Mumbai: The fourth largest public sector bank in the country, Canara Bank hiked the interest rates on fixed deposits below Rs2 crore. The pulic sector lender is now offering interest rates on deposits maturing in 7 days to 10 years that range from 3.25% to 6.50% for the general public and 3.25% to 7.00% for senior citizens. The bank is now giving a maximum interest rate of 7.00% to the general public and 7.50% to senior citizens on deposits maturing in 666 days.
On deposits maturing in 7 days to 45 days the bank is now offering an interest rate of 3.25% and for those maturing in 46 days to 179 days Canara Bank is now offering an interest rate of 4.50%. Deposits maturing in 180 days to less than 1 Year will now fetch an interest rate of 5.50% and those maturing in 1 year to less than 2 years will now fetch an interest rate of 6.25%. Canara Bank will now offer an interest rate of 7.00% on deposits maturing in 666 Days and 6.25% on those maturing in 2 years and above to less than 3 years.
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On deposits maturing in 3 years to 10 years, Canara Bank will now offer an interest rate of 6.50%. According to the Canara Bank, the above interest rate also applies to recurring deposits.
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