Canara Bank raises FD rates by up to 100 bps

State-owned Canara Bank on Thursday raised fixed deposit rates by up to 1 per cent on select maturities.

However, the interest rate has been brought down by 0.5 per cent on one maturity slab (180-269 days) to 7.5 per cent from 8 per cent.

Interest rates on 1-2 years and 3-5 years fixed deposits have been raised by 0.55 per cent to 9.05 per cent, Canara Bank said in a statement.

Fixed deposits between 270 days and 1 year will earn 1 per cent higher interest. The new rate would be 9 per cent against existing rate of 8 per cent, it said.

Interest rate on 5-10 years deposits has been raised by 0.55 per cent to 9.05 per cent.

The new rates would be effective from Friday.