Canara Bank has revised fixed deposit interest rates for amounts below Rs 3 crore. According to the bank’s website, the new rates are effective from December 1, 2024. After the revision, the bank offers interest rates between 4% and 7.40% for the general public and 4% and 7.90% for senior citizens on callable deposits.
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Latest Canara Bank FD rates
The bank is now offering 4% interest on deposits maturing between 7 and 45 days, and 5.25% interest on deposits maturing between 46 and 90 days. Canara Bank currently offers 5.5% interest on deposits maturing in 91 to 179 days and 6.25% interest on term deposits maturing between 180 and 269 days.
Deposits maturing between 270 days and less than a year now earn a 6.25% interest rate. Fixed deposits maturing in one year will earn a 6.85% interest rate. The bank offers an interest rate of 7.25% on deposits maturing in 444 days.
The bank offers an interest rate of 6.85% on deposits maturing between more than one year and less than two years. Fixed deposits maturing between more than two years and less than three years, will earn a 7.30% interest rate at Canara Bank.
After the revision, the bank offers the highest interest rate of 7.40% on FDs maturing between more than three years and less than five years.
Fixed deposits maturing between five years and less than 10 years, the bank offers a 6.70% interest rate at Canara Bank.
| Term Deposits (All Maturities) | General Public |
| Rate of Interest (% p.a.) | |
| 7 Days to 45 Days | 4 |
| 46 Days to 90 Days | 5.25 |
| 91 Days to 179 Days | 5.5 |
| 180 Days to 269 Days | 6.15 |
| 270 Days to less than 1 Year | 6.25 |
| 1 Year Only | 6.85 |
| 444 Days | 7.25 |
| Above 1 Year to less than 2 Years | 6.85 |
| 2 Years & above to less than 3 Years | 7.3 |
| 3 Years & above to less than 5 Years | 7.4 |
| 5 Years & above to 10 Years | 6.7 |
Canara Bank senior citizen FD interest rate
After the revision, the bank will offer interest rates between 4% and 7.90% for senior citizens on callable deposits for tenure ranging from seven days to 10 years.
According to the Canara Bank website, “Additional interest of 0.50% for Senior Citizens is available for Deposits (Other than NRO/NRE and CGA Deposits) less than Rs. 3 Cr and with the tenor of 180 Days and above.”
| Term Deposits (All Maturities) | Senior Citizen |
| Rate of Interest (% p.a.) # | |
| 7 Days to 45 Days | 4 |
| 46 Days to 90 Days | 5.25 |
| 91 Days to 179 Days | 5.5 |
| 180 Days to 269 Days | 6.65 |
| 270 Days to less than 1 Year | 6.75 |
| 1 Year Only | 7.35 |
| 444 Days | 7.75 |
| Above 1 Year to less than 2 Years | 7.35 |
| 2 Years & above to less than 3 Years | 7.8 |
| 3 Years & above to less than 5 Years | 7.9 |
| 5 Years & above to 10 Years | 7.2 |
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Super senior citizens
As per the Canara Bank website, “Additional rate of interest 0.60% for Super Senior Citizen(80 years and above) is introduced under Canara-444 product only i.e. 7.85% for callable deposits and 8% for non-callable deposits.”
FD premature withdrawal penalty
As per the Canara Bank website, “A penalty of 1.00% shall be levied for premature closure/part withdrawal/ premature extension of Domestic/NRO term deposits of less than Rs.3 Crore that are accepted /renewed on or after 12.03.2019. For premature closure/part withdrawal/premature extension of Domestic/NRO term deposits, the Bank imposes a penalty of 1.00%. Such prematurely closed/part withdrawn/prematurely extended deposits will earn interest at 1.00% below the rate as applicable for the relevant amount slab as ruling on the date of deposit and as applicable for the period run OR 1.00% below the rate at which the deposit has been accepted, whichever is lower.” However, no interest will be payable on term deposits prematurely closed/prematurely extended before completion of the 7th day.
