Karnataka Bank revises rates

Karnataka Bank Limited has increased interest rates on FCNR (B) deposits for various maturities with effect from November 2, 2005. The revised rates per annum for less than two years are GBP: 4.41 per cent (4.30 previously), USD: 4.49 (4.24), EURO: 2.35 (2.11), C$: 3.42 (3.16), and A$: 5.44 (5.43).

For two years and above but less than three years it is 4.41 (4.33), 4.60 (4.34), 2.56 (2.30), 3.56 (3.27), and 5.52 (5.46). The interest rates for three years and above but less than four years are 4.44 (4.51), 4.65 (4.36), 2.70 (2.42), 3.66 (3.37) and 5.53 (5.47).

For four years and above but less than five years the rates are 4.46 (4.53), 4.69 (4.39), 2.80 (2.52), 3.74 (3.46), and 5.59 (5.52) per cent. For five years only the interest rates are 4.47 (4.55), 4.73 (4.42), 2.90 (2.60), 3.85 (3.56), and 5.61 (5.53) per cent.

Meanwhile, the Bank which is tech savvy launched Internet banking on October 28, 2005. Bank's Moneyplant international debit card provides its card holders access to over 5,000 ATMs of 16 bank's across the country.