Canara Bank has introduced a new tenure of Fixed Deposit (FD).
Canara Bank has introduced a new tenure of Fixed Deposit (FD). According to the Canara Bank website, the bank has added a new tenure of 333 days, on which interest is available at the rate of 5.10 percent.
Canara Bank (Canara Bank) has fixed deposit (FD) introduced a new period. According to the Canara Bank website, the bank has added a new tenure of 333 days, on which the interest rate is 5.10 percent. (FD Interest Rate) Get. For the same period, senior citizens (Senior Citizen) An interest rate of 5.60 per cent is available for Rs. This interest rate is effective from 23 June 2022. This period is not available for bulk deposits. The bank now has an interest rate of 2.90 percent to 5.75 percent for common citizens. Senior citizens get an additional interest rate of 0.50 per cent on deposits with a tenor of 180 days or more.
For the Canara Tax Only Deposit Program, the bank offers an interest rate of 5.75 per cent per annum. The maximum investment that can be made in this is Rs 1.50 lakh.
Bank FD interest rates
Keep in mind that the bank offers the same interest rate on recurring deposits as well. According to the bank’s website, Canara Bank last increased the FD interest rates on 12 May 2022.
According to the bank, domestic or NRO term deposits of less than Rs 2 crore attract a penalty of 1.00 per cent for premature closure, partial withdrawal or premature extension.
Rules on bank FDs
According to the website, for premature closure, partial withdrawal, premature extension of domestic or NRO term deposits, the bank levies a penalty of 1.00 per cent. The bank said that such deposits closed before maturity or partial withdrawal or extended before maturity earn interest at the rate of 1.00 per cent less than the appropriate rate. However, no penalty will be payable on term deposits that have been closed or carried forward before the completion of the seventh day.
Earlier, let us tell you that in the beginning of June, Canara Bank had increased the MCLR by 5 basis points i.e. 0.05 percent for the tenure of 6 months and one year. After this, customers have to pay 7.35 percent instead of 7.30 percent and 7.40 percent instead of 7.35 for two different tenors. Excluding the MCLR of these two periods, there was no change in the interest rates of the MCLR for the rest of the period.