Karnataka Bank launched ‘KBL Centenary Deposit Scheme

Karnataka Bank launched ‘KBL Centenary Deposit Scheme: With effect from October 17, 2022, Karnataka Bank has introduced a term deposit program called the “KBL Centenary Deposit Scheme.” It is a special term deposit program with a higher rate of interest, to celebrate the magnificent journey towards its Centenary and to reward its customers.

What is KBL Centenary Deposit Scheme?

KBL Centenary deposit scheme will have an interest rate of 7.20% p.a. for a duration of 555 days. The interest rate for senior citizens will be 7.60% p.a. Customers have a fantastic opportunity to save money and invest it for higher profits. It offers a higher rate of interest to commemorate the successful progress toward the centenary.

By adopting this deposit scheme, the Karnataka Bank will join the ranks of the premier banks that are currently offering the highest rate of interest on term deposits in the banking industry.

About Karnataka Bank

• Karnataka Bank is private-sectoror bank.
• Current account, demand, time, cumulative, cash certificates, insurance linked savings bank deposits, resident foreign currency accounts, and senior citizens deposit schemes are among its goods and services.
• It was founded 98 years ago on 18 February 1924.
• Headquarters: Mangaluru, Karnataka
• Chairman of the bank: P Pradeep Kumar