• Canara Bank Kamadhenu Deposit

    This is a reinvestment plan from Canara Bank that provides a safe and flexible deposit option to customers. The scheme also offers preferential interest rates so that you get the most out of your deposits. There are flexible tenure and deposit limits as well as the option to opt for part withdrawals at contracted interest rates for better liquidity.

    Eligibility criteria for Canara Bank Kamadhenu Deposit

    Any individual, either singly or jointly with a maximum of 4 members, guardian on behalf of minor, partnership, HUF, companies are other such institutions are eligible to open the Kamadhenu Deposit with Canara Bank.

    Features of Canara Bank Kamadhenu Deposit

    Account Type Single/Joint
    Amount Min – Rs.1,000

    Max – No limit

    Rate of Interest Min – 6.75%

    Max – 7.75%

    Period/Tenure Min – 5 months

    Max – 120 months

    TDS TDS applicable as per regulations from the Income Tax department.
    Loan against Canara Bank Kamadhenu Deposit Loans available up to 90% of the value of the deposit
    Nomination Nomination facility available
    Auto Renewal Yes, at the same rate of interest as on the date of maturity, unless otherwise stated

    Canara Bank Kamadhenu Deposit interest rates

    This scheme offers competitive interest rates*. Added with the reinvestment plan, the overall annualized yield of the deposit tends to touch higher interest numbers, as the accrued interest is added to the principal and the amount is then compounded quarterly. The overall accrued interests will be paid out at maturity.

    Maturities For deposits less than Rs.1 crore For deposits of Rs.1 crore or more
    Rate of Interest (p.a.) Annualized interest yield** Rate of Interest (p.a.) Annualized interest yield
    Less than 180 days 6.75% 6.75% 6.75% 6.75%
    180 to 269 days 7.50% 7.56% 6.75% 6.81%
    270 days to less than 1 year 7.75% 7.87% 6.75% 6.87%
    1 year 7.75% 7.98% 7.00% 7.19%
    Above 1 years and less than 2 years 7.75% 7.98% 7.00% 7.19%
    2 years to less than 3 years 7.75% 8.30% 7.00% 7.44%
    3 years to less than 5 years 7.75% 8.63% 7.00% 7.71%
    5 years to less than 8 years 7.50% 9.00% 7.00% 8.30%
    8 years to less than 10 years 7.50% 10.15% 7.00% 9.28%

    *Above mentioned rates are linked to the bank’s base rate and are subject to change as per the bank’s discretion. Rates are as of December 2015.

    ** Annual yield is based on quarterly compounding of interest.

    Apart from the rates mentioned above senior citizens will receive an additional 0.50% rate of interest as per the above table for all maturities, regardless of the amount of deposit.

    Canara Bank Kamadhenu Deposit FAQs

    1. What is the criteria for premature withdrawal?

      Premature withdrawal is allowed on all deposits. For deposits less than Rs.1 crore, a penalty of 1% is applicable as reduced interest rate according to the agreed upon rates. For deposits of Rs.1 crore and above, no penalty is applicable on premature withdrawal. Also, interest will not be paid out on any premature withdrawal done before completion of 7th day of the scheme.

    2. What is the part withdrawal facility?

      The part withdrawal facility allows you to withdraw a part of the overall deposit in multiples of Rs.1,000 while the remaining amount continues to earn interest at contracted rates.

    3. How does the auto-renewal facility work?

      If you have opted for the auto-renewal feature, your deposit will start a new cycle for the same tenure at maturity, while the interest rate will be as per the prevailing rates at the time.

    4. What happens if I have not opted for auto renewal?

      In case you haven’t opted for auto renewal, your deposit will be treated as overdue deposit and will start earning interest at savings account rates.

    5. What documents do I need to submit to avail this scheme?

      The following needs to be submitted at the time of application for this scheme:

      • Copy of PAN card
      • Identity and address proof as per KYC norms
      • Photograph of depositors
      • Related documents as applicable for non-individual accounts.

