|
Karur Vysya Bank FD Interest Rates (p.a.) Highlights |
|
| Highest slab rate | 7.50% (for 444 days) |
| For 1 year | 7.00% |
| For 2 years | 7.00% |
| For 3 years | 7.00% |
| For 4 years | 7.00% |
| For 5 years | 7.00% |
| Tax-Saving FD | 7.00% |
The interest rates are updated as of 1 May 2025
KVB FD Rates
Fixed Deposit rates on Domestic Fixed Deposits of less than Rs 2 crore w.e.f. 19 April 2025
| Tenure | Interest Rates (% p.a.) |
| 7 days to 14 days | 4.00 |
| 15 days to 30 days | 4.00 |
| 31 days to 45 days | 5.25 |
| 46 days to 90 days | 5.25 |
| 91 days to 120 days | 6.00 |
| 121 days to 180 days | 6.00 |
| 181 days to 270 days | 6.25 |
| 271 days to less than 332 days | 6.50 |
| 333 days | 7.40 |
| 334 days to less than 1 year | 6.50 |
| 1 year to 443 days | 7.00 |
| 444 days | 7.50 |
| 445 days to 2 years | 7.00 |
| Above 2 years to 3 years | 7.00 |
| Above 3 years up to 5 years | 7.00 |
| Above 5 years to 6 years | 6.25 |
| Above 6 years | 6.25 |
| For KVB-Tax Shield Deposits | 7.00 |
| Rainbow Deposits (RBFD) | 5.25 |
Interest rates on Domestic Fixed Deposits for Senior Citizens w.e.f. 19 April 2025
| Tenure | Interest Rates (% p.a.) |
| 333 days | 7.80 |
| 1 year to 443 days | 7.40 |
| 444 days | 8.00 |
| 445 days to 2 years | 7.40 |
| Above 2 years to 3 years | 7.40 |
| Above 3 years to 5 years | 7.40 |
| Above 5 years to 10 years | 6.65 |
| For KVB-Tax Shield Deposits | 7.40 |
Notes: 1. Senior citizen rates are not applicable on FDs opened by NRIs
2. The maximum amount for senior citizen FD has been capped at Rs 3 crore
KVB Tax Saver Deposit
| Tenure | Interest Rates (% p.a.) | |
| For General Public | For Senior Citizens | |
| KVB Tax Shield | 7.00 | 7.40 |
Interest Rates on NRE Deposits w.e.f. 19 April 2025
| Tenure | Interest rates (% p.a.) |
| 1 year to 443 days | 7.00 |
| 444 days | 7.50 |
| 445 days to 2 years | 7.00 |
| Above 2 years to 3 years | 7.00 |
| Above 3 years to 5 years | 7.00 |
| Above 5 years to 6 years | 6.25 |
| Above 6 years | 6.25 |
| KVB Green Deposit Scheme (2345 days) | 6.25 |
Interest Rates of FCNR Deposits w.e.f. 1 April 2025 to 30 April 2025
| Period | Interest Rates (% p.a.) | |||||
| USD | GBP | EUR | JPY | CAD | AUD | |
| 1 year to less than 2 years | 5.64 | 4.71 | 2.92 | 0.73 | 2.76 | 4.35 |
| 2 years to less than 3 years | 4.38 | 4.46 | 1.92 | 0.73 | 2.26 | 4.10 |
| 3 years to less than 4 years | 3.60 | 3.46 | 1.42 | 0.73 | 2.26 | 4.10 |
| 4 years to less than 5 years | 3.35 | 3.46 | 1.42 | 0.58 | 2.26 | 3.85 |
| 5 years only | 3.35 | 3.46 | 1.42 | 0.58 | 2.26 | 3.85 |
Types of Karur Vysya Bank Fixed Deposit Schemes
Regular Fixed Deposits
- Minimum amount: Rs 100
- Tenure: 7 days – 10 years
- Nomination facility is available
- Loan is available on deposit
- Half/Quarterly/Monthly payout options are available. In the case of the monthly interest pay-out option, the interest will be paid monthly at a discounted rate
- Premature withdrawal is allowed
KVB Tax Saving Deposits
- Deposits under this scheme are eligible for a tax deduction of up to Rs 1.5 lakh under Section 80C in each financial year
- Lock-in period: 5 years
- Loan facility is not available
- Monthly/quarterly payout options are available
KVB 333 Special Deposit Scheme
- Deposit amount: Minimum – Rs 1,000; Maximum – less than Rs 2 crore
- Tenure: 333 days
- Both cumulative and non-cumulative options are available
- Under non-cumulative scheme, depositors can either opt for a monthly, half-yearly, or quarterly interest pay-out option based on a simple interest rate
- Nomination and loan against deposit facilities are available
- Depositors can also prematurely withdraw their deposits under this scheme
KVB’s Reinvestment Plan – Tirumagal Tirumana Thittam (TTT) (Reinvestment of Interest Component)
- This is a long-term investment plan that enables depositors to meet their long-term financial requirements like daughter’s marriage and children’s education
- This scheme allows reinvestment of the interest component to the deposit amount
- The principal amount and interest earned are payable on maturity
- Minimum deposit amount: Rs 100
- Tenure: 6 months – 10 years
- Nomination facility is available
- Loan is available on the deposit
- Premature withdrawal is allowed
- Deposits will not be accepted or opened for a period based on a combination of months and days
- FD will be accepted or opened for less than 6 months and in multiples of 3 months, subject to a maximum of 20 years for a minor and 10 years for other depositors
KVB 444 Special Deposit Scheme
- Deposit amount: Minimum – Rs 1,000; Maximum – less than Rs 2 crore
- Tenure: 444 days
- This scheme allows reinvestment of the interest component to the deposit amount (cumulative option)
