Canara Bank has launched a special FD scheme for its customers. Under this scheme, the customer will get more interest. The tenure of this FD is 666 days, on which general citizens will get 7% interest and senior citizens will get 7.50% interest.
Interest rates on fixed deposits under ₹2 crore have been adjusted by Canara Bank, one of the top public sector lenders. According to the bank’s official website, the new rates are in effect as of October 31, 2022. Following the revision, the bank is currently offering interest rates on deposits maturing in 7 days to 10 years that range from 3.25% to 6.50% for the general public and 3.25% to 7.00% for senior citizens. The bank is now giving a maximum interest rate of 7.00% to the general public and 7.50% to senior citizens on deposits maturing in 666 days.
Canara Bank FD Rates
On deposits maturing in 7 days to 45 days the bank is now offering an interest rate of 3.25% and for those maturing in 46 days to 179 days Canara Bank is now offering an interest rate of 4.50%. Deposits maturing in 180 days to less than 1 Year will now fetch an interest rate of PARAGRAPH
Now get maximum returns on your investment!
Presenting Canara Special Deposit Scheme that offers 7.50% interest by investing for 666 days. #CanaraBank #CanaraBankSpecialDepositScheme #666Days pic.twitter.com/8gmIBCP2On
— Canara Bank (@canarabank) October 11, 2022
231 words5.50% and those maturing in 1 year to less than 2 years will now fetch an interest rate of 6.25%. Canara Bank will now offer an interest rate of 7.00% on deposits maturing in 666 Days and 6.25% on those maturing in 2 years & above to less than 3 years. On deposits maturing in 3 years to 10 years, Canara Bank will now offer an interest rate of 6.50%.
For the Canara Tax Saver Deposits of up to ₹1.5 lakh, the bank is offering 6.50% annually to non-senior citizens and 7% to senior citizens. For deposits (other than NRO/NRE and CGA Deposits) less than Rs. 2 Cr. and having a tenor of 180 Days and above, an additional rate of 0.50% is provided for senior citizens. According to the Canara Bank, the above interest rate also applies to recurring deposits.
Canara Bank has mentioned on its website that “For premature closure/part withdrawal/premature extension of Domestic/NRO term deposits, the Bank imposes a penalty of 1.00%. Such prematurely closed/part withdrawn/prematurely extended deposits will earn interest at 1.00% below the rate as applicable for the relevant amount slab as ruling on the date of deposit and as applicable for the period run OR 1.00% below the rate at which the deposit has been accepted, whichever is lower.” However, no interest will be payable on term deposits prematurely closed/prematurely extended before completion of 7th day.”
