Bangalore-based public sector lender, Canara Bank, today revised upwards its interest rates on domestic term deposits by 50 basis points for the period ranging from 91 days and above to 2 years with effect from October 10.
The revised interest rate for tenors 91 days and above to 179 days -- from 7 per cent to 7.50 per cent, 180 days to less than 1 year -- from 8.25 per cent to 8.75 per cent. Deposits of one year and above to 499 days -- from 9.75 per cent to 10 per cent and 500 days to 2 years -- from 10 per cent to 10.50 per cent.
The bank is also offering 0.50 per cent more for senior citizens on the revised rates, the bank said in a release.