Karnataka Vikas Grameena Bank launches new deposit scheme
The Hindu
MANGALURU
Chairman of Karnataka Vikas Grameena Bank P. Gopi Krishna launched a new deposit scheme of the bank, Vikas Siri Sampat-1111, on Friday.
Speaking on the occasion, he said that the scheme is of a tenor of 1,111 days with interest rate of 5.70% for general public and 6.20 % for senior citizens. It also offers the highest rate of annualised return of 6.03% for general public and 6.60% for senior citizens. Prospective customers of the scheme will earn higher interest and it is the highest rate offered among the nationalised banks.
Under the scheme, a minimum of ₹10,000 and a maximum of ₹2 crore can be deposited, he said.
The chairman said that the bank has a network of 629 branches with total business of ₹30,750 crore comprising ₹17,647 crore deposits and ₹13,103 crore advances. The particular scheme is applicable to all segments of depositors, including senior citizens and institutions. It will be open for a limited period only, a release from the bank quoted him as saying.
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