Product Details
Bank Name
Karur Vysya Bank
Eligibility
Can be opened in the name of Individuals
Interest Rate
Up to 8.00%
Tenure
1 year to 10 years
Fixed Deposit Type
Regular
Double Delight
Tax Benefits
No
Credit Ratings
[ICRA]A+
Interest Payment Frequency
Deposit repayable along with accrued interest after an agreed fixed period of time. 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
Cumulative
Features
Can be opened in the name of Individuals Free hospital Insurance coverage of Rs.750 per day maximum of 7 days in a year, throughout the period. * applicable for Primary account holder with 24 hrs admission. Preferential RoI for Senior Citizen Deposit repayable along with accrued interest after an agreed fixed period of time. Invest the amount in odd sums and get the round sums of maturity Maturity Amount will be 1 Lakh, 2 Lakhs, 3 Lakhs, 4 Lakhs and 5 Lakhs Loan available on deposit Waiver of Pre closure charges for the deposits opened for the tenor more than 2 years inclusive of deposits pre-closed after a period of 2 years.
Minimum Investment Amount
Invest the amount in odd sums and get the round sums of maturity
Maturity Amount will be 1 Lakh, 2 Lakhs, 3 Lakhs, 4 Lakhs and 5 Lakhs
Features & Benefits
Pros
Can be opened in the name of Individuals
Free hospital Insurance coverage of Rs.750 per day maximum of 7 days in a year, throughout the period.
Preferential RoI for Senior Citizen
Deposit repayable along with accrued interest after an agreed fixed period of time.
Invest the amount in odd sums and get the round sums of maturity
Maturity Amount will be 1 Lakh, 2 Lakhs, 3 Lakhs, 4 Lakhs and 5 Lakhs
Loan available on deposit
Waiver of Pre closure charges for the deposits opened for the tenor more than 2 years inclusive of deposits pre-closed after a period of 2 years.
Cons
Lower Interest Rates
Not for Senior Citizens with Longer Terms
Only for Individuals
Pros & Cons
Account Opening Procedure
How to Open?
Visit a Branch: You can apply for the KVB Double Delight FD by visiting the nearest branch of Karur Vysya Bank.
Speak to a bank representative, and they will guide you through the account opening process.
Online Application:Alternatively, you can apply online through the bank’s official website.
Visit the KVB website, navigate to the Double Delight FD section, and follow the instructions to open your account.
Application Procedure
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