Canara Bank Flexi Fixed Deposit
Canara Bank Flexi Fixed Deposit is a clever deposit option that allows you to earn higher rates on your extra cash while maintaining liquidity. It permits withdrawals in multiples of Rs.1,000 if your savings account drops below the specified threshold.
Canara Bank Flexi Fixed Deposit Interest Rates
Given below are the interest rates provided by Canara Bank Flexi Fixed Deposit:
Tenure | Rate of InterestGeneral (p.a.) | Rate of InterestSenior Citizen (p.a.) |
7 days to 45 days | 3.03% | 3.03% |
46 days to 90 days | 4.06% | 4.06% |
91 days to 179 days | 4.32% | 4.32% |
180 days to 269 days | 5.35% | 5.87% |
270 days to less than 1 year | 5.61% | 6.14% |
1 year to 1 year 3 months | 6.40% | 6.92% |
444 days | 6.60% | 7.13% |
555 days | 6.66% | 7.19% |
Above 1 year, 3 months to less than 2 years | 6.40% | 6.92% |
2 years to less than 3 years | 6.40% | 6.92% |
3 years to less than 5 years | 6.40% | 6.92% |
5 years to 10 years | 6.40% | 6.92% |
Note: The interest rates mentioned in the above table are effective from 5 January 2026.
How to Open a Canara Bank Flexi Fixed Deposit
To open a Canara Bank Flexi fixed deposit, you must follow the steps given below:
Online Process
If you are currently using Net Banking or the Canara ai1 mobile app, you can make an online booking for a Canara Bank Flexi Fixed Deposit.
- Use your login information to access your Canara Bank Net Banking account or use the Canara AI1 app. Navigate to Fixed Deposit, tap Term Deposit/Fixed Deposit, and then choose Open FD
- Choose your account and input the amount, which starts at Rs.1,000
- Select a deposit type from the list, such as 'Kamadhenu' (reinvestment) or 'Ashraya' (regular)
- Choose between auto-renewal, interest payout frequency, or payout at maturity
- Verify every detail, agree to the terms and conditions, and send in the form
- Instantaneously create and print the term deposit receipt (e-TDR).
Offline Process
If you prefer an offline method, you can make a fixed deposit with the flexi option at your nearest Canara Bank branch.
- Bring a check or cash and your PAN or Aadhaar to Canara Bank branch
- Complete the Term Deposit form at any Canara Bank branch
- If you are a new customer, submit the necessary KYC documents
- Pay the FD amount (minimum Rs.1,000) in cash, by check, or digitally
- Select the frequency of interest payments and the tenure (7 days to 10 years)
- As proof, Canara Bank will provide a Term Deposit Receipt (TDR).
Features of Canara Bank Flexi Fixed Deposit
The Canara Bank Flexi Fixed Deposit has various useful features such as:
- Savings account surpluses get higher FD return with a Canara Bank Flexi Fixed Deposit. The interest rate might rise to 6.60% for regular consumers and 7.10% for senior citizens
- It takes very little documents to open a Flexi Fixed Deposit Canara Bank account. You can open it either online through internet banking or the Canara ai1 app, or in person at a branch
- When it comes to selecting the deposit duration, Canara Bank provides flexibility. You can choose a tenure that meets your financial objectives, whether short- or long-term
- If your savings account falls below the specified level, funds are automatically withdrawn from your Flexi Fixed Deposit, allowing convenient access whenever needed.
FAQs
- Can I change the threshold limit on my Canara Bank Flexi Fixed Deposit later?
Can I change the threshold limit on my Canara Bank Flexi Fixed Deposit later?
- Does the Canara Bank Flexi Fixed Deposit qualify for TDS?
Yes, Tax Deducted at Source (TDS) may be charged on interest generated under the Income Tax Act. If you provide your PAN card while opening the deposit you made, you will not be charged with a higher TDS rate.
- Is it possible to open a Tax Saving Fixed Deposit at Canara Bank as a Flexi FD?
No, Tax Saving Fixed Deposits at Canara Bank cannot be opened as Flexi FDs because they have a fixed 5-year commitment period and do not allow sweep-in or partial withdrawals.
- What is Canara Bank's Flexi Fixed Deposit?
The Canara Bank Flexi Fixed Deposit is a hybrid of a savings account and a fixed deposit in which excess money is automatically moved into an FD to maintain availability and earn higher interest rates.
- What is the minimum amount needed to start a Flexi Fixed Deposit with Canara Bank?
The minimum sweep value is typically Rs.1,000 (or as indicated by the bank), and the minimum balance is determined by the customer at the time of account activation.
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