Canara bank provides decent interest rates to its investors for fixed deposits. For a year the maximum interest rate is 6.50 percent but for over a year, it's 6.30 and slightly lower than 6.20 in a few cases. If carefully observed, the interest rates are same for over 5 years.

The rates are even less in some cases as they approach the maximum tenure of 10 years, this is because of the estimation of repo rates which might fall in a few years.

Check Also: Dena bank Fixed deposit interest rates

So, the bank keeps the scope of these declining rates and puts the interest rates slightly low as a fallback security in long term cases ranging from 5 to 10 years. Interest Rates for Canara bank saving account is 3.50% for amount below 50 lakh and 4.00% for balance above 50 lakh same like other Indian Banks. The below interest rates are effective from 11 September, 2017.

canara bank fd interest rates

Canara Bank Fixed deposit interest rates 2018 (Domestic/NRO):

TIME PERIODINTEREST RATES (% p.a.)
For Deposits Below 1 CroreFor Deposits Above 1 Crore
7 Days to 14 Days 4.20%Contact Nearest Branch
15 Days to 30 Days 4.20%"
31 Days to 45 Days 4.50%"
46 Days to 60 Days 4.75%"
61 Days to 90 Days 4.75%"
91 Days to 180 Days 5.50-5.75%"
181 Days to 270 Days 6.35%"
271 Days to 1 Year 6.35%"
1 Year 6.50%"
1 Year to 2 Years 6.30%"
2 Years to 3 Years 6.20%"
3 Years to 5 Years 6.20%"
5 Years to 10 Years 6.00%"

Canara Bank NRE Term deposits Rates 2018:

 Deposit PeriodLess than 1 crore (%p.a.) Above 1 crore (%p.a.)
 1 Year 6.50%5.50%
 1 Year to 2 Years 6.30%4.90%
 2 Years to 3 Years 6.20%4.90%
 3 Years to 4 Years 6.20%4.90%
 4 Years to 5 Years 6.20%4.90%
 5 Years to 6 Years 6.00%4.90%
 6 Years to 7 Years 6.00%4.90%
 7 Years to 8 Years 6.00%4.90%
 8 Years to 9 Years 6.00%4.90%
9 Years to 10 Years 6.00%4.90%
 10 Years 6.00%4.90%

Updated: 6 January, 2018

From Tables, you can understand Canara Bank provides high interest rates for the duration above 6 months.

Important Notes:

  • Bank Offers 6.35% interest rate for periods of 444 days and 555 days under Canara Shikhar Deposit.
  • Bank Offers 6.00% interest rate for Canara Tax Saver Deposit scheme.
  • 1% penalty will be charged for premature withdrawal for both term and NRE deposits.

Canara Bank Fixed Deposit interest Calculator

Calculate Maturity Value Now


For more details regarding canara bank fixed deposit interest rates visit @ http://www.canarabank.com/english/quick-access/interest-rates/deposit-accounts-rates-at-a-quick-glance-as-per-rbi-format/

7 Comments

  1. I am a senior citizen and I want to invest Rs. 5 lakhs as FD account. I have also holding account in canara bank. Shall I apply for through net banking for FD voucher.

  2. Please give me more details about nre fd, i want to deposit 25 lakh from nre account to nre fd.

  3. i am not a member of canara bank. i am sr.citizen. if i want to purchase fd certificate on this bank what are the rules to be followed.

  4. RECENTLY CANARA BANK OPENED BRANCH AT KIIT SQUARE THERE IS A ADVERTISEMENT TO BECOME LAKHYAPATI,LIMITED PERIOD OFFER,LET ME KWOW ABOUT THE DETAIL SCHEME OFFERED BY THIS BRANCH,THANK YOU

  5. In the field of application, sr.citizen n Indian option is available,but ex employee option not incorporate. So, if I apply for a Fixed deposit online, i will not be eligible..for 1% +.50% benefit this moment.

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