According to the bank’s website, the new rates have come into effect from October 27, 2023. Canara Bank is offering FD from 7 days to 10 years. After revision, Canara Bank is offering 4 percent to 7.25 percent interest on FD to the general public and 4 percent to 7.75 percent to senior citizens.

You will get benefit only on these FDs

Canara Bank is offering these new interest rates on new and renewable FDs of less than Rs 2 crore. If you close your FD prematurely, there will be a penalty of 1.00%. According to the bank’s website, the bank is giving extra interest of 0.60 percent to super senior citizens i.e. people aged 80 years and above. At the same time, it is giving 0.50 percent interest to senior citizens.

New rates of Canara Bank FD

Canara Bank is now offering 4% interest rate on EPDs maturing between 7 to 45 days and 5.25% interest rate on deposits maturing between 46 to 90 days. Canara Bank is offering 5.50 percent interest rate on deposits maturing in 91 to 179 days and 6.15 percent interest rate on deposits maturing in 180 to 269 days.

These are the revised rates of Canara Bank

Now 6.25 percent interest rate will be available on deposits maturing in 270 days to less than one year. Now 6.90 percent interest rate will be available on deposits maturing in 1 year. The bank is giving the highest interest on FD maturing in 444 days. The bank is giving 7.25 percent interest on FD of 444 days.

These are the revised interest rates

Canara Bank is offering interest rate of 6.85% on FDs maturing in a period of more than one year to less than two years. It now guarantees an interest rate of 6.85% on FDs of two years or more maturing in 3 years. Canara Bank is now offering 6.80 percent interest on deposits maturing in three years or more but less than five years. FDs maturing in five years or more will get 6.70 percent interest.

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The good thing is that to control the rising inflation, the Reserve Bank of India (RBI) is also continuously increasing the interest rates. Due to this, banks are not only making loans costlier, but also increasing the interest rates on deposits. Now if we look at the list of public sector banks giving the highest interest for a period of 5 years, then there are many banks which are offering annual returns of up to 7.00%.

Bank of Baroda FD Rates

Bank of Baroda (Bank of Baroda FD Rate): For senior citizens, the government bank is offering an interest of 6.90% per annum for a period of 5 years. While giving interest of 7.25% for 3 years. Also, 7.25% interest is available for a period of 1 year.

Bank of India FD Rates

Bank of India (Bank of India FD Rate): The government bank is offering 6.75% interest per annum on FD of 5 years duration to its senior citizens. While offering 7.25% interest on 3 years and 6.50% interest on 1 year.

Bank of Maharashtra FD Rates

Bank of Maharashtra (Bank of Maharashtra FD Rate): This bank is giving 6.25% interest to senior citizens on FDs for a period of 5 years. Apart from this, it is offering 6.50% interest for a period of 3 years and 6.65% for 1 year.

Canara Bank FD Rates

Canara Bank FD Rate: The bank is offering 7.00% p.a. interest on FDs for a period of 5 and 3 years to its senior customers. Apart from this, 7.25% interest is being offered for a period of one year.

Indian Bank FD Rates

Indian Bank (Indian Bank FD Rate): This government bank is offering 7.00% interest on FD for a period of 5 years. While paying 6.75% interest annually on FD for 3 years. Apart from this, 6.60% interest is available for a period of 1 year.

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