    Useful Information on Canara Bank Fixed Deposit

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    Canara Bank Kamadhenu Deposit Reviews

    • Canara Bank Fixed Deposit
      "Good nservice"
      0.5 5.0/5 "Blown Away!"
      I am having fixed deposit with Canara Bank ,interest is good .The banking service is good so far .I have not faced any issues so far .Money will be safe on this account .Whenever need money can take and can deposit as well .The banking service is good and satisfied so far .Will get frequent update as well.
      Was this review helpful? 6
      , faridabad
      Reviewed on Apr 30, 2019
    • Canara Bank
      Canara Bank Fixed Deposit
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I had made this Fixed deposit a long time back and the growth of the deposit has been good. The major thing which they should get improved is with their customer support where there should be a good help which should be there. The interest rate with them has not been bad and i had not faced much issues with their services so far.
      Was this review helpful? 4
      , secunderabad
      Reviewed on Nov 11, 2018
    • Canara Bank Fixed Deposit
      "Good service"
      0.5 4.0/5 "Great!"
      I have my Fixed Deposit opened with Canara bank from last 6 months, i am happy with the services provided by Canara bank. I have deposited an amount of Rs 50000 as FD. Customer service is very good and they gave all the right information. I get 6.6% of interest as return on FD.
      Was this review helpful? 18
      , kolkata
      Reviewed on Jun 29, 2018
    • Canara Bank Fixed Deposit
      "3 years old"
      0.5 3.0/5 "Satisfactory"
      This has been good Bank that I have number of relationship with. I started with a Saving Accounts with them, followed by this Fixed Deposit. The Interest rate of 6.5% is not high, but a an alright one. I also have a Credit Card with them on the basis of this account,
      Was this review helpful? 5
      , new delhi
      Reviewed on Nov 25, 2017
    • Canara Bank Fixed Deposit
      "Its okay"
      0.5 5.0/5 "Blown Away!"
      Good to invest in CANARA BANK FD. I feel good banking with them. I am holding this FD for a long time. Its very much convenient. Their branch is in my campus so it is very much easy to walk in to the branch to place a request. They took around one day to complete the process even the documents required too was very simple.
      Was this review helpful? 2
      , bangalore
      Reviewed on Sep 08, 2017
    • Canara Bank Fixed Deposit
      "Good"
      0.5 2.5/5 "Just OK"
      I am having the fixed deposit account with the Canara bank and the rate of interest is around 8.5%, which was very lesser one on that time. Total tenure is around three years of time, also the penalty charges are not really huge. Customer service is not really up to the mark.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Jun 20, 2017
    • Canara Bank Fixed Deposit
      "For common man"
      0.5 5.0/5 "Blown Away!"
      I do have the fixed deposit account with the Canara bank and am using it from the last ten years of time. Customer service aspects are good one with them and the online banking services are not really working in a good according the new generation bankers. The interest rate is around 7.25% as of now.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jun 12, 2017
    • Canara Bank Fixed Deposit
      "The worst bank service in my experience.. "
      0.5 0.5/5 "Unacceptable"
      It is the worst bank ever in my personal experience. From opening a bank account, to drawing money by cheque, to request for a duplicate copy of the FD receipt. One of the most lethargic and uninterested executives ever. They portray a sort of disgusting attitude while dealing with customers, specifically the branch in hebbal and vasanthnagar, Bangalore.
      Was this review helpful? 9
      , bangalore
      Reviewed on Dec 07, 2016
    • Canara Bank Fixed Deposit
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      The rates are very competitive with Canara bank. I maintain a fixed deposit account with them. The services are good. It was not a task to get this account. There are no charges taken too. Overall the services and response at the bank for these queries are supportive and helpful.
      Was this review helpful? 11
      , new delhi
      Reviewed on Sep 06, 2016
    • Canara Bank Fixed Deposit
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      Not to a big deal, to open a Fixed deposit with Canara bank. It was quite easy and fast. The services offered by them was really good. The rate of interest is satisfactory too. They do not charge any charges for my account and it was a good experience.
      Was this review helpful? 5
      , bangalore
      Reviewed on Jul 01, 2016
