Canara Bank has revised interest rates on deposits which are less than ₹2 crore with effect from 1st October. The bank has slashed as well as hiked interest rates on select deposits. After the latest revision, for term deposits with maturity period 7-45 days, Canara Bank will offer 3% interest rate. For FDs with maturity period 46-90 days, 91 days 179 days and 180 days to less than 1 Year, the bank will give 4, 4.05 and 4.50% interest rates respectively. For FDs maturing in one year to less than three years, Canara Bank has slashed interest rate by 10 basis points (bps). For term deposits maturing in 1 year, the bank will give 5.30 %and for deposits maturing in above one year to less than three years, the bank will offer an interest rate of 5.25%. For FDs with three to ten years tenure, the state-owned bank will now give slightly higher interest rate. The bank has hiked the interest rate on these deposits by 5 bps.
June 12, 2021