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Canara Bank Reduces Interest On Term Deposits: Check New Rates

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Public sector lender Canara Bank has revised its FD rates for deposits less than Rs. 2 crore with effect from August 8, 2021. The revision has been made for all deposit tenures between a maturity period of 46 days to 90 days. In case of the deposits that mature between 1 year and less than 2 years, the rate has been cut by 10 basis point. 1-basis point is one-hundredth of a percentage point. Now, these FDs maturing between 1 year and less than 2 years will offer 5.1% per annum interest rate.

 
Canara Bank Reduces Interest On Term Deposits: Check New Rates

Here are the new FD rates of Canara Bank term deposits that will be applicable from August 8, 2021:

7 days to 45 days - 2.90%
46 days to 90 days - 3.90%
91 days to 179 days - 3.95%
180 days to less than 1 Year- 4.40%
1 year only -5.10%
Above 1 year to less than 2 years - 5.10%
2 years & above to less than 3 years - 5.10 %
3 years & above to less than 5 years-5.25%
5 years & above to 10 Years- 5.25%
After the latest revision, senior citizens will get an interest rate ranging from 2.90% to 5.75% for FDs maturing in 7 days to 10 years. Canara Bank gives 50 basis points more than the general customers to senior citizens on deposits maturing in 180 days to 10 years.

GoodReturns.in

Read more about: fixed deposit canara bank
Story first published: Friday, August 27, 2021, 13:13 [IST]
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