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Karur Vysya Bank FD Interest Rates

3.25% - 3.50%
Interest rates
3 months - 10 years
Time Period
100 - no limit
Min. - Max amount
QUARTERLY
Compounding

About Karur Vysya Bank FD

Karur Vysya Bank is an Indian Scheduled Commercial Bank. It has been in existence for 100 years and is one of India's largest banks, with its headquarters in Karur, Tamil Nadu. M. founded it in 1916. Athi Krishna Chettiar and A. Venkatarama Chettiar.

Investing in fixed deposits is an excellent way to obtain good returns without having to deal with market concerns. With competitive KVB FD interest rates, investors have a strong opportunity to both protect and grow their capital. Karur Vysya Bank offers a variety of FD plans from which to pick according to one's needs.

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Started On1916
Head QuartersTamil Nadu
CRISIL RatingNA
CEOMr. Sakthi Vel
Listed on exchange asKarur Vysya Bank Ltd.
ICRA RatingNA

Karur Vysya Bank FD Rates 2022

TenureRegular customersSenior citizens
1
2

Features and Benefits of Karur Vysya Bank FD

  • Loan on Deposit Schemes: Loan facility provided on deposits.
  • Lowest tenure is 7 days and max tenure is 10 years
  • Individuals, HUFs, Trusts, and other entities can create accounts, and nominations are accepted.
  • Premature closure is permitted.
  • There are choices for semi-annual, quarterly, and monthly interest payments.

Types of Karur Vysya Bank FD Schemes

KVB Fixed Deposit Scheme

This FD plan is ideal for investors who wish to receive a regular income from interest. It gives investors the choice of receiving yield semi-annually, quarterly, or monthly. Individuals, members of the Hindu Undivided Family, corporations, associations, trusts, partnership firms, and so on can participate in the system.

  • Tenure ranges from 15 days to ten years.
  • Min. The amount of the deposit is Rs. 100.
  • Simple interest is paid monthly, quarterly, or semi-annually.
  • Senior Citizen Rates: An additional 0.50 percent interest rate over the standard rate of interest.
  • Premature Withdrawal: This option is available (subject to applicable standards).
  • Loan against FD: This option is available.
  • There is a nomination facility provided.
  • Monthly interest payments yield discounted returns.
  • There are no limits on the maximum amount that may be placed.
  • TDS will be levied on interest earned.

KVB Senior Citizens Deposit Scheme

This KVB FD program is specifically intended to meet the investing needs of older persons. A senior citizen is defined as someone above the age of 60.

  • 1 - 5 years tenure
  • Maximum Deposit Amount: Rs. 3 crore.
  • Simple interest; paid quarterly/on maturity; an extra 0.50 percent interest rate over the standard rate of interest.
  • Premature Withdrawal: This option is available (with penalty).
  • Loan against FD: This option is available.
  • There are both cumulative and non-cumulative options available.
  • It is required to give a nominee.
  • Age verification is required to obtain favorable KVB FD interest rates.
  • NRIs are not eligible for Karur Vysya Bank deposit rates.

KVB Tax Saving Deposits

The KVB tax-saving fixed deposit plan is intended to give taxpayers the option of claiming a deduction under Section 80C. Income tax exemption is available up to a maximum of Rs. 1.5 lakh. More information on the plan is provided below:

  • The term is five years.
  • Deposit range: Rs. 100 to Rs. 1.5 lakh.
  • Interest rate: Simple interest, paid quarterly/on maturity.
  • Senior Citizen Rates: An additional 0.50 percent interest rate over the standard rate of interest.
  • Premature Withdrawal: This option is not available.
  • Loan against FD: This option is not available.
  • For deposits of up to Rs. 1.5 lakh, you are eligible for tax advantages under Section 80C of the Income Tax Act of 1961.
  • There is a 5-year lock-in term.
  • Nominations are accepted.
  • In the event of a shared A/C, the first holder of the deposit is entitled to a tax break.
  • TDS is levied at the current rates.

Thirumagal Thirumana Thittam (TTT)

The Karur Vysya Bank Thirumagal Thirumana Thittam (TTT) program is designed for investors who want to invest money to fulfill long-term financial goals such as paying for a child's education, marriage, and so on.

