Canara Bank has raised interest rates on fixed deposits across various maturities by up to 25 basis points. According to Canara Bank's website, the revised rates will go into effect from March 1, 2022.
Canara Bank will now provide a 2.90 percent interest rate on term deposits with maturities ranging from 7 to 45 days, according to the most recent revision. The bank will provide 3.9, 3.95, and 4.40 percent interest rates on FDs with maturities of 46-90 days, 91 days to 179 days, and 180 days to less than a year.
The interest rate on fixed deposits for one year has been raised to 5.15% from 5%, while the rate for one to two years has been raised to 5.155% from 5%.
Fixed deposits between 2-3 years would invite an interest rate of 5.20 per cent and 3-5 years 5.45 per cent from 5.25 per cent earlier.
The 5-10 year fixed deposit slab has been raised by a maximum of 25 basis points to 5.5 percent.
Canara Bank's most current FD interest rates (under Rs.2 crore) for the general public, effective March 1, 2022:
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7 days to 45 days* 2.90
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46 days to 90 days 3.90
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91 days to 179 days 3.95
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180 days to less than 1 Year 4.40
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1 year only -5.10%
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Above 1 year to less than 2 years - 5.15%
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2 years & above to less than 3 years - 5.20 %
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3 years & above to less than 5 years-5.45%
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5 years & above to 10 Years- 5.50%
Canara Bank's most recent FD interest rates (under Rs.2 crore) for senior citizens:
After the most recent revision, senior citizens will be eligible for interest rates ranging from 2.90 percent to 6 percent on FDs maturing in 7 days to 10 years.
In the month of February, SBI, HDFC Bank, Bank of Baroda (BoB), Central Bank of India and UCO Bank announced a hike in their fixed deposit rates.
