Canara Bank FD Interest rate increase..!?
Following the RBI's repo rate hike, a bank has been raising interest rates on fixed deposits for the day. Canara bank, a public sector bank, has hiked interest rates on fixed deposit schemes from 0.10 percent to 0.25 percent. Canara bank can take advantage of this interest rate hike when depositing up to Rs 2 crore in fixed deposit schemes for 46 to 10 years. The new interest rate will be available to those who invest in fixed deposit schemes from May 12.
If you invest for 7 to 45 days, you will get a return of 2.90%. 4 percent for 46 to 90 days, 4.05 percent for 91 to 179 days, 4.50 percent for 180 to 269 days, 4.55 percent for 270 to 1 year, 5.30 percent for 1 year and 5.40 percent for more than 1 year. 5.45 percent for 2 years or 3 years, 5.70 percent for 5 years up to 3 years, and 5.75 percent for 10 years over 5 years.
If you invest for 7 to 45 days, you will get a return of 2.90%. 4 percent for 46 to 90 days, 4.05 percent for 91 to 179 days, 5 percent for 180 to 269 days, 5.05 percent for 270 to 1 year, 5.80 percent for 1 year and 5.90 percent for more than 1 year. 5.95 percent for 2 years or 3 years, 5.20 percent for 5 years up to 5 years, and 6.25 percent for 10 years over 5 years.