Canara Bank revises upward its domestic rates

Bangalore, Mar 3 (UNI) Canara Bank has increased interest rates on its domestic term deposits, with effect from March six.

For deposits up to Rs 15 lakh, the rates had been revised by 0.25 per cent for short term deposits starting from 15 days to 179 days and 0.5 per cent for deposits starting from 180 days to more than five years. However, the increase would be only 0.25 per cent for deposits over two years and up to three years. Deposits of over Rs 15 lakh would attract a 0.5 per cent increase for various terms starting from 46 days, according to a Bank release here.

Following were the new rates applicable for deposits less than Rs 15 lakh: 7 days to 14 days four per cent (existing four per cent), 15 days to 45 days 4.75 (4.50), 46 days to 90 days 5.25 (five), 91 days to 179 days 5.75 (5.5), 180 days to less than one year six (5.5), one year and above but less than two years 6.50 (six), two years and above but less than three years 6.50 (6.25), three years and above to less than five years 7.00 (6.5), and more than five years seven (6.5).

For senior citizens, the bank offered one per cent over the above rates, the release said.

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