Interest for 3 years
|Tenure||Normal Citizen FD Rate||Senior Citizen FD Rate|
|7 days - 1 month||4%||4%|
|1 month 1 day - 2 months 29 days||5.25%||5.25%|
|2 months 30 days - 5 months 27 days||6%||6%|
|5 months 28 days - 8 months 25 days||6.25%||6.25%|
|8 months 26 days - 11 months 29 days||6.5%||6.5%|
|11 months 30 days - 1 year 2 months 16 days||7%||7.4%|
|1 year 2 months 17 days - 1 year 2 months 17 days||7.5%||8%|
|1 year 2 months 18 days - 1 year 6 months 5 days||7%||7.4%|
|1 year 6 months 6 days - 1 year 6 months 6 days||7.25%||7.65%|
|1 year 6 months 7 days - 2 years 11 months 30 days||7%||7.4%|
|3 years - 9 years 11 months 28 days||6.25%||6.65%|
Note: All interest rates shown above are as on 2nd Jun 2023
Karur Vysya Bank is a Scheduled Commercial Bank in India. It has completed 103 years of operation and is one of the leading banks in India, headquartered in Karur in Tamil Nadu. The bank has a balance sheet size of Rs. 68,278 Crs as on 31st March 2020. The bank recorded a profit of Rs 235 Crs in FY20
4% - 7.5%
4% - 8%
FD Rate for Seniors
₹ 2 Crores
Loan against FD
|Investment Amount||For 3 years with interest of 7%||For 5 years with interest of 6.25%|
|₹ 50,000||₹ 61,646||₹ 68,286|
|₹ 1 lakh||₹ 1,23,293||₹ 1,36,573|
|₹ 2 lakh||₹ 2,46,585||₹ 2,73,146|
|₹ 5 lakh||₹ 6,16,463||₹ 6,82,865|
|₹ 10 lakh||₹ 12,32,926||₹ 13,65,730|
Use FD calculator to change values and compare your returns from top banks.
|Maturity Amount||₹ 1,07,229||₹ 1,06,697|
|Total Investment Amount||₹ 1,00,000||₹ 1,00,000|
|Total Interest Gained||₹7,229||₹ 6,697|
|Bank Name||FD Interest Rates|
|Kerala Gramin Bank FD||6.5% - 7%|
|Bank of India FD||6.5% - 7.25%|
|Karnataka Gramin Bank FD||6.85% - 7.35%|
|ESAF Small Finance Bank FD||6.75% - 7.25%|
|Union Bank of India FD||6.5% - 7%|
|Utkarsh Small Finance Bank FD||8.25% - 8.85%|
|IndusInd Bank FD||7.5% - 8%|
|CSB Bank FD||5.75% - 6.25%|
|HDFC Bank FD||7% - 7.5%|
|Central Bank of India FD||6.25% - 6.75%|
The flexible & tax efficient alternative to FDs.
Karur Vysya Bank offers multiple fixed deposits for various tenures with different interest rates to its investors. The interest rate on Karur Vysya Bank FDs is higher than their savings account. One can invest in Karur Vysya Bank FDs through both online and offline modes with just a minimum investment of INR 100. This article covers Karur Vysya Bank FD, its features and interest rates in detail.
The Reinvestment plan of KVB is also known as Tirumagal Tirumana Thittam (TTT). It is a long term investment plan that helps one plan their long term financial goals. The principal and the interest is paid on maturity.
The Karur Vysya Bank fixed deposit scheme offers the convenience of receiving interest at regular intervals (monthly or quarterly, or half-yearly). Also, the scheme is ideal for individuals who depend on regular interest income. However, the deposit offers only simple interest.
The Senior Citizens deposit scheme offers both cumulative and non-cumulative options for senior citizens. For senior citizen depositors, Karur Vysya Bank FD rates are high. In other words, the bank offers a preferential interest rate. Also, the interest rate of senior citizen FDs range between 3.15%-6.15%.
The tax-saving scheme deposits qualify for tax benefits under Section 80C of the Income Tax Act, 1961. Also, for a financial year, the depositor can enjoy a maximum benefit of up to INR 1,50,000. The scheme offers both cumulative and non-cumulative deposit options.
One can open a KVB Bank FD account through various modes such as Internet Banking, Mobile App and offline.
The following steps will help an individual to open a KVB FD account through internet banking:
To open a KVB FD account offline, one has to visit the nearest KVB branch. Fill the KVB FD application form and submit all the necessary documents along with the deposit amount. On successfully processing the application, Karur Vysya Bank will provide an FD receipt.
To open a Karur Vysya Bank fixed deposit scheme, one would need the following documents:
All resident individuals, HUFs, trusts, partnership firms, and companies are eligible to open a KVB FD account.
Karur Vysya Bank offers recurring deposits to its depositors. Karur Vysya Bank recurring deposits have a minimum tenure of six months and a maximum tenure of 10 years. Depositors can open an RD account either by going to the Karur Vysya Bank branch or online using internet banking. The minimum investment in Karur Vysya Bank RD is INR 1000 and thereafter in multiples of INR 10. The interest rate for regular citizens on Karur Vysya Bank RDs is in the range of 6.9% to 7%, and for senior citizens, it is in the range of 6.9% to 7.5%.
Only investment in Karur Vysya Bank Tax Saving FD qualifies for tax saving up to INR 1,50,000 per annum. Investment in no other Karur Vysya Bank FDs qualifies for tax saving under Section 80C of the Income Tax Act. The interest income from Karur Vysya Bank FD is taxable as per the investor’s income tax slab rates. Moreover, the interest income is subject to a TDS of 10% if the income from Karur Vysya Bank FD exceeds INR 40,000 per annum. For senior citizens, the limit is INR 50,000 per annum. Also, if the investor doesn’t disclose PAN Card details to the Karur Vysya Bank, then the TDS rate will be 20%.
What is the highest Karur Vysya Bank FD rate today?
What is the highest interest rate on Karur Vysya Bank 1 year FD scheme?
What is Karur Vysya Bank FD scheme interest rate for 5 years?
How many years FD will double in Karur Vysya Bank?
What is Karur Vysya Bank FD minimum deposit amount?
What is senior citizen fixed deposit interest rates in Karur Vysya Bank?
What are the available FD tenures in Karur Vysya Bank?
What is Karur Vysya Bank FD ROI for 10 lakh deposit for 1 year?
The interest from the Karur Vysya Bank FD calculator for 10 lakh deposit for 1 year will be INR 72,290. The maturity value will be INR 10,72,290. You can use Scripbox’s FD Calculator to determine the maturity value of your investment.
How to check the fixed deposit balance in Karur Vysya Bank?
How many FDs can be opened in Karur Vysya Bank?