Product Details
Bank Name
Karur Vysya Bank
Eligibility
Can be opened by Individuals, HUF, Trust, Partnership firms, Companies, Associations etc.,
Interest Rate
4 - 7.50%
Tenure
7 days - 10 years
Fixed Deposit Type
Regular
Fixed Deposits
Tax Benefits
No
Credit Ratings
[ICRA]A+
Interest Payment Frequency
(Half-yearly / Quarterly / Monthly. Typically for fixed deposits having interest payment at maturity, compound interest is applicable and for fixed deposits having monthly interest payment, simple interest is applicable. Typically fixed deposits having a tenure of one year or less, simple interest is applicable. It is best to consult the bank officials before you book a fixed deposit.
Cummulative/Non-Cummulative
No information provided
Features
Can be opened by Individuals, HUF, Trust, Partnership firms, Companies, Associations etc., Interest is payable at regular intervals (Half / Quarterly / Monthly) as desired by the depositor. But monthly interest is permitted at a discounted rate. Nomination facility is available. Loan available on deposit. Premature closure is allowed, subject to the applicable norms.
Minimum Investment Amount
The minimum amount that can be invested is Rs. 100/- and there is no restriction on the maximum amount.
Features & Benefits
Pros
Interest is payable at regular intervals (Half / Quarterly / Monthly) as desired by the depositor. But monthly interest is permitted at a discounted rate.
Nomination facility is available.
Loan available on deposit.
Premature closure is allowed, subject to the applicable norms.
Cons
Limited Branch Network
Lower Rates for Early Withdrawal
Potentially Lower Credit Rating
Pros & Cons
Account Opening Procedure
How to Open?
Online: (For existing KVB account holders only)
Visit the Karur Vysya Bank website
Go to the "Personal" tab and navigate to "Fixed Deposits"
Click on "Apply Now" and fill out the online application form
You will need to choose your FD tenure and deposit amount
The bank will then contact you to complete the process
Application Procedure
Add paragraph text. Click “Edit Text” to update the font, size and more. To change and reuse text themes, go to Site Styles.
Add a Title
Add paragraph text. Click “Edit Text” to update the font, size and more. To change and reuse text themes, go to Site Styles.