Canara Bank has updated its interest rates for FDs below Rs 2 crore, offering a new gift to its customers.
The bank’s website states that the new rates became effective on June 11, 2024. Canara Bank now offers FDs ranging from 7 days to 10 years.
Following the update, Canara Bank now offers interest rates ranging from 4% to 7.25% for FDs to the general public and 4% to 7.75% to senior citizens.
Canara Bank FD New Rates
Canara Bank currently provides a 4% interest rate for EPDs maturing between 7 to 45 days, and a 5.25% interest rate for deposits maturing between 46 to 90 days.
Canara Bank provides a 5.50% interest rate for deposits maturing in 91 to 179 days and a 6.15% interest rate for deposits maturing in 180 to 269 days.
These are the rates for callable and non-callable FDs. In callable FDs, you can withdraw money prematurely.
However, in non-callable FDs, premature withdrawals are not allowed.
These are the revised interest rates
Canara Bank is offering a 6.85% interest rate on FDs maturing between one to less than two years.
It also guarantees the same interest rate of 6.85% for FDs maturing in three years or more.
Canara Bank is currently offering a 6.80% interest rate on deposits maturing between three years or more but less than five years, while FDs maturing in five years or more will receive a 6.70% interest rate.
FD interest rates for different tenures
- 7 days to 14 days: 4.00% (General), 4.00% (Senior Citizen)
- 46 days to 90 days: 5.25% (General), 5.25% (Senior Citizen)
- 91 days to 179 days: 5.50% (General), 5.50% (Senior Citizen)
- 180 days to 269 days: 6.15% (General), 6.65% (Senior Citizen)
- 270 days to less than 1 year: 6.40% (General), 6.75% (Senior Citizen)
- 1 Year: 6.85% (General), 7.35% (Senior Citizen)
- 444 days: 7.25% (General), 7.75% (Senior Citizen)
- More than 1 year but less than 2 years: 6.85% (General), 7.35% (Senior Citizen)
- More than 2 years but less than 3 years: 6.85% (General), 7.35% (Senior Citizen)
- More than 3 years but less than 5 years: 6.80% (General), 7.30% (Senior Citizen)
- Above 5 years but up to 10 years: 6.70% (General), 7.20% (Senior Citizen)
