Mangalore, Feb 28: Karnataka Vikas Grameen Bank (KVGB), one of the leading regional rural banks in the country, has announced a hike in interest rates for its flagship deposit scheme, "Vikas Ashadeep" (400-day deposit scheme). The interest rate has been increased from 7% to 7.30% for general public and 7.80 % for senior citizens.
In a press release, Shreekant M Bhandiwad, Chairman of KVGB, stated that the revision aligns with market trends and is aimed at encouraging the public to invest more in the bank’s deposit schemes. He emphasized that deposits in KVGB not only offer attractive returns but also contribute to rural development. The revised rates will be effective from Saturday, March 1, 2025.