  • Tenure ranges from 6 months to 10 years.
  • Min. The amount of the deposit is Rs. 100.
  • Interest is compounded on the cumulative balance and paid at maturity.
  • Premature Withdrawal: This option is available (subject to applicable norms).
  • Loan against FD: This option is available.
  • Individuals, trusts, corporations, organizations, HUFs, and other entities may apply.
  • There is a nomination facility provided.
  • Reinvestment of earned interest results in the creation of wealth.
  • If the FD is retained for minor purposes, it can be kept for a maximum of 20 years.

Term wise Karur Vysya Bank FD Rates

Short-term deposit

 The short-term deposit ranges from a period of 7 days to 1 year. The interest rate for general customers is 3.25% to 4.25%, and the same follows for senior citizens.

Medium-term deposit

Medium-term deposit ranges from 1 year to 5 years, and the general interest offered is 5.25% to 5.5% and 5.75% to 6% for senior citizens.

Long-term deposit

Long-term deposits are for 5 years and above, and the interest rates for general and senior citizens are 5.75%.

Karur Vysya Bank vs Other Banks' FD Rates

NameTenureInterest rate
1
2
3
4
5

How to invest in Karur Vysya Bank FD?

A Karur Vysya Bank FD account can be opened through different modes like Mobile App, Internet Banking, and offline.

1) Internet Banking

Follow the below-mentioned steps for opening a Karur Vysya Bank FD account via internet banking-

  • Sign in to the KVB netbanking account.
  • Under the navigation tab, in ‘Personal’, choose the type of deposit.
  • Click on ‘Apply now'.
  • Provide all the required information in the account opening form. Fill out the payment, maturity, interest payout instructions.
  • After verifying all the details, click on ‘Submit. On successful processing of the application, a notification will be received.

2) Mobile App - KVB DLite & Mobile Banking App

Follow the steps mentioned ahead to open an FD account via KVB DLite & Mobile Banking App-

  • Download the KVB DLite & Mobile Banking App.
  • Sign in to the KVB account.
  • In ‘Services’, click on ‘Deposits’ and choose the type of deposit.
  • Provide all the required information in the KVB FD account opening form. Fill out the maturity, payment, interest payout instructions.
  • After verifying all the details, click on ‘Submit. On successful processing of the application, a notification will be received.

3) Opening Karur Vysya Bank FD Offline

For opening a Karur Vysya Bank FD account via offline mode, one has to visit the nearest Karur Vysya Bank branch. Fill out the Karur Vysya Bank FD application form and present all the necessary documents with the deposit amount. On successful processing of the application, an FD receipt will be provided by the Karur Vysya bank.

Eligibility to Open Karur Vysya Bank FD Account

Individuals or entities satisfying the following criteria can opt for a fixed deposit in Karur Vysya Bank –

  • All resident individuals
  • HUFs
  • Trusts
  • Partnership firms
  • Companies

Documents Required to Open Karur Vysya Bank FD

The following documents have to be furnished for opening a Karur Vysya Bank FD –

  • Passport size photographs
  • Karur Vysya Bank Fixed Deposit application form
  • Address proof (Aadhar Card, Passport, Utility bills, Bank statement with Cheque)
  • Identity proof (Passport, Driving License, PAN Card, Government ID Card, Senior Citizen ID Card, Voter ID)

FAQs

How does one close an FD in KVB?

Visit a local branch office, preferably the one where the FD account is, and request that the FD be closed.

What is the highest KVB FD interest rate that consumers may get?

KVB - Tax Shield is now available at a rate of 6.00 percent. Please keep in mind that this pricing is subject to change at any moment without notice.

Are there any special rates for Karur Vysya Bank's elderly citizens FD?

Yes, elderly persons receive a greater interest rate on their savings as compared to FD rates. The typical FD rate ranges from 3.25 percent to 5.75 percent. In comparison, Karur Vysya Bank senior citizens’ FDs vary from 3.50 percent to 6.00 percent.

Does the change in KVB FD interest rates affect the bank's existing FD customers?

No. Changes in interest rates have no effect on the bank's existing investors unless the FD runs on a variable interest rate. Rates are only updated for new customers or those who choose to renew.

Can an additional sum be deposited in a KVB tax-saving deposit?

No. Because it is a fixed deposit, the deposit can only be made once. In the event of KVB recurring deposits, an additional sum might be placed.

Calculate Karur Vysya Bank FD Interest
Investment Amount
₹25,000.00
Time Period
9 Months
1 Year
2 Years
3 Years
Maturity Amount
Karur Vysya Bank
@5.25% p.a
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online upto 0%
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