Mumbai: Leading public sector bank in the country, Canara Bank has revised the interest rates on term deposits less than Rs 2 crore, Rs 2 crore and above but less than Rs 10 crore. The highest interest rate for a callable deposit of less than Rs 2 crore is 7.25% for a tenure of 444 days for the general public and it is 7.75% for senior citizens. The highest interest rate for a non-callable deposit of less than Rs 2 crore (and greater than Rs 15 lakh) is 7.40% for a tenure of 444 days for the general public and it is 7.90% for senior citizens. Non-callable deposits are those deposits where premature withdrawal is not permitted.
The bank offers interest rates on callable deposits maturing in 7 days to 10 years that range from 4% to 7.25% for the general public and 4% to 7.75% for senior citizens after the revision. Bank provides 6.70% annual interest on the Canara Tax Saver Deposit general public. The interest rate mentioned also applies to recurring deposits.
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