Canara Bank Revises Interest Rates On Domestic & NRO Term Deposits

Chennai, 03rd March 2021: Canara Bank, a leading Public Sector Bank, has revised the interest rates on Domestic and NRO Term Deposits. The bank has given  higher rate for new Retail Term Deposit Product “Canara Unique” for 1,111 days.

The revised rates of interest and new maturity slabs are as under:

** The rates are applicable only for single deposit of Rs.5 Lakh & above. The minimum period for acceptance / renewal of domestic / NRO term deposits is 7 days irrespective of the size of deposit. For single deposit of below Rs.5 Lakh, the minimum tenor of deposit is 15 days.

About Canara Bank:

Widely known for customer centricity, Canara Bank was founded by Shri Ammembal Subba Rao Pai, a great visionary and philanthropist, in July 1906, at Mangalore, then a small port town in Karnataka. Canara Bank is the third largest public sector bank in the country.  The Bank has gone through various phases of its growth trajectory over the hundred years of its existence. The growth of Canara Bank is phenomenal, especially after nationalization in the year 1969, attaining the status of a national level player in terms of geographical reach and clientele segments. In June 2006, the Bank completed a century of operation in the Indian banking industry. The eventful journey of the Bank has been characterized by several memorable milestones. Today, Canara Bank occupies a premier position in the comity of Indian banks.