For savings accounts with a balance above Rs 100 crore, Canara Bank has increased the interest rates for savings accounts. The bank raised the savings account rate by 5 basis points for an outstanding balance of Rs 100 crore to less than Rs 500 crore, the bank is offering an interest rate of 3.10% after the hike. Canara Bank will now offer an interest rate of 3.40% on outstanding savings account balances of 500 crore to less than 1000 crore. The interest rate on savings account balances of Rs. 1,000 crore and above has been raised by the bank by 5 basis points to 3.55%. (These rates are in effect from June 29, 2022)
Table
Other banks’ savings account interest rates
and offer an interest rate of 3.00% on savings account deposits below Rs 50 lakh and 3.50% on deposits above Rs 50 lakh. offers a savings account interest rate of 2.70% on all accounts. For accounts with balance less than Rs. 10 lakh, gives 2.70%; for balances above Rs. 10 lakh, the interest rate is 2.75%.
