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Fixed Deposit

The Karur Vysya Bank offers an attractive range of Fixed Deposit schemes for the customers at great rates of interest. There are a host of deposit schemes to suit the needs of every individual.
 

KVB Fd Rates 2018

FD Tenure

Interest Rates

Regular Citizens Senior Citizens
7 Days to 14 days  5.00% 5.00%
15 Days to 30 days  5.00% 5.00%
31 Days to 45 days  5.50% 5.50%
46 Days to 90 days  6.00% 6.00%
91 Days to 180 Days 6.90% 6.90%
181 Days to 270 days  6.75.% 6.75.%
271 Days to less than 1 year  6.75.% 6.75.%
1 year to less than 2 years  6.75.% 7.25%
2 years to less than 3 years  7.00% 7.50%
3 years and above 7.00% 7.50%
KVB – Tax Shield 7.00% 7.00%

Note: Above interest rates are offered on deposits below Rs 1 Crore w.e.f. 7th May, 2017. Rates are subject to change without prior information. Senior citizen rates are applicable for investments up to Rs 5 Crores.

Types of Karur Vysya Bank Fixed Deposit Schemes

  1. KVB Centenary Cash Certificate
  2. KVB ThirumangalThirumanaThittam
  3. KVB Fixed Deposit Scheme
  4. KVB Senior Citizen Scheme
  5. KVB Manimala
  6. KVB Moneymala Plus
  7. KVB Tax Shield
  8. KVB Rainbow Deposit

KVB Centenary Cash Certificate

A Karur Vysya Bank Fixed Deposit scheme launched for a limited period of time with the following features and benefits:
 

  • The deposit scheme has a loan portfolio and an Accidental Insurance coverage option
  • The principal and interest is payable on maturity
  • Compound interest is calculated quarterly on the cumulative balance and the interest is reinvested with the principal to earn future interests. The reinvested interest is subject to TDS
  • Nomination facility is available under the scheme
  • Loans can be availed on the deposits made with the facility of Secured Overdraft Account (SODA). SODA can be operated through a debit card
  • Loans up to 75% of the deposit can be availed with a fixed differential rate which is 1.50% over the applicable deposit interest rate
  •  Premature closure of the deposit is allowed free of cost
  • The deposit provides a Personal Accident Insurance coverage of up to Rs.1 lakh
  • The minimum and maximum amount of deposit is Rs.10, 000 and Rs.99, 99, 999
  • The deposit can be made for a period of 50 months and 100 months only

Eligibility-
 

  • The account can be opened by individuals, HUF, Trust, Partnership firms, companies, associations, etc.
  • Personal Accident cover is available for individuals aged 18-70 years

KVB ThirumangalThirumanaThittam

A long term deposit scheme to create wealth for future expenses with the following features and benefits:
 

  • The principal and interest is payable on maturity
  • Compound interest is calculated quarterly on the cumulative balance and the interest is reinvested with the principal to earn future interests. The reinvested interest is subject to TDS
  • Nomination facility is available under the scheme
  • Loans can be availed on the deposits made
  • Premature closure of the deposit is allowed
  • The account can be opened with a minimum investment of Rs.100 and there is no ceiling on the maximum amount that can be invested
  • The deposit can be made for a minimum period of 6 months and thereafter in multiples of 3 months for a maximum period of 10 years. Deposits will not be allowed for a combination of years and months

Eligibility-
 

  • The account can be opened by individuals, HUF, Trust, Partnership firms, companies, associations, etc.

KVB Fixed Deposit Scheme

A traditional deposit scheme with interest payable periodically. The benefits and features of the deposit scheme are as follows:
 

  • The depositor can choose to receive interest payments as and when desired like monthly, quarterly, half-yearly. Monthly interest payment will, however, be subject to discounting.
  • Nomination facility is available under the scheme
  • Loans can be availed on the deposits made
  • Premature closure of the deposit is allowed
  • Simple interest is earned on the deposits and TDS will be applicable on the earned interest
  • The account can be opened with a minimum investment of Rs.100 and there is no ceiling on the maximum amount that can be invested
  • The minimum period of deposit is 15 days and the maximum period for which the deposit can be made is 10 years

Eligibility-
 

  • The account can be opened by individuals, HUF, Trust, Partnership firms, companies, associations, etc.

