Government bank : If you are a public sector customer of Canara Bank, then there is good news for you. Actually, Canara Bank has increased the interest rates of fixed deposits.
This will benefit those customers who deposit or are about to deposit in the bank. The revised interest rates are effective from March 1, 2022.
How much increased: Canara Bank has increased the interest rates on deposits of different tenors by up to a quarter percent.
The interest rate on deposits for a tenor of one year has been increased to 5.1 per cent while on fixed deposits for one or two years, it has been increased from 5 per cent to 5.15 per cent.
The interest rate on fixed deposits of 2-3 years has been revised to 5.20 per cent and for deposits of 3-5 years to 5.45 per cent from 5.25 per cent earlier, said the bank statement.
According to the statement of the bank, the interest rate has been increased to 5.5 percent by increasing the maximum 0.25 percent on fixed deposits of 5-10 years.
Apart from this, senior citizens will get 0.50 percent or half percent more interest on fixed deposits of all tenors.
