Canara Bank:
Inflation in the festive season has broken the back of ordinary people. Meanwhile, the government bank Canara Bank has given a wonderful gift to its customers.
The bank has increased the interest rates on savings accounts. According to the information received from the bank’s official website,
the improved new rates have come into effect from December 21, 2022. After this change, Canara Bank provides up to 4% interest on a savings account.
Let us tell you that on December 19, Canara Bank announced an increase of 0.55 percent on fixed deposits.
After this, the bank has also increased the interest rates of the savings account.
If you want to open an account in Canara Bank, then you can open an account in urban and metro cities for Rs 1000.
On the other hand, an account can be opened in the branches of rural areas with Rs.500.
The bank credits interest in the savings account on February 1, May 1, August 1 and November 1 every year.
Know new interest rates
The bank offers an interest rate of 2.90 percent on deposits of less than Rs 50 lakh.
On the other hand, Canara Bank is offering interest rates of 2.90 percent on deposits of more than Rs 50 lakh and less than Rs 5 crore.
Interest is being paid at the rate of 2.95 per cent on deposits of Rs 5 crore to Rs 10 crore.
At the same time, 3.05 percent interest is being received on deposits ranging from Rs 10 crore to Rs 100 crore. 3.5 percent interest will be given on deposits of 100 crores to 200 crores.
The interest rate will be 3.10 percent on deposits of 200 crores to 500 crores. 3.40 percent interest will be given on deposits of 500 crores to 1,000 crores.
Canara Bank increased FD interest rates.
Canara Bank had recently increased the interest rates of fixed deposits. The bank had increased the interest rates on FDs of less than Rs 2 crore by 0.55 percent.
The increased new rates have come into effect from December 19, 2022.
According to the Canara Bank website, now on FDs ranging from 7 days to 10 years, common citizens are getting interest ranging from 3.25% to 6.50% and senior citizens from 3.25% to 7%.
