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Canara Bank increases deposit rates on FD, know how much interest will be available now

New Delhi, Business Desk. 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 1 year Less than – 4.4 percent

1 year – 5 percent Above

1 year 400 days – 5.1 percent

Above 400 days 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 Percentage

above 5 years and up to 10 years – 5.25 per cent (with Pti input)

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