Canara Bank launches a special FIXED DEPOSIT scheme offering 7.5% interest rate; Check benefits, tenure and more

Public lender Canara Bank has unveiled a special fixed deposit scheme for a tenure of 666 days offering upto 7.5% interest rate. The plan is for the amount under Rs 2 crore.

New Delhi: Canara Bank has introduced a special fixed deposit scheme that provides 7.50% interest rate. The scheme has a tenure for 666 days. The bank under the scheme is offering a 7% interest rate for general customers, whereas senior citizens will get a 7.5% interest on this fixed deposit plan. This scheme is for the amount under Rs 2 crore.

Canara Bank has shared an infographic on its official Twitter handle informing about the launch of this new 666 days tenure scheme. It wrote, “Now get maximum returns on your investment! Presenting Canara Special Deposit Scheme that offers 7.50% interest by investing for 666 days.”

Canara Retail Utsav

Celebrating the festival season, Canara Bank is offering an attractive interest rate on Home loans and Car loans. Besides, the bank is also giving a full waiver on documentation and processing charges. Customers can apply online and get instant approval of the personal loans.

The benefits include: lower EMI, attractive interest rates and good customer support with a long-lasting relationship.

Canara Bank raises lending rates

The bank announced earlier to hike the Repo linked lending rate (RLLR) and Marginal Cost of Funds Based lending rate (MCLR) following the other banks. The revised rate was effective from October 7, 2022. The bank increased the MCLR and RLLR across all the tenors. It is to be noted that RBI hiked Repo rate a few days back by 50 basis points.