PSU Bank Canara Bank has increased the interest rates on fixed deposits of various maturities by up to 25 basis points.
Canara Bank said that the revised rates have become effective from March 1, 2022. It said that the interest rate on FDs for one year has been increased to 5.1 percent while for one or two years it has been increased from 5 percent to 5.15 percent.
It said that the interest rate of 5.20 per cent on FDs between 2-3 years and 5.45 per cent for 3-5 years will be charged at the rate of 5.25 per cent earlier.
It said that for the fixed deposit slab of 5-10 years, a maximum of 25 basis points has been increased to 5.5 per cent. Senior citizens will get 50 basis points more in all categories.
Let us tell you that earlier Bank of Baroda had also increased the interest rate. Bank of Baroda had increased the interest rates on various FDs on February 25, 2022.
FDs maturing in 1 year will now get 5 percent interest instead of 4.90 percent. The customer will get 5.10 percent interest rate on BoB fixed deposits maturing in 1 year to 2 years.
New Interest Rates on BoB FD
- 7 to 14 days – 2.8 percent
- 15 to 45 days – 2.8 percent
- 46 to 90 days – 3.7 percent
- 91 to 180 days – 3.7 percent
- 181 to 270 days – 4.3 percent
- 271 days and above and less than 1 year – 4.4 percent
- 1 year – 5 percent
- 400 days above 1 year – 5.1 percent
- Above 400 days and up to 2 years – 5.1 percent
- Above 2 years and up to 3 years – 5.1 percent
- Above 3 years and up to 5 years – 5.25 percent
- Above 5 years and up to 10 years – 5.25 percent (with Pti input)
