.

    FAQs

    What is the loan against FD repayment tenure?

    Karur Vysya Bank offers the loan against FD facility to the FD investors with a repayment tenure of up to .

    What is the minimum investment for FDs under Karur Vysya Bank?

    Karur Vysya Bank FD can be availed with a minimum deposit of .

    What is the minimum amount for a fixed deposit in Karur Vysya Bank?

    The minimum amount required for a fixed deposit investment in Karur Vysya Bank fixed deposit is .

    What is the current interest rate on FD in Karur Vysya Bank?

    Currently, Karur Vysya Bank offers an interest rate ranging between 3.50% to 5.75% on its fixed deposits.

    What is the penalty for early withdrawal?

    The penalty for early withdrawal ranges between 0.5% to 1% in most cases, based on the loan amount and tenure.

    What is the minimum FD tenure for which a fixed Deposit account can be opened in Karur Vysya Bank?

    Karur Vysya Bank fixed deposit can be opened with a minimum tenure of .


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    Karur Vysya News - Jan 2021
    • 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 subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
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