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Business News/ Money / Personal Finance/  Canara Bank special fixed deposit (FD) scheme that offers 7.5% interest. Details here
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Canara Bank special fixed deposit (FD) scheme that offers 7.5% interest. Details here

This special term deposit scheme introduced by Canara Bank is for amount below ₹2 crore

Canara Bank has increased the MCLR and RLLR across all tenors. (Mint)Premium
Canara Bank has increased the MCLR and RLLR across all tenors. (Mint)

Canara Bank has launched a special fixed deposit plan for a tenure of 666 days. According to this plan, the lender is offering an interest rate of 7% to its general customers, while senior citizens will receive 7.5% on these deposits. This special term deposit scheme introduced by the state-owned bank is for amount below 2 crore.

“Now get maximum returns on your investment! Presenting Canara Special Deposit Scheme that offers 7.50% interest by investing for 666 days," tweeted Canara Bank.

 

Special FD scheme launched by the Canara Bank: Important details

Tenure: This special FD scheme is offered for a tenure of 666 days.

FD interest rate: This special term deposit scheme launched by the Canara Bank offers an annual interest rate of 7 per cent for public in general whereas senior citizens will get 7.5 per cent annual return on their money.

Unity Bank special FD scheme that offers 8.4% to senior citizens

Unity Small Finance Bank Limited (Unity Bank) has launched Shagun 501, a special Fixed Deposit tenure to brighten up Dussehra and Diwali. For a 501 days fixed deposit, retail customers will earn an attractive return of 7.90% p.a., whereas senior citizens earn 8.40 % p.a. This festive offer is available only for deposits booked up to 31st October, 2022.

Canara Bank hikes lending rates effective today

The Repo Linked Lending Rate (RLLR) and Marginal Cost of Funds Based Lending Rate (MCLR) have been hiked by public sector lender Canara Bank. The revised rates will come into effect today, October 7, 2022. The bank increased the MCLR and RLLR across all tenors.

On overnight to 1-month MCLR, Canara Bank has hiked rates by 15 bps to 7.05%. On a three-month MCLR, the rate has been hiked by 15 bps to 7.40% and on a six-month MCLR, the rate has been hiked by 15 bps to 7.80%. On one year MCLR, the bank has hiked its rate by 1 bps from to 7.90%.

Canara Bank latest FD rates

On deposits maturing in 7 days to 10 years, Canara Bank gives an interest rate ranging from 2.90 per cent to 5.75 per cent for the general public and 2.90 per cent to 6.25 per cent for senior citizens.

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Published: 07 Oct 2022, 10:12 AM IST
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