Canara Bank Revises Interest Rates By .25%

Bangalore, July 29: | Updated: Jul 30 2002, 05:30am hrs
Canara Bank has revised interest rates on domestic term and NRE term deposits by 0.25 per cent to 0.50 per cent with effect from August1.

The revised interest rate schedule for deposits of less than Rs. 15 lakh is: 15-45 days- 4.25; 46-90 days - 5; 91-179 days - 6; 180 days to less than one year - 6.50; one year to less than two years - 7; two years to less than three years - 7.25 per cent; three years and above - 7.50. For senior citizens, interest rates on term deposits would be one per cent over the rates applicable for domestic term deposits, a Canara bank release said.

For NRE deposits, the revised interest schedule is: 6 months and above to less than 1 year - 6.50; 1 year & above to less than 2 years - 7; 2 years & above to less than 3 years - 7.25; 3 years and above - 7.50. The bank also offers differential interest rate of 0.25 per cent on term deposits of Rs 15 lakh and above to less than Rs 1 crore for all maturities.

PTI