Report Wire - Canara Bank introduces particular FD scheme. Interest fee, tenure, different particulars

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Canara Bank introduces particular FD scheme. Interest fee, tenure, different particulars

2 min read
Canara Bank special FD scheme is offering 5.10 per cent interest rate per annum for public in general and 5.60 per cent annual interest rate for senior citizens.

Following Bank of India (BoI), Canara Bank has additionally launched particular fastened deposit (FD) scheme for public on the whole. This particular time period deposit scheme launched by the state-owned financial institution is for quantity under ₹2 crore. This particular Canara Bank FD scheme is legitimate until thirtieth September 2022 and the rate of interest supplied on this particular FD scheme is 5.10 per cent each year. If the investor is a senior citizen then an extra 50 bps rate of interest will likely be given.

Announcing about particular FD scheme, Canara Bank issued a press assertion citing, “Canara Bank has introduced a new Term Deposit Scheme for a period of 333 days for its customers. The special scheme is available for deposits of less than Rs. 2 crore. This scheme is valid till 30.09.2022 with an interest rate of 5.10% p.a. for General Public and 5.60% p.a. for senior Citizens.”

Here we listing out essential particulars in regard to this particular FD scheme launched by the Canara Bank:

1] Tenure: This particular FD scheme is obtainable for a tenure of 333 days.

2] Deadline: Those fascinated by scheme can open FD account by thirtieth September 2022.

3] FD rate of interest: This particular time period deposit scheme launched by the Canara Bank affords an annual rate of interest of 5.10 per cent for public on the whole whereas senior residents will get 5.60 per cent annual return on their cash.

On Thursday, Bank of India had launched a 444 days particular time period deposit scheme providing 5.50 per cent rate of interest each year for public on the whole and 6 per cent rate of interest each year for senior residents. While asserting the launch of this particular FD scheme, Bank of India stated that the time period deposit was launched on account of the Bank’s ensuing 117th Foundation Day to be celebrated on seventh Sept 2022. The scheme is on the market on the financial institution’s all branches and on-line platforms together with web banking and BOI Mobile App. However, this particular time period deposit supply is legitimate for a selected interval. Also, the financial institution has hiked its ROI as much as 40 foundation factors on time period deposits of assorted tenures.

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