Karnataka Bank offers 5% interest on SB deposit

Karnataka Bank Ltd has increased the interest rate on savings bank (SB) deposit from 4 per cent to 5 per cent with immediate effect.

Quoting Mr P. Jayarama Bhat, Managing Director of the bank, a bank release said here on Saturday that the enhancement of interest rate on SB deposits, coupled with crediting of interest on quarterly basis, will increase the yield on SB deposits of all the customers.