Canara Bank hikes fixed deposit rates. Latest FD rates here
1 min read 03 Mar 2022, 07:47 AM ISTCanara Bank has raised interest rates on fixed deposits across various maturities
PremiumCanara Bank has raised interest rates on fixed deposits across various maturities by up to 25 basis points. The revised rates are effective from March 1, 2022, according to Canara Bank's website.
After the latest revision, for term deposits with a maturity period of 7-45 days, Canara Bank will offer a 2.90% interest rate. 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, 3.95 and 4.40% interest rates respectively.
The interest rate on fixed deposits for tenure 1 year has been increased to 5.1 per cent while for one-two years it is raised to 5.15 per cent from 5 per cent.
Fixed deposits between 2-3 years would invite an interest rate of 5.20 per cent and 3-5 years 5.45 per cent from 5.25 per cent earlier.
Maximum 25 basis point hike has been done for the 5-10 years fixed deposit slab to 5.5 per cent.
Canara Bank latest FD interest rates (below ₹2 crore) for the general public effective 1 March 2022
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 - 5.15%
2 years & above to less than 3 years - 5.20 %
3 years & above to less than 5 years-5.45%
5 years & above to 10 Years- 5.50%
Canara Bank latest FD interest rates (below ₹2 crore) for senior citizens
After the latest revision, senior citizens will get an interest rate ranging from 2.90% to 6% for FDs maturing in 7 days to 10 years.
In the month of February, SBI, HDFC Bank, Bank of Baroda (BoB), Central Bank of India and UCO Bank announced a hike in their fixed deposit rates.