KVB Senior Citizen Schemes

A deposit scheme for senior citizens with the following features and benefits:
 

  • The deposits are available in the options of cumulative and non-cumulative. Under the cumulative scheme the inetrest earned in reinvested with the principal amount for further inetrest and is payable on maturity while in the non-cumulative scheme, the inetrest is payable as and when it is earned.
  • Deposits attract a preferential rate of inetrest if the period of deposit is 1 year and above and up to 5 years up to a maximum deposit amount of Rs.5 crores
  • Loans can be availed on the deposits made
  • Premature closure of the deposit is allowed
  • Nomination is compulsory
  • The inetrest earned will be subject to TDS

Karur Vysya Bank Fixed Deposit Eligibility-
 

  • Resident individuals who have completed 60 years of age are eligible to open the account
  • Age proof is mandatory to be submitted at the time of opening the deposit account

KVB Manimala

A deposit account with monthly deposits like in a Recurring Deposit account. The features and benefits of the account are as follows:
 

  • The interest earned and deposited is not subject to TDS
  • Nomination facility is available under the scheme
  • Loans can be availed on the deposits made
  • Pre-mature closure of deposits is allowed
  • The minimum amount of investment is Rs.100 and thereafter in multiples of Rs.25 and there is no limit on the maximum amount of deposit
  • The minimum period of deposit is 6 months and thereafter in multiples of 3 months up to a maximum limit of 120 months
  • The instalment amount and the tenure once chosen cannot be altered
  • There will be a penalty for late payment of any instalment @ Rs.1.50 per Rs.100 for deposits of up to 5 years and Rs.2.00 per Rs.100 for deposits made for above 5 years. The penalty is levied monthly.

Eligibility-
 

  • The account can be opened by individuals, HUF, Trust, Partnership firms, companies, associations, etc

KVB Moneymala Plus

A recurring account with added features which are as follows:
 

  • The account facilitates the flexibility to remit excess funds into the deposit account up to 10 times the core amount subject to a maximum amount of Rs.2 lakhs
  • Ne late payment penalty charges are applicable
  • Inetrest is calculated on a daily product basis and is compounded quarterly
  • Pre-closure and loan facilities are available in the account
  • The minimum amount of investment is Rs.1000 and thereafter in multiples of Rs.1000 and there is no limit on the maximum amount of deposit. The flexible portion of remittances should also be in a multiple of Rs.1000
  • The period of deposit is 12, 24 and  36 months
  • Maturity period will be four months post the remittance of the last instalment and interest will be paid for the extended period
  • The base amount should be paid by a single installment and thereafter there is no limit on the number of remittances made as long as they are 10 times the core amount or Rs.2 lakhs whichever is lower
  • If 4 consecutive core instalments are unpaid, the bank will close the deposit account and credit the proceeds into the account designated by the accountholder
  • If in a year the amount remitted is less than Rs.12, 000 then also the auto-closure process will be triggered
  • Loan can be availed up to 75% of the total core and flexi portion at an inetrest rate which is 2% above the applicable deposit rate
  • In case of pre-mature closure, the rate applicable will be 1% lower than the actual rate for the period for which the deposit was held with the bank.

Eligibility-
 

  • The account can be opened by individuals, minors, Proprietorship concerns, HUF, Trust, Partnership firms, companies, associations, societies, clubs, etc.

KVB Tax Shield

A Karur Vysya Bank Fixed Deposit account designed to save tax under Section 80C of the Income Tax Act. The features of the account are as follows:
 

  • The deposits are available in the options of cumulative and non-cumulative. Under the cumulative scheme the interest earned in reinvested with the principal amount for further interest and is payable on maturity while in the non-cumulative scheme, the interest is payable as and when it is earned.
  • The deposit can be made for a fixed term of 5 years
  • Nomination facility is available under the scheme
  • The account can be opened with a minimum investment of Rs.100 and in multiples thereof. There is a ceiling on the maximum amount that can be invested which is Rs.1.5 lakhs
  • Loans and premature closure is not allowed
  • TDS will be deducted at applicable rates

Eligibility-
 

  • The account can be opened by individuals and Karta of a HUF

KVB Rainbow Deposit

A deposit account combining the liquidity of savings account and the returns of fixed deposit account. The features and benefits of the deposit are as follows:
 

  • The deposit can be opened by the individual either singly or jointly with either or survivor options
  • After maintaining a balance of Rs.15, 000 in the savings account, the excess funds are transferred to the deposit account in multiples of Rs.5000 for a period of 91 days at the end of day every Sunday
  • If the savings account is in deficit of honoring cheques, the money from the deposit account is swept back in the Savings account in multiples of Rs.5000 in the Last In First Out (LIFO) basis
  • Free Accidental Death Insurance coverage of rs.1 lakh
  • Nomination facility is available
  • The account will be eligible for simple rate of interest
  • Senior citizens will not be given preferential rate treatment.