FAQs on Deposits
1. What are fixed or time deposits?
Fixed or Time deposits are deposits accepted by the bank for a specified period of time.
2. What are the minimum and maximum period for which deposits are accepted by the bank?
KVB accepts deposits for a minimum period of 7 days and a maximum of ten years. Deposits in the name of minors can be placed for periods over ten years (conditions apply).
3. Is the interest paid on fixed deposits variable?
Changes made in interest rates from time to time do not alter the interest paid on the existing deposits. KVB at present does not offer floating rate deposits.
4. How is the interest paid on the deposits?
The depositor can collect interest on every quarter or its discounted value at monthly rests or avail quarterly compounding benefits and receive principal and interest on maturity. The manner of interest payment should be mentioned during the time of deposit. KVB has different products for different needs. Please contact the branch officials for further details.
5. Is the interest paid on deposits different for high-value deposits, i.e. over 15 Lakhs?
KVB quotes a higher interest rate for high-value deposits for certain maturities. Please visit our interest rate page for further details.