Canara Bank launches Special Fixed Deposit Scheme. Check interest rate & tenure

Hyderabad: Canara Bank, India’s third largest nationalized bank, has unveiled a new fixed deposit plan for the general public, including senior citizens. The ‘Canara Bank Special Deposit Scheme’ offers an interest rate of 7.50% for a tenure of 666 days. The 7.50% interest rate is only for senior citizens; however, the rate of interest would […]

Hyderabad: Canara Bank, India’s third largest nationalized bank, has unveiled a new fixed deposit plan for the general public, including senior citizens. The ‘Canara Bank Special Deposit Scheme’ offers an interest rate of 7.50% for a tenure of 666 days.

The 7.50% interest rate is only for senior citizens; however, the rate of interest would be 7% for general customers.

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The new FD scheme is only available for deposits below Rs 2 crore.

The scheme will come into effect from 7 October 2022. One can apply for FD online or by visiting the nearest Canara Bank branch.

Canara Bank took to Twitter to share the details of the new scheme.

Now get maximum returns on your investment!

Presenting Canara Special Deposit Scheme that offers 7.50% interest by investing for 666 days. #CanaraBank #CanaraBankSpecialDepositScheme #666Days pic.twitter.com/I2WEoHzVQr

— Canara Bank (@canarabank) October 7, 2022

“Now get maximum returns on your investment! Presenting Canara Special Deposit Scheme that offers 7.50% interest by investing for 666 days,” read the caption.

The bank offers multiple FDs for various tenures to its investors. The interest rates for these FDS with different tenures range between 2.90% to 6.40 %. The highest FD rate offered is 6.25% for the general public and 6.40 for senior citizens for a tenure of 5 years & above to 10 years.