This bank has increased the interest rate to savings a/c!!!
Government lender Canara bank has increased the interest rate on the savings account. After its announcement on june 29, 2022, the bank increased the interest rate on the savings account by 5 basis points. It is now offering a maximum interest rate of 3.55 percent, which is applicable to SBI, BOB, PNB, PSB, UCO bank, BOI, bank of Maharashtra, Central bank of India, and much higher than the rates offered by banks and indian Overseas.
Canara bank Savings Account Interest Rates
The bank will continue to offer an interest rate of 2.90 percent on the outstanding amount less than Rs 50 lakh and above Rs 50 lakh and less than Rs 100 crore. Savings account Rs. Above 100 crores and up to Rs 300 crores, the bank has increased the interest rate from 3.05 percent to 3.10 percent. Interest in savings accounts above Rs 300 crore and up to Rs 500 crore Canara bank has increased the rates of a savings account by 5 bps, after which the rates have been reduced from 3.05 percent to 3.10 percent. Canara bank will now pay 3.40 percent on the outstanding balance from Rs 500 crore to less than Rs 1000 crore, which was 3.35 percent earlier. The bank will give 3.55 percent interest on the outstanding dues above Rs 1000 crore.
FD rates have changed
Canara bank recently changed the interest rates on fixed deposits of less than Rs 2 crore on june 23, 2022. As per the amendment, the bank started offering interest rates of 2.90 percent to 5.75 percent and 2.90 percent to the general public. Will provide 6.25 percent interest to senior citizens on deposits from seven days to ten years. The bank is now offering a maximum interest rate of 5.75 percent for regular customers and 6.25 percent for senior citizens on fixed deposits of up to 5 years and 10 years.