Canara Bank offers various types of Fixed Deposit schemes to both regular individuals and senior citizens. The interest rate depends upon the period of the deposit ranging from 7 days to 120 months. However, customers can invest a minimum amount of Rs. 1,000 in a Canara Bank Fixed Deposit and earn higher FD interest rates.
Rate of Interest on Fixed Deposits of less than Rs. 2 crore
| FD Tenure | Canara Bank FD Interest Rates (p.a.) | |
| Regular Citizens | Senior Citizens | |
| 7 days to 14 days * | 4.50% | 5.00% |
| 15 days to 30 days | 4.50% | 5.00% |
| 31 days to 45 days | 4.50% | 5.00% |
| 46 days to 60 days | 5.50% | 6.00% |
| 61 days to 90 days | 5.50% | 6.00% |
| 91 days to 120 days | 5.50% | 6.00% |
| 121 days to 179 days | 5.50% | 6.00% |
| 180 days to 269 days | 5.95% | 6.45% |
| 270 days to less than 1 year | 5.95% | 6.45% |
| 1 year only | 6.40% | 6.90% |
| Above 1 year to less than 2 years | 6.00% | 6.50% |
| 2 years & above to less than 3 years | 6.00% | 6.50% |
| 3 years & above to less than 5 years | 6.25% | 6.75% |
| 5 years & above to less than 8 years | 6.25% | 6.75% |
| 8 years & above to 10 years | 6.25% | 6.75% |
| 111 days (Canara Khazana Deposit) | 5.50% | 6.00% |
| 222 days (Canara Khazana Deposit) | 5.95% | 6.45% |
| 333 days (Canara Khazana Deposit) | 5.95% | 6.45% |
| 444 Days (Canara Shikhar Deposit) | 6.00% | 6.50% |
| 555 Days (Canara Shikhar Deposit) | 6.00% | 6.50% |
*Rates applicable only for single deposit of Rs.5 lakhs & above. Rates w.e.f. November 19, 2019
Note – For term deposits of Rs. 2 crore and above, contact your nearest Canara Bank branch.
| Tenure | Fixed Deposit of less than Rs. 2 crore |
| 1 year | 6.50% |
| Above 1 year to less than 2 years | 6.00% |
| 2 years & above to less than 3 years | 6.00% |
| 3 years & above to less than 5 years | 6.25% |
| 5 years & above to less than 8 years | 6.25% |
| 8 years & above to 10 years | 6.25% |
| 444 days (Canara Shikhar Deposit) | 6.25% |
| 555 days (Canara Shikhar Deposit) | 6.25% |
Note:
| Interest rates on FCNR (B) % p.a. | |||||
| Currency | 1 Year and above but less than 2 years | 2 years and above but less than 3 years | 3 years and above but less than 4 years | 4 years and above but less than 5 years | Five years only |
| USD | 2.65 | 2.39 | 2.17 | 2.12 | 2.09 |
| GBP | 1.17 | 1.15 | 1.12 | 1.10 | 1.09 |
| EUR | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 |
| CAD | 3.00 | 2.15 | 2.09 | 2.06 | 2.03 |
| AUD | 1.34 | 1.23 | 1.23 | 1.32 | 1.36 |
Note – Interest rates applicable w.e.f. 01.09.2019 to 30.09.2019, For interest rate on FCNR deposits of USD 1 Million & above (or its equivalent in other currencies) please contact your nearest Canara Bank branch. All figures in % per annum, For term deposits of Rs. 2 crore and above, contact the nearest Canara Bank branch.
| Interest rates on RFC Deposits (Interest rate % per annum) | |||||
| Period of Deposit | Currency of deposit (Interest Rate % per annum) | ||||
| USD | GBP | EUR | CAD | AUD | |
| 1 month & above but less than 3 months | 1.93 | 0.64 | NIL | 1.41 | 1.01 |
| 3 months & above but less than 6 months | 1.92 | 0.60 | NIL | 1.59 | 0.70 |
| 6 months & above but less than 1 year | 1.87 | 0.56 | 0.03 | 1.64 | 0.75 |
| 1 year & above but less than 2 years | 2.65 | 1.17 | 0.01 | 3.00 | 1.34 |
| 2 years & above but less than 3 years | 2.39 | 1.15 | 0.00 | 2.15 | 1.23 |
| 3 years only | 2.17 | 1.12 | 0.00 | 2.09 | 1.23 |
Note- The above interest rates are applicable for RFC deposits of amount less than USD 1 Million (or its equivalent in other currencies) only.
