State Bank of India (SBI) and Punjab National Bank (PNB) have increased their fixed deposit (FD) interest rates. The development comes close on the heels of the RBI ramping up efforts to control excess liquidity from the banking system.
Updated Feb 07, 2021 | 18:00 IST
The bank has cut interest on deposits maturing in one year. For FDs with tenures 2 years to ten years, Canara Bank has hiked interest rates Canara Bank revises fixed deposit rates. Check latest rates here | Photo Credit: BCCL
New Delhi: State-owned Canara Bank has revised interest rates on deposits which are less than Rs 2 crores with effect from 8 February 2021.
The bank has cut interest on deposits maturing in one year. For FDs with tenures 2 years to ten years, Canara Bank has hiked interest rates. After the latest revision, for term deposits with a maturity period of 7-45 days, Canara Bank will offer a 2.95% interest rate. For FDs with maturity period 46-90 days, 91 days to 179 days, and 180 days to less than 1 Year, the bank will give 3.9, 4 and 4.45% interest rates respectively.