Regional Rural bank – Karnataka Vikas Grameen Bank rolled a new term deposit product. The new product named – ‘ Vikas Tax Saver’. The bank has launched the product in Dharwad. Under this product income-tax payers can deposit Rs 1.5 lakh in this term deposit and can get income-tax benefit on it.
This product will offer an interest rate of 8.6% to general public and senior citizens will be offered rate of 9.2%. At the launch of the new product SR Ganga and Rama Naik, General Managers of the bank, and Sheela Bhandarkar of Nabard in Dharwad, were present.