Public sector lender Canara Bank has revised its fixed deposit (FD) rates with effect from November 1, 2018. Fixed deposits (FDs), also known as term deposits, are secure financial instruments, which offer guaranteed returns. Canara Bank has increased fixed deposit interest rate to 7 per cent (for general public) and 7.50 per cent (for senior citizens) for deposits less than Rs 1 crore for a tenure of 1 year, as mentioned on it's official website- canarabank.com. The lender has also introduced special fixed deposit schemes (Canara Shikhar Deposit) for 444 and 555 days.
Public sector lender Canara Bank has revised its fixed deposit (FD) rates with effect from November 1, 2018. Fixed deposits (FDs), also known as term deposits, are secure financial instruments, which offer guaranteed returns. Canara Bank has increased fixed deposit interest rate to 7 per cent (for general public) and 7.50 per cent (for senior citizens) for deposits less than Rs 1 crore for a tenure of 1 year, as mentioned on it's official website- canarabank.com. The lender has also introduced special fixed deposit schemes (Canara Shikhar Deposit) for 444 and 555 days.
Public sector lender Canara Bank has revised its fixed deposit (FD) rates with effect from November 1, 2018. Fixed deposits (FDs), also known as term deposits, are secure financial instruments, which offer guaranteed returns. Canara Bank has increased fixed deposit interest rate to 7 per cent (for general public) and 7.50 per cent (for senior citizens) for deposits less than Rs 1 crore for a tenure of 1 year, as mentioned on it's official website- canarabank.com. The lender has also introduced special fixed deposit schemes (Canara Shikhar Deposit) for 444 and 555 days.
For the same tenure, other banks offer different rates. It may be noted that banks offer a slightly higher interest rate on FDs to senior citizens.
Here is a comparison of interest rates offered by Canara Bank, State Bank of India (SBI), HDFC Bank and ICICI Bank on fixed deposits up to Rs. 1 crore:
Canara Bank
The following FD interest rates are applicable on deposits below Rs 1 crore, according to Canara Bank's website - canarabank.com:
State Bank of India (SBI)
The following FD interest rates are applicable on deposits below Rs 1 crore, according to State Bank of India's website - sbi.co.in:
HDFC Bank
The following FD interest rates are for deposits below Rs 1 crore with effect from October 6, according to the bank's website - hdfcbank.com:
ICICI Bank
The following FD interest rates are applicable on deposits below Rs 1 crore, according to the bank's website - icicibank.com:
However, small finance banks offer higher interest rates on fixed deposits as compared to other larger lenders.
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