- Depositors can also opt for different monthly interest pay-out options: monthly, half-yearly quarterly interest pay-out options on a simple interest rate
- Nomination and auto-renewal facilities are available
- Depositor can also avail loan against their fixed deposit under this scheme
Double Delight
- The scheme provides free hospital insurance coverage of Rs.750 per day for a maximum of 7 days in a year to primary account holders within 24 hrs of admission
- Depositors can invest in odd sums and get the round sums of maturity
- Maturity amount will be 1 lakh, 2 lakhs, 3 lakhs, 4 lakhs and 5 lakhs
- Tenure: 1 year – 10 years in multiples of 10 months (Maximum 5 years tenure for senior citizens)
- Senior citizens are offered preferential interest rates
- Loan is available on deposit
Senior Citizen Deposits
- The preferential interest rate is offered to resident senior citizen FD depositors aged 60 years and above
- Tenure: 1 year to 5 years
- Both cumulative and non-cumulative options are available
- Nomination is compulsory
NRE Deposits
- Tenure: 1 year – 10 years
- Investment is fully repatriable
- No interest will be paid if deposit amount is withdrawn before 1 year
NRO Deposits
- Maximum tenure: 10 years
- Depositors can avail loan for up to 90% of the deposit amount
- Deposits can be repatriated with a limit of USD 1 million in a financial year
FCNR Deposits
- This FD scheme can be opened in the following currencies: US Dollars (USD), British Pound Sterling (GBP), Euro (EUR), Japanese Yen (YEN), Australian Dollar (AUD), and Canadian Dollar (CAD)
- Tenure: 1 year – 5 years
- Both the principal amount and interest earned are repatriable
- Loans against deposits are available
- Forward contract option against deposit is available for NRIs who consider taking the FCNR maturity proceeds in INR
Non-Resident Ordinary Multiplier Savings Account
- This scheme allows depositors to transfer funds from NRO Savings to NRO Fixed Deposits and vice versa in an automated way to maximize the fund utilization in the account
- Minimum average balance: Rs 5,000
- Tenure:90 days
- Threshold Balance for Sweep Out: Rs. 1,00,000
- Sweep in/out in units of Rs 10,000
- Last In First Out (LIFO) method is used in sweep in method
- Sweep Out facility is available every Sunday
Premature Withdrawal of Fixed Deposits – Penalty Charges
- Interest will be paid after deducting the penal rate from the applicable interest rate. The applicable interest rate would be the interest rate applicable for the period of deposit for which the fixed deposit remained with the bank
- Up to Rs. 2 crores of deposit – Penalty of 1% from applicable interest rate
- Above Rs. 2 crores of deposit – Pre-closure Penalty norms applicable
- Pre-closure charges are applicable in the Double Delight scheme when deposits are pre-closed within 2 years from the date of opening FD
Loan Against Fixed Deposits
- Depositors can avail loan for up to 90% of their deposit amount
- Loans will be disbursed to the depositor’s account instantaneously
KVB FD Calculator
To ascertain the amount one shall get at maturity on investing in a KVB fixed deposit scheme, investors are suggested to make use of the KVB FD Calculator available at Paisabazaar.com. Since the KVB FD interest rates are not constant and may change without prior notice, investors must always check the benefit they may reap from FD. This service is available free of cost and can be used multiple times.
FAQs
Q. What is the highest KVB FD interest rate available to customers?
A. Depositors can earn the highest FD interest rates of up to 7.50% p.a. by opening FD in KVB Bank. The FD interest rate is available for 444 days tenure.
Q. How can one close his/her FD in KVB?
A. Visit the nearby branch office, preferably the one in which the FD account is, and request for closure of FD.
Q. Is the KVB FD calculator chargeable?
A. No. Customers can use this calculator to check the maturity amount based on prevailing Karur Vysya Bank FD rates without having to pay any charges towards it.
Q. Does the change in KVB FD interest rates affect existing FD customers of the bank?
A. No. Unless the FD operates on the floating interest rate, changes in rates do not affect the existing investors of the bank. Updated rates are only for new customers or for those who opt for renewals.
Q. Can one deposit an additional amount in a tax saving deposit by KVB?
A. No. Since it is a type of fixed deposit, the deposit can be made only once. The additional amount can be deposited in case of KVB recurring deposits.
Q. Is it necessary to provide PAN while applying for a KVB Fixed Deposit?
A. It is highly advisable to submit the PAN so as to avoid TDS at 20% against the usual 10%. Also, no TDS certificate is issued if the PAN card is not submitted.