Canara Bank announces special FD scheme. Check tenure, rate of interest here

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Canara Bank has announced a special fixed deposit (FD) plan under which the lender is offering interest to its regular customers at a rate of 7 per cent, while senior citizens will receive interest at 7.5 per cent.

“Now get maximum returns on your investment! Presenting Canara Special Deposit Scheme that offers 7.50% interest by investing for 666 days,” the Bengaluru-headquartered bank said in a tweet on Friday.

One can apply online on canarabank.com, or visit their nearest branch. For more information, you can call on 1800 425 0018 or 1800 103 0018.

Canara Bank lending rates

From today, the revised Marginal Cost of Funds Based Lending Rate (MCLR) will come into effect. MCLR has been hiked to 7.05 per cent, 7.40 per cent, and 7.80 per cent for 1 month, 3 months and 6 months respectively; each has been raised by 15 basis points.

Meanwhile, the 1-year MCLR has been hiked 1 basis point to 7.90 per cent.

Canara Bank latest FD rates

For deposits maturing in 7 days to 10 years, Canara Bank’s interest ranges from 2.90 per cent to 5.75 per cent for general public, and 2.90 per cent to 6.25 per cent for senior citizens.


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