Canara bank provides decent interest rates to its investors for fixed deposits. For a year the maximum interest rate is 7.00 percent but for over a year, it’s 6.70 and slightly lower than 6.20 in a few cases. If carefully observed, the interest rates are the 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 the amount below 50 lakh and 4.00% for balance above 50 lakh same like other Indian Banks. The below interest rates are effective from 1 November 2018.

canara bank fd interest rates

Canara Bank Fixed deposit interest rates Feb 2019 (Domestic/NRO):

TIME PERIOD INTEREST RATES (% p.a.)
For Deposits Below 1 Crore For Deposits Above 1 Crore
7 Days to 14 Days  5.75% Contact Nearest Branch
15 Days to 30 Days  5.75%
31 Days to 45 Days  5.75%
46 Days to 60 Days  6.25%
61 Days to 90 Days  6.25%
91 Days to 180 Days  6.25%
181 Days to 270 Days  6.35%
271 Days to 1 Year  6.40%
1 Year  7.00%
1 Year to 2 Years  7.00%
2 Years to 3 Years  6.70%
3 Years to 5 Years  6.20%
5 Years to 10 Years  6.20%

Canara Bank NRE Term deposits Rate Feb 2019:

 Deposit Period Less than 1 crore (%p.a.)  Above 1 crore (%p.a.)
 1 Year  7.00% Contact Branch
 1 Year to 2 Years  7.00%
 2 Years to 3 Years  6.70%
 3 Years to 4 Years  6.20%
 4 Years to 5 Years  6.20%
 5 Years to 6 Years  6.20%
 6 Years to 7 Years  6.20%
 7 Years to 8 Years  6.20%
 8 Years to 9 Years  6.20%
9 Years to 10 Years  6.20%
 10 Years  6.20%

Updated: 31 January 2019

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

Important Notes:

  • Bank Offers 7.05% interest rate for periods of 444 days and 555 days under Canara Shikhar Deposit.
  • Bank Offers 6.20% 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

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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/

8 Comments

  1. Would like to deposit 842000 in Canara bank for 1 year, I don’t have an account with them. How can I deposit?

  2. 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.

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

  4. 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.

  5. 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

  6. 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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