Resident Domestic Deposits

Interest Rates

Rates of Interest on domestic deposits w.e.f. 01.04.2013

Domestic Term Deposits (Card Rates)

Time Bucket

Less than Rs.1 Crore
(w.e.f 01.04.2013)

 7 Days to 14 days 

6.00%

15 Days to 30 days 

6.00%

31 Days to 45 days 

7.70%

46 Days to 90 days 

7.70%

91 Days to 180 Days
(6 months) 

7.70%

181 Days to 270 days 

7.70%

271 Days to less than 1 year 

8.00%

1 year to 2 years 

9.50%

Above 2 years to 3 years 

9.25%

Above 3 years

9.00%

KVB - Tax Shield

8.75%
Senior Citizens Deposits (Card Rates):

Time Bucket

Interest Rate
(w.e.f 01.04.2013)

1 year to 2 years

10.00%

Above 2 years  to 3 years 

9.75%

Above 3 years to 5 years 

9.50%

KVB - Tax Shield Deposits 

9.00%

Kindly contact the nearest branch for deposits above Rs.1 crore.

Maximum Ceiling limit for acceptance of Senior Citizens deposits is Rs.10.00 crore.

 

Penal Interest on pre closure of deposits

 

  • Up to Rs.1 crore of Deposit – No Pre closure Penalty
  • Above Rs.1 crore of deposit – Pre closure Penalty norms applicable

Interest will be calculated at the rate applicable for the period the deposit has actually remained with the bank. The rates are subject to change without notice.

 

Special Deposit Scheme:

KVB Flexi Term Deposit

1. Nature of Deposit

Short term deposit

2. Tenure of deposit

300 days (Both Fixed & Re-investment options)

3. Rate of Interest

8.25% p.a.

4. Premature Withdrawal

No penalty for premature withdrawal anytime after 15 days.
The following is the position with respect to premature withdrawal:

Preclosure period

ROI payable

1 to 6 days

No interest

7 to 14 days

Applicable card rate less penal interest of 1%

15 to 300 days

Applicable card rate without any penalty

5. Minimum Amount

Rs. 1 crore