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Canara Bank Revises Interest Rates On Fixed Deposit: Check Current Rates Here

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Canara Bank, a public sector lender, has revised interest rates on fixed deposits of less than Rs 2 crore with effect from 09.08.2021. Canara Bank will now provide a 2.90 percent interest rate on term deposits with a maturity period of 7-45 days following the latest adjustment. The bank will provide 3.9, 3.95, and 4.40 percent interest rates on FDs with maturity periods of 46-90 days, 91 days to 179 days, and 180 days to less than 1 year, respectively. The bank is currently offering a 5.10 percent interest rate on deposits maturing in one year to less than three years. Canara Bank is giving a 5.25 percent interest rate on deposits maturing in 3 years or less than 5 years, and 5 years or up to 10 years. Canara Bank offers Canara Unique Retail Term Deposit scheme of "1111 Days" with an additional rate of interest of 0.10% over and above the rate for the tenor of the deposit, on these deposits the bank is now promising an interest rate of 5.35% to the general public and 5.85% to senior citizens.

 

Canara Bank FD Rates For The General Public

Canara Bank FD Rates For The General Public

For a deposit amount of less than Rs 2 Cr, Canara Bank is now promising the following interest rates to the general public.

Term Deposits (All Maturities)Regular FD Rates (% p.a.)Annualised Interest yield (% p.a.)
7 days to 45 days 2.90 2.93%
46 days to 90 days 3.90 3.96%
91 days to 179 days 3.95 4.01%
180 days to less than 1 Year 4.40 4.47%
1 year only 5.10 5.20%
Above 1 year to less than 2 years 5.10 5.20%
2 years & above to less than 3 years 5.10 5.20%
3 years & above to less than 5 years 5.25 5.35%
Canara Unique "1111 Days" 5.35 5.46%
5 years & above to 10 Years 5.25 5.35%
Source: Bank Website

Canara Bank FD Rates For Senior Citizens
 

Canara Bank FD Rates For Senior Citizens

Senior citizens will continue to get an additional interest rate of 0.50% compared to the general public. After the most recent revision, Canara Bank is now offering the following interest rates to senior citizens.

Term Deposits (All Maturities)Regular FD Rates (% p.a.)Annualised Interest yield (% p.a.)
7 days to 45 days 2.90 2.93%
46 days to 90 days 3.90 3.96%
91 days to 179 days 3.95 4.01%
180 days to less than 1 Year 4.90 4.99%
1 year only 5.60 5.72%
Above 1 year to less than 2 years 5.60 5.72%
2 years & above to less than 3 years 5.60 5.72%
3 years & above to less than 5 years 5.75 5.88%
Canara Unique "1111 Days" 5.85 5.98%
5 years & above to 10 Years 5.75 5.88%
Source: Bank Website

Canara Bank Overdue Deposits

Canara Bank Overdue Deposits

Interest rates on overdue deposits have also been adjusted by Canara Bank. According to the bank "If a Domestic Term Deposit matures and proceeds are unpaid, the amount left unclaimed with the Bank shall attract rate of interest as applicable to saving account or the contracted rate of interest on the matured Term Deposit, whichever is lower."

Term Deposits (All Maturities)Callable Non-Callable ++
Rate of Interest (% p.a.) Annualised Interest yield (% p.a.) Rate of Interest (% p.a.) Annualised Interest yield (% p.a.)
7 days to 45 days 2.9 2.93% - NA - @
46 days to 90 days 3.1 3.14% 3.1 3.14%
91 days to 179 days 3.25 3.29% 3.25 3.29%
180 days to less than 1 Year 3.25 3.29% 3.25 3.29%
1 year only 3.65 3.70% 3.65 3.70%
Above 1 year to less than 2 years 3.65 3.70% 3.65 3.70%
2 years & above to less than 3 years 3.65 3.70% 3.65 3.70%
3 years & above to less than 5 years 3.4 3.44 3.4 3.44%
5 years & above to 10 Years 3.4 3.44 No Quotes @
Source: Bank Website

Story first published: Thursday, August 12, 2021, 11:43 [IST]
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