Term Deposits

The Karur Vysya Bank Ltd. offers various deposit schemes designed to make your money work for you. Our deposit plans give you the ideal combination of high returns at competitive interest rates and financial security.

Now we are offering Deposits through Netbanking. You can open a Term Deposit Account by transferring funds from their existing operative account at any time and generate a print out of the confirmation slip online.

  • Ordinary deposit accounts viz. FD / TTT accounts can only be opened through this channel.

  • Customers can view the details of the deposit account any time till the maturity of the deposits through the Netbanking.

Terms and Conditions:

  • The Deposit will be opened in the same name(s) of the account holder(s) as in the source account from which it is funded.

  • The interest and maturity proceeds on the Term Deposit which will be credited on maturity date by default to the account.

  • Interest payable at Maturity is Fixed Deposit type. Interest payable at Monthly / Quarterly / Half-Yearly / Yearly is Reinvestment type.

  • No Deposit receipt will be issued for the deposits opened through Netbanking.

  • The deposit is subject to TDS wherever applicable. Bank will deduct the Income Tax as per the law applicable and in case no tax is to be deducted. Form 15H/G has to be submitted by the depositor to the branch after opening the Online Deposit and every Financial Year on or before 7th April.

  • As per section 206AA introduced by Finance (No. 2) Act, 2009 effective April 01, 2010, every person who receives income on which TDS is deductible shall furnish his PAN, failing which TDS shall be deducted at the rate of 20% for Domestic deposits.

  • To register your PAN card details with us, kindly visit your home branch with PAN card (Original and Photo Copy). PAN is mandatory if the deposit amount is more than Rs. 50,000/-.

  • In the absence of PAN, Form 15G/15H and other exemption certificates will be invalid even if submitted and penal TDS will be applicable.

  • Form 15G and Form 15H to be submitted by the customer every Financial Year on or before 7th of April. Click to download Form no.15G / Form no.15H and filled-in form to be forwarded to your home branch.

  • Nomination is available only for the individual depositor. Click here to download the Nomination form and filled-in form to be forwarded to your home branch.

  • To pre-close a Deposit, you will need to contact the branch where the deposit was opened.

  • To avail deposit loan against term deposits opened through Netbanking, kindly contact your home branch.

  • The term deposit under Senior citizen category is currently available through branch only.

  • The term deposit under tax savings scheme is currently available through branch only.

  • Click here to know current Interest rate.

  • The rate of interest is subject to change from time to time, as per RBI norms and Bank’s policy.

  • Interest Rest on Quarterly basis.

  • Interest on Term Deposits will be paid on actual / actual basis. i.e, for the actual number of days the Deposit runs. Click here to view a sample calculation.

  • Monthly interest will be calculated at a discounted value only. Click here to view a sample calculation.

  • Payment of interest amount, payment of principal amount and Tax deduction amount would be rounding off to the nearest rupee i.e., rounding of interest less than Rs. 0.50 paisa would be ignored and more than Rs. 0.50 paisa would be rounded off to the nearest rupee.

  • The minimum Amount of online Deposit is Rs. 5,000.

  • The minimum tenor for Online Deposit is 7 Days and maximum tenor for Online Deposit is 120 Months.

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