Bank adds new slab to deposits

Mangaluru: Karnataka Bank has introduced a new slab to its Domestic and NRE Rupee term deposits. The new slab is for deposits for a tenure of ‘1 year only’ and carries an interest rate of 6.2% pa. The above rates are effective from September 1, and applicable for deposits up to Rs 20 crore. The addition of this new slab with an attractive interest rate is an incentive for the existing as well as new customers to invest in the term deposit products of the bank. tnn