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Karnataka Bank raises deposit rates
MANGALORE:
Karnataka Bank has raised interest rates for domestic term deposits of 181 days to 364 days with effect from January 1. The rate hike is applicable for all fresh deposits and renewals of maturing deposits, according to a bank release. Deposits of below Rs. 15 lakh for the said period will fetch an interest of 7 per cent against 6.5 per cent. For deposits below Rs. 15 lakh for 365 days the rate is 8.25 per cent. The rate for deposits of Rs. 15 lakh but below Rs. 50 lakh for 365 days is 8.25 per cent. The rates for other maturities have also been raised. Senior citizens will get higher interest rates than the rest of the customers.
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