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Karnataka
Bank hikes rates
Our
Banking Bureau
16 November 2004
 Mangalore:
Karnataka
Bank Ltd has increased Karnataka Bank Ltd on domestic
term deposits of maturities of two years and above to
6.25 per cent.
Previously, interest rates were 6 per cent for maturities
of two years to less than three years, and 5.75 per cent
for three years to less than five years.
A
bank release said the rate hike is applicable from November
15, to fresh deposits and renewals of maturing deposits.
However,
interest rates for domestic term deposits with maturities
ranging from seven days to less than two years remain
unchanged.
 Senior
citizens will get 1 per cent more on their fixed deposit
and Abhyudaya Cash Certificate deposit of one year and
above maturity periods, the release added.
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