20.1 C
New York
HomeBusinessCanara Bank hikes interest rate on FDs: Know How it Compares to...

Canara Bank hikes interest rate on FDs: Know How it Compares to SBI, HDFC and Others

Bank fixed deposit schemes have been the most favoured investment over other investment tools in the market. While the trend of stock investment and mutual funds has been on a rise in the past few years, FDs still remains the go-to option for risk-averse investors in the market. Unlike equity and mutual funds where the returns depend on market fluctuation, FDs offer a guaranteed stable rate of return. The stability factor has made FDs a preferred choice for people to keep their hard-earned money safe while expecting some return in the process.

Canara Bank has become the latest bank in the country to increase the interest rate offered to customers on their fixed deposit investments. The state-owned lender has increased the interest rates on fixed deposits by 0.25 per cent or 25 basis points.

Investors will receive interest at 2.90 per cent for fixed deposit investments maturing in seven to 45 days. The bank will offer an interest rate of 3.90 per cent on FD investments maturing in 46 days to 90 days.

Moreover, Canara Bank will offer an interest rate of 4.40 per cent for FDs with a maturity period of 180 days or less. Also, customers can get an interest rate of 5.20 per cent on FDs with a term period of 2 to 3 years.

Here are the revised interest rates on fixed deposits below Rs 2 crore at the State Bank of India from January 20, 2022:

7 days to 45 days: For General Public – 2.90 per cent; For Senior Cittizens – 3.40 per cent

46 days to 179 days: For General Public – 3.90 per cent For Senior Cittizens – 4.40 per cent

180 days to 210 days: For General Public – 4.40 per cent For Senior Cittizens – 4.90 per cent

211 days to less than 1 year: For General Public – 4.40 per cent For Senior Cittizens – 4.90 per cent

1 year to less than 2 years: For General Public – 5.10 per cent For Senior Cittizens – 5.60 per cent

2 years to less than 3 years: For General Public – 5.10 per cent For Senior Cittizens – 5.60 per cent

3 years to less than 5 years: For General Public – 5.30 per cent For Senior Cittizens – 5.80 per cent

5 years and up to 10 years: For General Public – 5.40 per cent For Senior Cittizens – 6.20 per cent

Bank of Baroda Latest FD Interest Rates (below Rs 2 crore) for General Public

7 days to 14 days:  For General Public – 2.80 per cent; For Senior Citizens – 3.30 per cent

15 days to 29 days: For General Public – 2.80 per cent; For Senior Citizens – 3.00 per cent

30 days to 45 days: For General Public – 3.70 per cent; For Senior Citizens – 3.50 per cent

46 days to 60 days: For General Public – 3.70 per cent; For Senior Citizens – 3.50 per cent

61 days to 90 days: For General Public – 3.00 per cent; For Senior Citizens – 3.50 per cent

91 days to 120 days: For General Public – 3.50 per cent; For Senior Citizens – 4.00 per cent

6 months 1 days to 9 months: For General Public – 4.30 per cent; For Senior Citizens – 4.80 per cent

9 months 1 day to less than a year: For General Public – 4.40 per cent; For Senior Citizens – 4.90 per cent

1 year: For General Public – 5.00 per cent; For Senior Citizens – 5.50 per cent

1 year 1 day to 2 years: For General Public – 5.10 per cent; For Senior Citizens – 5.60 per cent

2 years 1 day to 3 years: For General Public – 5.10 per cent; For Senior Citizens – 5.60 per cent

3 years 1 day to 5 years: For General Public – 5.25 per cent; For Senior Citizens – 5.75 per cent

5 years 1 day to 10 years: For General Public – 5.25 per cent; For Senior Citizens – 5.75 per cent

Above 10 years (for MACT/MACAD Court Order schemes only): For General Public – 5.10

Here are the revised interest rates on fixed deposits below Rs 2 crore at the HDFC Bank from February 14, 2022:

