New Product

Karnataka Bank Ltd has introduced a new term deposit scheme - KBL-400 - with a higher interest rate offer, with effect from May 21. The new deposit scheme for 400 days carries 10 per cent interest. Senior citizens will get 10.50 per cent for their deposit of 400 days. The new scheme will remain valid for a limited period. The bank has also raised interest rate for deposits under `KBL Tax Planner' (meant for income-tax exemption) to 9.50 per cent (8.25 per cent) to general public and 10.25 per cent (9 per cent) to senior citizens