Karnataka Bank raises deposit interest rates

Karnataka Bank has increased the interest rate on deposits of less than Rs 2 crore to 5.50 percent per annum. The new rate will be effective from next month. Apart from this, Sundaram Home Finance has also announced an increase in interest rates on deposits. According to the news of PTI, Karnataka Bank said on Wednesday that the interest rates on deposits have been increased by 0.10 percent on deposits of one to two years and deposits of more than two to five years.

Karnataka Bank has increased interest rates as interest rates are supposed to go up, due to the pressure of inflation.

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Yes it is true. Let’s wait for other bank