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Bangalore, July 31

Canara Bank has revised rates of interest downwards to 9 per cent on the branded Centenary Deposit Scheme with immediate effect. The scheme, introduced in March, was for raising one-year deposits. The bank had then offered an interest rate of 9.5 per cent. Syndicate Bank also reduced the interest rates on its branded deposit products, Synd400 and Synd500. The revised rates are 8.9 per cent, down from 9.5 per cent, and 9 per cent, down from 9.6 per cent, respectively. The rate reduction followed the RBI credit policy review that left the interest rates unchanged. —

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