Canara Bank revises fixed deposit rates by up to 1%

State-owned Canara Bank today raised fixed deposit rates by up to 1 percent on select maturities. However, the interest rate has been brought down by 0.5 percent on one maturity slab (180-269 days) to 7.5 percent from 8 percent.

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Interest rates on 1-2 years and 3-5 years fixed deposits have been raised by 0.55 percent to 9.05 percent, Canara Bank said in a statement. Fixed deposits between 270 days and 1 year will earn 1 percent higher interest. The new rate would be 9 percent against existing rate of 8 per cent, it said.

Interest rate on 5-10 years deposits has been raised by 0.55 percent to 9.05 percent. The new rates would be effective from tomorrow.

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