Deposit interest rates raised

Mangaluru: Karnataka Bank has increased interest rates on its domestic and NRE rupee term deposits of 1 to 2 year term, by 15 basis points, to 5.25% pa from 5.1%pa, for deposits up to Rs 10 crore, effective from May 21.
Mahabaleshwara M S, MD and CEO of the bank, said this upward revision in the deposit interest rate is in line with the market trend, and is expected to encourage the public to invest in the bank’s various term deposit schemes. tnn