Canara Bank slashes fixed deposit rates by 5 bps & 10 bps

Canara Bank has cut the interest rates on deposits which are less than ₹2 crores on all tenures either by 5 basis points (bps) or 10 bps with effect from 16 November.

After the latest revision, for term deposits with maturity period 7-45 days, 1 year, above one year to less than three years, the interest rate is 2.95%,5.25 %, 5.20% respectively

For FDs with maturity period 46-90 days, 91 days to 179 days, and 180 days to less than 1 year, the bank will give 3.9, 4. and 4.45% interest rates respectively. For FDs maturing in one year to less than three years, Canara Bank has slashed interest rates by 5 basis points (bps). For FDs with three to ten years of tenure, the state-owned bank will now give a 5.30% interest rate.

Canara Bank latest FD interest rates (below 2 crores) for the general public effective 16 November

  • 7 days to 45 days – 2.95%
  • 46 days to 90 days – 3.90%
  • 91 days to 179 days – 4%
  • 180 days to less than 1 Year- 4.45%
  • 1 year only -5.25%
  • Above 1 year to less than 2 years – 5.20%
  • 2 years & above to less than 3 years -5.20%
  • 3 years & above to less than 5 years-5.30%
  • 5 years & above to 10 Years- 5.30%

After the latest revision, senior citizens will get an interest rate ranging from 2.95% to 5.80% for FDs maturing in 7 days to 10 years. Canara Bank gives 50 bps more than the general customers to senior citizens on deposits maturing in 180 days to 10 years. Earlier, the bank had revised the interest rates on FDs on 1st October.

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