7 days to 14 days: For General Public – 2.50 per cent; For Senior Citizens – 3.00 per cent

15 days to 29 days: For General Public – 2.50 per cent; For Senior Citizens – 3.00 per cent

30 days to 45 days: For General Public – 3.00 per cent; For Senior Citizens – 3.50 per cent

46 days to 60 days: For General Public – 3.00 per cent; For Senior Citizens – 3.50 per cent

61 days to 90 days: For General Public – 3.00 per cent; For Senior Citizens – 3.50 per cent

91 days to 120 days: For General Public – 3.50 per cent; For Senior Citizens – 4.00 per cent

6 months 1 days to 9 months: For General Public – 4.40 per cent; For Senior Citizens – 4.90 per cent

9 months 1 day to less than a year: For General Public – 4.40 per cent; For Senior Citizens – 4.90 per cent

1 year: For General Public – 5.00 per cent; For Senior Citizens – 5.50 per cent

1 year 1 day to 2 years: For General Public – 5.00 per cent; For Senior Citizens – 5.50 per cent

2 years 1 day to 3 years: For General Public – 5.20 per cent; For Senior Citizens – 5.70 per cent

3 years 1 day to 5 years: For General Public – 5.45 per cent; For Senior Citizens – 5.95 per cent

5 years 1 day to 10 years: For General Public – 5.60 per cent; For Senior Citizens – 6.35 per cent

Here are the revised interest rates on fixed deposits below Rs 2 crore at the ICICI Bank from January 20, 2022:

7 days to 14 days: For General Public – 2.50 per cent; For Senior Citizens – 3.00 per cent

15 days to 29 days: For General Public – 2.50 per cent; For Senior Citizens – 3.00 per cent

30 days to 45 days: For General Public – 3.00 per cent; For Senior Citizens –  3.50 per cent

46 days to 60 days: For General Public – 3.00 per cent; For Senior Citizens – 3.50 per cent

61 days to 90 days: For General Public – 3.00 per cent; For Senior Citizens – 3.50 per cent

91 days to 120 days: For General Public – 3.50 per cent; For Senior Citizens – 4.00 per cent

121 days to 150 days: For General Public – 3.50 per cent; For Senior Citizens – 4.00 per cent

151 days to 184 days: For General Public – 3.50 per cent; For Senior Citizens – 4.00 per cent

185 days to 210 days: For General Public – 4.40 per cent; For Senior Citizens – 4.90 per cent

211 days to 270 days: For General Public – 4.40 per cent; For Senior Citizens – 4.90 per cent

271 days to 289 days: For General Public – 4.40 per cent; For Senior Citizens – 4.90 per cent

290 days to less than 1 year: For General Public – 4.40 per cent; For Senior Citizens – 4.90 per cent

1 year to 389 days: For General Public – 5.00 per cent; For Senior Citizens – 5.50 per cent

390 days to less than 15 months: For General Public – 5.00 per cent; For Senior Citizens – 5.50 per cent

15 months to less than 18 months: For General Public – 5.00 per cent; For Senior Citizens – 5.50 per cent

18 months to 2 years: For General Public – 5.00 per cent; For Senior Citizens – 5.50 per cent

2 years 1 day to 3 years: For General Public – 5.20 per cent; For Senior Citizens – 5.70 per cent

3 years 1 day to 5 years: For General Public – 5.45 per cent; For Senior Citizens – 5.95 per cent

5 years 1 day to 10 years: For General Public – 5.60 per cent; For Senior Citizens – 6.35 per cent

5 Years (80C FD) – Max to `1.50 lac: For General Public – 5.45 per cent; For Senior Citizens – 5.95 per cent

Read all the Latest News, Breaking News and Assembly Elections Live Updates here.

Stay Connected
16,985FansLike
52,146FollowersFollow
2,458FollowersFollow
spot_img
Must Read
You might also like

LEAVE A REPLY

Please enter your comment!
Please enter your name here