Fixed Deposits are one of the most popular modes of investment among the masses. FD schemes offered by Canara Bank provide attractive interest rates as well as returns.
Top Bank FD
|Maturity Period||Interest Rate for General Citizens (p.a.)||Interest Rate for Senior Citizens (p.a.)|
|7 days to 45 days||2.95%||2.95%|
|46 days to 90 days||3.90%||3.90%|
|91 days to 179 days||4.00%||4.00%|
|180 days to less than 1 year||4.45%||4.95%|
|Above 1 year to less than 3 years||5.20%||5.70%|
|2 years and above to less than 3 years||5.40%||5.90%|
|3 years and above to less than 5 years||5.50%||6.00%|
|5 years and above to 10 years||5.50%||6.00%|
Note: The mentioned interest rates are effective 8 February 2021.
Canara Bank has made it easy for NRIs to open a Fixed Deposit. Following FD options are available to NRIs:
You can either walk into the branch of the bank that is nearest to you or open an FD account online.
The minimum deposit amount required is Rs.1,000.
The fixed deposit interest rates in Canara Bank ranges from 2.95% p.a. to 5.50% p.a. for the general public and 2.95% p.a. to 6.00% p.a. for senior citizens.
You can get an interest rate of 5.50% p.a. for a tenure ranging from 3 years to 10 years for a general individual and an interest rate of 6.00% p.a. for the same tenure for senior citizens.
If you open an FD for Rs.1 lakh in Canara Bank for a tenure of 5 years, the interest rate currently is 5.50% p.a., which will get you an interest amount of Rs.30,000 in 5 years.
No, TDS is applicable on Canara Tax Saver Fixed Deposit.
The maturity period for Kamadhenu Deposits range between 15 months and 10 years.
No, one cannot secure a loan against Canara Tax Saver Term Deposit scheme.
Yes, Canara Bank is safe for fixed deposits. The principal and interest amount of fixed deposits are insured for up to Rs.1 lakh under the Deposit Insurance and Credit Guarantee Corporation (DICGC) as mandated by the Reserve Bank of India.
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