Canara Bank Revises Interest Rates On Savings Account: Check New Rates Here

Canara Bank, a public sector lender, has revised interest rates on domestic, NRO, and NRE savings accounts. The revised rates go into effect on March 1, 2022. Following the recent change, the bank is now giving a 2.90 percent interest rate on savings account outstanding balances of less than Rs 50 lakh and between Rs 50 lakh and Rs 100 crore. The bank is now giving a 3.05 percent interest rate on savings account balances of Rs 100 crore and less than Rs 300 crore, as well as balances of Rs 300 crore and less than Rs 500 crore. Canara Bank is currently giving a 3.35 percent interest rate on savings account balances of Rs 500 crore and less than Rs 1000 crore. The bank is now giving a 3.50 percent interest rate on savings account balances of Rs 1000 crore and above.

Canara Bank Saving Account Interest Rates 2022

Canara Bank is giving the following interest rates on Domestic/NRO/NRE savings bank deposits as of 01.03.2022.

Slabs	Rate of interest in %
For outstanding Balance of less than Rs. 50 Lakh	2.90%
For outstanding Balance of Rs. 50 Lakh to less than Rs 100 Cr	2.90%
For outstanding Balance of Rs. 100 Cr to less than Rs 300 Cr	3.05%
For outstanding Balance of Rs. 300 Cr to less than Rs 500 Cr	3.05%
For outstanding Balance of Rs 500 Cr to less than Rs 1000 Cr	3.35%
For outstanding Balance of Rs 1000 Cr & above	3.50%
Source: Bank Website

Canara Bank Fixed Deposit Interest Rates

Canara Bank also increased interest rates on fixed deposits of various tenors on March 1, 2022. The interest rate on one-year fixed deposits has been increased from 5% to 5.1 percent, while the rate on two-year fixed deposits has been adjusted from 5% to 5.15 percent. Interest rates on fixed deposits maturing between two and three years will be 5.20 percent, up from 5.1 percent before, while deposits maturing in three and five years the interest rate will be 5.45 percent, up from 5.25 percent previously. The interest rates on fixed deposits maturing in 5-10 years have been adjusted to 5.5 percent, up from 5.25 percent before. Check the latest interest rates on fixed deposits of less than Rs 2 Cr.

Tenors	Regular interest rates p.a.	Annualised Interest yield (% p.a.)	Senior citizens interest rates p.a.	Annualised Interest yield (% p.a.)
7 days to 45 days*	2.9	2.93%	2.9	2.93%
46 days to 90 days	3.9	3.96%	3.9	3.96%
91 days to 179 days	3.95	4.01%	3.95	4.01%
180 days to less than 1 Year	4.4	4.47%	4.9	4.99%
1 year only	5.1	5.20%	5.6	5.72%
Above 1 year to less than 2 years	5.15	5.25%	5.65	5.77%
2 years & above to less than 3 years	5.2	5.30%	5.7	5.82%
3 years & above to less than 5 years	5.45	5.56%	5.95	6.08%
Canara Unique "1111 Days"	5.55	5.67%	6.05	6.19%
5 years & above to 10 Years	5.5	5.61%	6	6.14%
Source: Bank Website