KVB raises term deposit rates

KARUR: Karur Vysya Bank has raised the interest rates on term deposits with effect from August 11. The rate for deposits of 181 days and above but less than one year has been hiked by 50 basis points to 8.50 per cent, for one year and above but less than two years to 9.75 per cent from 9.50 per cent and for two years and above and inclusive of three years to 10 per cent (9.75 per cent). Senior citizens will receive 10.25 per cent (10 per cent) on deposits of one year and above but less than two years and 10.50 per cent (10.25 per cent) for two years and above and inclusive of three years, says a release. -Hindu