Bangalore: Today, Canara Bank annunciated the modified rates of interest on domestic term deposits for two years to below five years maturity period, effective from today.

According to a bank release the altered interest rate for term of two years to less than three years would be 8.25 per cent and for a period of three years to below five years would be 8.50 per cent.

The release also said that the interest rates on special deposit scheme would remain unaltered.

Canara Bank was established in 1906. At first, the bank was named as ‘Canara Bank Hindu Permanent Fund’. It blossomed out into a limited company in 1910 and was called as 'Canara Bank Ltd'. In 1969 the Bank become public sector bank and called as ‘Canara Bank.’

At present, the bank has a total network of 2513 branches spread all through the country. It was the first bank to be conferred FICCI reward for contribution to rural growth, and also the first among banks to start networked ATMs and get hold of ISO Certification.