Canara Bank revises interest rates on savings account, introduces additional slab of Rs1000 crore -; above

2 Mar 2022 , 10:23 AM

Canara Bank, a leading Public Sector Bank, has revised the rates of Interest and introduced Additional slab for Rs1,000 crore and above, for Saving Bank deposits, with  higher rates of interest, w.e.f. March 01, 2022..

The slab-wise revised rates of interest for Savings Bank Deposits (Domestic/NRE/NRO) w.e.f. March 01, 2022 will be as under:

For outstanding Balance of less than Rs50 Lakh, the rate of interest (ROI) is 2.90%

For outstanding Balance of Rs50 Lakh to less than Rs100 crore, the ROI is 2.90%.

Similarly, for outstanding Balance of Rs100 crore to less than Rs300 crore, 3.05% is the rate of interest. And for outstanding Balance of Rs300 crore to less than Rs500 crore, ROI is 3.05%.

Further, for outstanding Balance of Rs500 crore to less than Rs1000 crore is 3.35% while for outstanding Balance of Rs1000 crore & above, ROI is 3.50%.

At around 10:24 AM, Canara Bank was trading at Rs217.60 apiece down by Rs2.05 or 0.93% on the BSE.