KVB Green Deposits Scheme|Karur Vyasa Bank Fixed Deposit Rates-– Interest Rate, Calculator & Benefits

Fixed Deposit Details

Bank Name

Karur Vyasa Bank

Eligibility

Individuals Individuals jointly with other Individuals Minors. HUF. Sole Proprietary concerns. Trusts, Associations, Clubs & Societies. Partnership Firms. Joint stock companies. Any other entity not prohibited by RBI.

Interest Rate

6.25 to 6.65% per annum.

Tenure

2345 Days

Fixed Deposit Type

Green Deposit

KVB Green Deposits Scheme

Tax Benefits

None

Credit Ratings

[ICRA]A+

Interest Payment Frequency

Monthly, quarterly, half-yearly, yearly. 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

Both

Features

• Deposits shall be eligible for a Demand Loan /overdraft facility.
• When you invest in Green Deposit, your funds are earmarked for green financing, which includes renewable energy projects, sustainable infrastructure development, eco-friendly businesses, and more.
• Loan facility is available.
• Minimum deposit amount of Rs.1,00,000

Minimum Investment Amount

1,00,000

Features & Benefits

Pros

• Additional concession for senior citizens.
• Your investment directly supports projects that promote environmental sustainability.

Cons

• Low interest rates.
• Available for specific tenure duration.
• High minimum deposit requirements.

Pros & Cons

How to Open?

• Visit your nearest Karur Vysya Bank branch: This is the traditional method and allows for personalized assistance from a bank representative. Here's what to expect: Carry your KYC documents: These typically include proof of identity (PAN Card, Aadhaar Card, etc.), address proof (utility bills, rental agreement), and possibly a passport-sized photograph. Fill out the application form: The bank representative will guide you through the application process. Deposit the initial amount: You'll need to deposit at least the minimum amount required to open the FD (check with the bank for current minimums). Choose your interest payout option: KVB offers both cumulative and non-cumulative interest payout options. Nominate a beneficiary: This ensures someone you designate receives the funds in case of your passing.
• Online account holders can potentially open through Netbanking (limitations apply): While KVB's website doesn't explicitly mention opening Tax Saving Deposits online, it does allow opening Fixed Deposits through Netbanking for existing account holders, with some limitations.

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