Canara bank provides decent interest rates to its investors for fixed deposits. For a year the maximum interest rate is 6.90 percent but for over a year, it’s 6.90 and slightly lower than 6.90 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 4% same like other Indian Banks. The below interest rates are effective from 5 January, 2017.

canara bank fd interest rates

Canara Bank Fixed deposit interest rates 2017 (Domestic/NRO):

TIME PERIODINTEREST RATES (% p.a.)
For Deposits Below 1 CroreFor Deposits Above 1 Crore
7 Days to 14 Days 4.20% 4.00%
15 Days to 30 Days 4.20% 4.00%
31 Days to 45 Days 4.50% 4.00%
46 Days to 60 Days 4.75% 4.25%
61 Days to 90 Days 4.75% 4.25%
91 Days to 180 Days 5.50-5.75% 4.25-4.75%
181 Days to 270 Days 6.50% 4.75%
271 Days to 1 Year 6.50% 4.75%
1 Year to 2 Years 6.90% 4.90%
2 Years to 3 Years 6.90% 4.90%
3 Years to 5 Years 6.90% 4.90%
5 Years to 10 Years 6.90% 4.90%

Canara Bank NRE Term deposits Rates 2017:

 Deposit PeriodLess than 1 crore (%p.a.) Above 1 crore (%p.a.)
 1 Year 6.90% 4.85%
 1 Year to 2 Years 6.90% 4.90%
 2 Years to 3 Years 6.90% 4.90%
 3 Years to 4 Years 6.90% 4.90%
 4 Years to 5 Years 6.90% 4.90%
 5 Years to 6 Years 6.90% 4.90%
 6 Years to 7 Years 6.90% 4.90%
 7 Years to 8 Years 6.90% 4.90%
 8 Years to 9 Years 6.90% 4.90%
9 Years to 10 Years 6.90% 4.90%
 10 Years 6.90% 4.90%

Updated: 7 Febrauary, 2017

Calculate Maturity amount

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

Important Notes:

  • Bank Offers 6.95% interest rate for periods of 444 days and 555 days under Canara Shikhar Deposit.
  • Bank Offers 6.90% interest rate for Canara Tax Saver Deposit scheme.
  • 1% penalty will be charged for premature withdrawal for both term and NRE deposits.

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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