Product Details
Bank Name
Karur Vysya Bank
Eligibility
Can be opened by Individuals, HUF, Trust, Partnership firms, Companies, Associations etc.,
Interest Rate
4 - 7.25%
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
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.
Fees and Charges
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 and 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
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