FD Interest Rates: Canara Bank has revised interest rates on deposits below Rs 2 crore. The bank’s new FD interest rates will be applicable from 8 February 2021.
There is big news for Canara Bank customers of the public sector. Canara Bank has revised interest rates on deposits below Rs 2 crore. Where Canara Bank has increased interest rates on fixed 2-year to 10-year deposits. At the same time, the bank has cut interest on deposits maturing in 1 year. The new FD interest rates of Canara Bank will be applicable from 8 February 2021. Earlier, the bank had revised the interest rates on FD on November 16, 2020.
After this amendment, Canara Bank will offer 2.95% interest rate for term deposits with maturity period of 7-45 days. The interest rate for FDs of maturity period 46-90 days, 91 days to 179 days and 1 year to 180 days will be 3.9 percent, 4 percent and 4.45 percent respectively.
Such a reduction in the interest rate on FD maturing in 1 year
The bank has reduced the interest rate by 5 basis points (BPS) for FDs maturing in a year. Now the interest rate on this FD will be 5.20 percent. For term deposits of less than 2 years and more than one year, the bank will offer interest rate of 5.20%. For FDs ranging from 2 years to 3 years, the bank will pay 5.40 percent interest. And for a period of 3 years to 10 years, the government bank will now give 5.50 percent interest.
Canara Bank FD’s latest interest rates (less than Rs 2 crore)
7 days to 45 days – 2.95%
46 days to 90 days – 3.90%
91 days to 179 days – 4%
180 days and less than 1 year – 4.45%
1 year only -5.20%
More than 1 year and less than 2 years – 5.20%
2 years or more and less than 3 years – 5.40%
3 years or more and less than 5 years -5.50%
5 years or more and 10 years – 5.50%
Senior citizens more interest
After this amendment, the interest rate for FDs maturing from 7 days to 10 years for senior citizens will be from 2.9 percent to 6 percent. Canara Bank pays 50 basis points more interest to senior citizens on deposits maturing from 180 days to 10 years than normal customers.
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at informalnewz@gmail.com
