Find your suitable insurance plan
104
4 min read
With its headquarters in Mangalore, Karnataka bank is a scheduled commercial bank allowing a greater reach for rural as well as urban populations. The bank not just offers retail services like mortgages, personal banking, credit cards etc., but also offers lucrative options of investment.
FD or fixed deposit is among the most noteworthy investments and the most preferred choice among customers of Karnataka bank. FDs have existed for long in India and are among the most trusted and guaranteed forms of investment with good returns.
Karnataka bank offers its customers with a range of products including FDs at interest rates that are among the best in the industry. Let us take a look at the Karnataka bank FD interest rates 2023.
|
Investment Amount |
Tenure |
Interest Rate |
| Minimum – INR 100
Maximum – No limit |
Minimum 7 days Maximum 10 years |
Minimum – 3.50% Maximum – 5.65% |
Here is a look at the Karnataka bank interest rates of FD:
| Tenure | Rates for general public | Rates for senior citizens |
| 7 days to 45 days | 4.50% | 4.90% |
| 45 days to 90 days | 4.50% | 4.90% |
| 91 days to 365 days | 5.25% | 5.65% |
| Above 1 year less than 2 years | 7.00% | 7.40% |
| 375 days (KBL centenary deposit) | 7.30% | 7.70% |
| Above 2 years to less than 5 years | 6.50% | 6.90% |
| 5 years to 10 years | 5.80% | 6.30% |
| Tax Saving FD | Interest rate for general public | Interest rate for senior citizens |
| Karnataka Bank or KBL Tax Planner (5 years) | 6.50% per annum | 6.90% per annum |
| Tenure | Interest rates per annum |
| 375 days KBL Centenary Deposit | 7.30% |
| 7 days to 10 years | Based on domestic FDs |
| Above 10 years | 5.50% |
| Tenure | Interest Rate per annum (below INR 2 Crore) | Interest Rate per annum (INR 2 Crore to INR 10 Crore) |
| 375 days (KBL Centenary Deposit) | 7.30% | 7.30% |
| 1 Year to 2 Years | 7.00% | 7.00% |
| Above 2 Year to 5 Years | 6.50% | 6.50% |
| Above 5 Year to 10 Years | 5.80% | 5.80% |
The FD calculator offered by Karnataka Bank is a simple and hassle-free tool that is used by customers to get help in calculating maturity amount quickly and efficiently. It also calculates the interest earned that is receivable by the FD investor at the end of the policy tenure. All you need is to enter certain basic details in the calculator to get the correct results.
Below are some steps that an investor can follow to calculate FD rates using the Karnataka bank FD rates Calculator:
Once you have entered all the details, you will come to know:
Karnataka bank fixed deposit rates are based on three factors namely principal amount invested, the duration of investment, and the nature of the deposit.
The bank offers comparatively higher interest rates to senior citizens. However, anyone can invest in an FD to reap benefits from the schemes offered by Karnataka bank. The maturity period of the FDs starts from 7 days and extends up to 10 years.
There are three ways to reap the payout benefits of an FD. You can either choose to collect the payout of the interest on a quarterly basis, or you can collect it on a monthly basis. Alternatively, you can collect the payout at maturity of the FD. Further, loans are also available against your Fixed Deposit.
The FDs with a tenure of 5 years are eligible for tax benefits under Karnataka Bank. However, the interest earned on the investment is taxable. If the interest earned goes beyond INR 10,000, the applicable tax is deducted at the source by Karnataka Bank.
Browse PayBima Blogs to read interesting posts related to Health Insurance, Car Insurance, Bike Insurance, Term Life Insurance, and Investment section. You can visit PayBima to Buy Insurance Online.
The Tax Saving FD interest rates offered by Karnataka Bank is 5.75% p.a. for general people, while it is 6.15% p.a. for senior citizens (for 5 years tenure).
The FDs offered by Karnataka bank for a tenure of 5 years are eligible for tax deductions, while tax is levied on the interest earned on the FD.
The FD calculator of Karnataka Bank is a simple and hassle-free tool which helps customers to calculate maturity amount quickly as well as the interest earned at maturity. You just need to enter some basic details to calculate the correct FD amount.
Yes, Karnataka Bank is considered to be a safe and reliable bank for FD investment.
7 days is the minimum period, while 10 years is the maximum tenure offered by Karnataka bank.
Resident individuals of India including minors as well as HUF or Hindu undivided families are eligible to open FD accounts with Karnataka Bank.
PayBima Team
PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.
An overview of LIC’s popular comprehensive insurance policy - Jeevan Saral - its benefits to the policyholder, and its special feature - the maturity calculator.
May 25, 2023
4 min read 
Everything you need to know about the YSR Pension Kanuka scheme, the eligibility requirements to apply, the benefits of the plan, and the different types.
May 22, 2023 4 min read 
Jeevan Saral Plan comes from the house of LIC, Life Insurance Corporation of India. Also, referred to as Plan 165, Jeevan Saral Policy is one.
May 22, 2023 4 min read 
LIC is one of the most trusted and reliable public sector insurance companies in India. The company has been serving customers with their varied insurance.
May 17, 2023 4 min read 
Unless you have planned well for your life after retirement, you may have to face a financial crunch in your old age. Let us take.
May 17, 2023 4 min read 
If you are willing to invest in market linked plans, there are two ways to do so. One is through single lump sum payment and.
May 16, 2023 4 min read 
FDs or Fixed Deposits are among the safest kinds of investments that anyone can rely on. FDs for senior citizens is the best option for.
May 15, 2023 4 min read 
HRA or House Rent Allowance is a part of a salary compensation offered by organizations to their employees above their basic salary. This post will.
May 15, 2023 4 min read 
India is one of the countries with the biggest number of banks and financial institutions in the world. One such progressive bank, the Karnataka bank,.
May 12, 2023 4 min read 
Calculators are used to calculate premiums, interest rates and other important aspects related to insurance and investments. Let us take a look at the FD.
May 12, 2023 4 min read 
Corporate Office : Mahindra Insurance Brokers Ltd ( A Mahindra Group Company ) Sadhana House, Ground Floor, 570 P. B. Marg, Behind Mahindra Towers, Worli, Mumbai 400018.
Licenced by IRDAI License No. 261; License Validity : 17-05-2025; Category : Composite Broker; CIN : U65990MH1987PLCO42609 Member of Insurance Brokers Association of India (IBAI).
Insurance is the subject matter of solicitation.
For a seamless experience, use the latest version of Chrome/Firefox/Internet Explorer.
Copyright © 2023 Mahindra Insurance Brokers. All Right Reserved.
Get A Call Back