Canara Bank Savings Account Interest Rates
For an outstanding balance of less than Rs. 50 Lakh and an outstanding balance of Rs. 50 Lakh to less than ₹100 Cr on savings accounts, the bank will continue to offer an interest rate of 2.90%. On savings account balance of Rs. 100 Cr to less than ₹300 Cr the bank hiked the interest rate from 3.05% to 3.10% and for an outstanding balance of Rs. 300 Cr to less than ₹500 Cr in a savings account, Canara Bank has hiked savings account rates by 5 bps from 3.05% to 3.10%. For outstanding savings account balances of ₹500 Cr to less than ₹1000 Cr, Canara Bank will now offer an interest rate of 3.40% which was 3.35% earlier. The bank increased the interest rate on savings account balances of Rs. 1000 crore and above by 5 basis points, from 3.50 per cent to 3.55 per cent.
Canara Bank recently changed the interest rates on fixed deposits below ₹2 Cr on June 23, 2022. In accordance with the modification, the bank began to provide interest rates of 2.90 per cent to 5.75 per cent to the general public and 2.90 per cent to 6.25 per cent to senior citizens on deposits spanning seven days to ten years. The bank is now giving a maximum interest rate of 5.75 per cent to regular customers and 6.25 per cent to senior citizens on fixed deposits due in 5 years and up to 10 years.
