Canara Bank hikes interest rates on fixed deposits: Check new rates here

The Reserve Bank of India increased its repo rate by 50 basis points from 4.9 percent to 5.4 per cent 

Canara Bank, a public sector lender, increased interest rates on fixed deposits below ₹2 crore.  

Following the revision, the bank is now providing interest rates on deposits maturing in 7 days to 10 years that range from 2.90 per cent to 5.75 per cent 

Canara Bank will now give an interest rate of 4.65 per cent on deposits maturing in 270 days to less than a year, up from 4.55 per cent.

On deposits maturing in above 1 year to less than 2 years, Canara Bank will now offer an interest rate of 5.55% 

Canara Bank will now provide an interest rate of 5.60 per cent on fixed deposits maturing in 2 years and above to less than 3 years 

The bank will now provide an interest rate of 5.75 per cent on fixed deposits maturing in 3 years or more but less than 5 years 

while it has maintained its 5.75 per cent interest rate on term deposits maturing in 5 years or more but less than 10 years. 

On deposits up to ₹1.5 lakh, the bank is offering 5.75 per cent annual interest for the Canara Tax Saver Deposit Scheme (general public) and 6.25 per cent for senior citizens. 

On deposits up to ₹1.5 lakh, the bank is offering 5.75 per cent annual interest for the Canara Tax Saver Deposit Scheme (general public) and 6.25 per cent for senior citizens.