For RFC deposits of USD 1 Million & above (or its equivalent in other currencies) please contact the nearest Canara Bank branch. All figures in % per annum.
Canara Bank has the following types of Fixed Deposit Schemes:
1. Canara Bank Fixed Deposit Scheme
Features
Eligibility Criteria
2. Canara Bank Kamadhenu Deposit Scheme (Re-Investment Plan)
Features
Eligibility Criteria
3. Canara Bank Tax Saver Deposit Scheme
Features
Eligibility Criteria
Individual/Single Account –
Joint Account –
4. Canara Bank Ashraya Deposit Scheme (For Senior Citizens)
Features
Eligibility Criteria
Canara Bank Premature Withdrawal facility enables the depositor to withdraw the fixed deposit amount before the deposit tenure ends. Fixed Deposit is classified into two types:
However, individuals with Canara Bank FD account need to pay a 1% penalty on premature withdrawal.
Canara Bank provides its customers with the facility of Loan against fixed deposit up to 90% of the value of their fixed deposit at attractive interest rates. Customers are not required to pay the penalty or lose out on the interest. Moreover, it helps to maintain the fixed deposits and avail cash for urgent financial needs.
Investors can check the maturity amount of the scheme by using the Canara Bank FD Calculator on Paisabazaar. Also, Canara Bank FD Interests Rates varies for different tenure options. So, the investors can also opt for a specific tenure option by providing the Canara Bank FD Rates, deposit amount and tenure and calculating the potential earning. In case of reinvestment schemes, investors can check the interest and the maturity amount by using the compound interest calculator.
Moreover, using Canara Bank FD calculator, account holders can check and compare Canara Bank FD Interest Rates with other banks as well.
Following documents are required for Canara Bank Fixed Deposit:
Customers can apply for Canara Bank Fixed Deposit by visiting the nearest bank branch. For further information, customers can also contact the Canara Bank Customer Care Number. click here
Q. What is the tenure of Canara Bank Tax Saver Deposit Scheme?
A. Canara Bank Tax Saver Deposit Scheme comes with a lock-in period of 5 years.
Q. What is the highest FD rate offered by Canara Bank?
A. The highest FD rate offered by Canara Bank is 6.50% p.a. to regular individuals and 7% p.a. to senior citizens.
Q. Are there any preferential rates offered to senior citizens?
A. Yes, Canara Bank offers 0.50% higher FD interest rates to senior citizens across all maturities.
Q. Is a loan facility available against FD account at Canara Bank?
A. Yes, a loan facility available against FD account at Canara Bank. Account holders can avail up to 90% loan against their fixed deposit amount.
Q. What is the minimum amount an account holder can keep in Canara Bank fixed deposit account?
A. The minimum amount an account holder can keep in Canara Bank fixed deposit account is Rs. 1,000.
Q. What is Canara Bank Customer Care Number?
A. Canara Bank’s customer Care Number is 1800 425 0018.
| Canara Bank Revises Fixed Deposit Rates |
| 5th September, 2019 Canara Bank has once again revised its fixed deposit rates across various maturities for deposits which are less than 2 crore with effect from 30th August 2019. The bank continues to provide 0.50% interest rate to the senior citizens. The highest Canara Bank FD interest rate is 6.25% for regular citizens and 6.75% for senior citizens. |
| Canara Bank Revises Fixed Deposit Rates |
| 19th August, 2019 Canara Bank has revised its fixed deposit rates across various maturities for deposits which are less than 2 crore with effect from 9th August 2019. The bank is offering an interest rate from 5.00% to 6.50% for a period of 7 days to 10 years. Canara bank is providing the highest interest rate of 6.50% for a period of 1 year to less than 3 years for regular citizens and 7.00% for senior citizens. |