Bank India — Indian Banks News & Tutorials

Canara bank provides decent interest rates to its investors for fixed deposits. For a year the maximum interest rate is 7.75 percent but for over a year, it’s 7.75 and slightly lower than 7.75 in a few cases. If carefully observed, the interest rates are less 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 4% same like other Indian Banks. The below interest rates are effective from 3 October, 2015.

canara bank fd interest rates

Full Table Canara Bank Fixed deposit interest rates (Domestic):

TIME PERIODINTEREST RATES (% p.a.)
For Deposits Below 1 CroreFor Deposits Above 1 Crore
7 – 14 Days4.004.50
15 – 30 Days4.504.50
31 – 45 Days5.505.50
46 – 60 Days6.256.00
61 – 90 Days6.506.50
91 Days – 180 Days6.756.60-6.75
181 Days – 270 days7.506.75
271 Days – 1 year7.757.00
1 Year – 2 Years7.757.25
2 Years – 3 Years7.757.25
3 Years – 5 Years7.757.00
5 Years – 10 Years7.507.00

NRO/NRE Term deposits Rates:

 Deposit PeriodLess than 1 crore (%p.a.) Above 1 crore (%p.a.)
 1 year 7.75 7.25
 1-2 years7.757.25
 2-3 years7.757.25
 3-4 years7.757.00
 4-5 years7.757.00
 5-6 years 7.507.00
 6-7 years7.507.00
 7-8 years7.507.00
 8-9 years7.507.00
9-10 years7.507.00
 10 years7.507.00

Updated: 1 April, 2016

Calculate Maturity amount

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

Important Notes:

  • Bank Offers 7.85% interest rate for periods of 444 days and 555 days under Canara Shikhar Deposit.
  • Bank Offers 7.50% interest rate for Canara Tax Saver Deposit scheme.
  • 1% penalty will be charged for premature withdrawal for bothe term and NRE deposits.

For more details regarding canara bank fixed deposit interest rates visit @ http://www.canarabank.com/english/Scripts/DepositAccounts.aspx

7 Comments

  1. 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.

  2. 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

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

  5. 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.

Leave a Reply

Your email address will not be published.


*