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Canara Bank raises deposit rates

Canara Bank has hiked its interest rates by 25 to 50 basis points for term deposits for different tenors with effect from August 19, 2008.

18 Aug 2008

Canara Bank is set to  increase its interest rates by 25 to 50 basis points for term deposits for different tenors, the change  effective from Aug 19.

The interest on deposits for periods from one year and up to 499 days has been increased by 25 basis points to 9.75 percent, deposits more than 500 days and up to two years by 50 basis points to 10 per cent and deposits above two years and less than three years by 25 basis points to 9.75 percent.

Deposits for a tenure of three years to less than five years and that of those above a tenure of five years have an interest rate of  9.50 per cent, up by 50 basis points.

Senior citizens will get an additional interest rate of 0.50 percent on the revised rates.



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