Canara 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
The new FD scheme is only available for deposits below Rs 2 crore
The scheme will come into effect from 7 October 202
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,” 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 %