Canara Bank issues new interest rates for Fixed Deposits

The public sector lender, Canara Bnak has issued revised interest rates for its Fixed Deposits (FDs), which were set to take effect from August 9, 2021. Canara bank allows its customers to avail the benefits of term deposits of a minimum of seven days and up to 10 years. However, there is a waiting period for the renewal of the deposited amount. For amount below Rs 5 lakh, the waiting period is 15 days for the renewal. 

Revised FD Interest Rates for Regular Citizens

The revised interest rates are for regular citizens from 7 days to 10 years for deposits under Rs 2 crore. This has taken effect from August 9, 2021. 

7 days to 45 days – 2.90% per annum 

46 days to 90 days – 3.90% per annum

91 days to 179 days – 3.95% per annum

180 days to less than 1 year – 4.40% per annum

1 year only – 5.10% per annum

Above 1 year to less than 2 years – 5.10% per annum

2 years and above to less than 3 years – 5.10% per annum

3 years and above to less than 5 years – 5.25% per annum

Canara Unique ‘111 Days’ – 5.35% per annum

5 years and above to 10 years – 5.25% per annum

Revised FD Interest Rates for Senior Citizens 

7 days to 45 days – 2.90% per annum

46 days to 90 days – 3.90% per annum

91 days to 179 days – 3.95% per annum

180 days to less than 1 year – 4.90% per annum

1 year only – 5.60% per annum

Above 1 year to less than 2 years – 5.60% per annum

2 years and above to less than 3 years – 5.60% per annum

3 years and above to less than 5 years – 5.75% per annum

Canara Unique ‘111 Days’ – 5.85% per annum

5 years and above to 10 years – 5.75% per annum