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Canara Bank revises FD interest rates - Check new fixed deposit rates here

The Bank offers 5.25 % p.a. for Canara Tax Saver Deposit scheme (General Public). Maximum deposit acceptable is Rs 1.50 Lakh. The rate of interest is applicable to Recurring deposits also.

Canara Bank revises FD interest rates - Check new fixed deposit rates here

New Delhi: Canara bank has revised interest rates on its fixed deposit effective from August 09, 2021 on term deposits across maturities ranging from 7 days to 10 years for deposits less than Rs 2 crore. 

The Bank offers 5.25 % p.a. for Canara Tax Saver Deposit scheme (General Public). Maximum deposit acceptable is Rs 1.50 Lakh. The rate of interest is applicable to Recurring deposits also. (Also read: Fixed deposit alert! Axis Bank revises FD interest rates - new rates here)

Here are the new/revised interest rates on its Canara Bank Fixed Deposit.

 

Term Deposits (All Maturities) General Public Senior Citizen
Rate of Interest (% p.a.) Annualised Interest yield (% p.a.) ** Rate of Interest (% p.a.) # Annualised Interest yield (% p.a.) **
7 days to 45 days* 2.90 2.93% 2.90 2.93%
46 days to 90 days 3.90 3.96% 3.90 3.96%
91 days to 179 days 3.95 4.01% 3.95 4.01%
180 days to less than 1 Year 4.40 4.47% 4.90 4.99%
1 year only 5.10 5.20% 5.60 5.72%
Above 1 year to less than 2 years 5.10 5.20% 5.60 5.72%
2 years & above to less than 3 years 5.10 5.20% 5.60 5.72%
3 years & above to less than 5 years 5.25 5.35% 5.75 5.88%
Canara Unique “1111 Days” 5.35 5.46% 5.85 5.98%
5 years & above to 10 Years 5.25 5.35% 5.75 5.88%

(Source:https://canarabank.com/)

The Bank mentions following conditions on the Astrix and special characters:

Canara Unique Retail Term Deposit Scheme of “1111 Days” with additional rate of interest of 0.10% over and above the rate for the tenor of the deposit.

* Rates are applicable only for single deposit of Rs.5 Lakh & above. Minimum period for renewal of domestic/NRO term deposits is 7 days irrespective of the size of deposit. Below Rs.5 Lakh, Minimum tenor of deposit is 15 Days.

# Additional interest of 0.50% for Senior Citizens is to be made available for Deposits (Other than NRO/NRE and CGA Deposits) less than Rs. 2 Cr and with tenor of 180 Days and above.

** Approximate Annualized Yield in % terms at the beginning of the slab. Effective Annualized rate of return on Bank’s Re-investment Deposit Plan (Kamadhenu Deposit) is based on quarterly compounding of interest.

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