    • Canara Bank Fixed Deposit
      "Customer service needs to improve"
      0.5 1.5/5 "Bad"
      I have a Fixed Deposit scheme with Canara bank which offers 7-8%. I have been using this for about 5-6 years by reinvesting in the same scheme after maturity. However their response and delayed way of working has made me change my mind. The executives are not responsive and I may not continue it after this scheme matures.
      Was this review helpful? 3
      , coimbatore
      Reviewed on May 04, 2016
    • Canara Bank Fixed Deposit
      "Excellent rates"
      0.5 5.0/5 "Blown Away!"
      Interest rate offered by Canara bank was 9.5% for the FD. Cumulative interest rate option is there and I have invested the amount through the bank . I personally went to the bank and opted myself for the same. I have just visit the Branch to fill the form for the liquidation. Partial liquidation option is available there.
      Was this review helpful? 12
      , aurangabad
      Reviewed on Apr 15, 2016
    • Canara Bank Fixed Deposit
      "Good "
      0.5 4.0/5 "Great!"
      I have the fixed deposit account with the Canara bank and the interest rate is good for me. The money will be compounded quarterly, so the returns will be good. The response in the branch is a nice one with the Canara bank.
      Was this review helpful? 3
      , bangalore
      Reviewed on Mar 18, 2016
    • Canara Bank Fixed Deposit
      "Very good"
      0.5 4.0/5 "Great!"
      Canara bank is offering 9% interest rate for the fixed deposit for the minimum lock in period of on year. There is no activation charges. The minimum amount to start is Rs.5000.There is no penalty in case we withdraw the money in between the lock in period. I visited the bank for the process and the FD got activated in 2 days.
      Was this review helpful? 14
      , mumbai
      Reviewed on Feb 27, 2016
    • Canara Bank Fixed Deposit
      "Very good bank it is..."
      0.5 5.0/5 "Blown Away!"
      I always keep renewing the fixed deposit and I am doing this for several years. Interest rate depending as on the central government rule. Initially it was less and now it is like 9.25%. Canara bank is very good as using that for 20 years. All my family members are dealing with Canara bank.
      Was this review helpful? 12
      , mumbai
      Reviewed on Feb 05, 2016
    • Canara Bank Fixed Deposit
      "Savings in Money"
      0.5 5.0/5 "Blown Away!"
      I would suggest you to go for Canara Bank because first of all it is Public bank which is good for customer. Public Sector Banks are much better than Private Sector Banks as government having control on it and there are less chances of fraud happening internally within the bank. Canara Bank provides us interest on Fixed Deposit at nominal rate of interest which is beneficial for customer as compared to given by Private Sector Banks. Investing and borrowing from such Public sector banks would create opportunity of great savings of customer interest in terms of money.
      Was this review helpful? 9
      , mumbai
      Reviewed on Nov 29, 2015
    • Canara Bank Fixed Deposit
      "Its nominal"
      0.5 5.0/5 "Blown Away!"
      I am holding this Canara Bank fixed deposit for a period of 12 years. Interest rate offered by them was good.They have provided the best interest rate and they have asked for pan card number and this was opened through the branch and they took around 3 days of time to complete this process.
      Was this review helpful? 8
      , chennai
      Reviewed on Oct 19, 2015
    • Canara Bank Fixed Deposit
      "Not comfortable to access..."
      0.5 4.0/5 "Great!"
      Canara bank is good and the interest rate on fixed deposit is par with the private banks. Concern is that to create the deposit I need to go the branch and to break the plan, need to visit the branch. For working people really it wonâ??t be comfortable. Canara bank need to improve their technology. They mentioning that they have online portal but I never tried of it.
      Was this review helpful? 4
      , bangalore
      Reviewed on Sep 24, 2015
    • Canara Bank Fixed Deposit
      "Wonderful"
      0.5 4.5/5 "Excellent!"
      I am having the fixed deposit with the Canara bank. The rate of interest is around 9% and the minimum lock in period is around 1 year of time. Customer service is good and the manager is assisting me very nicely. Net banking is good with them and I am happy with them.
      Was this review helpful? 7
      , bangalore
      Reviewed on Sep 19, 2015
    • Canara Bank Fixed Deposit
      "Good profit "
      0.5 4.0/5 "Great!"
      I hold an Fixed Deposit account with CANARA BANK for a quite long time. They have offered me 9% interest rate which is nominal with other banks. They are very customer friendly when compared with other banks. Over all it was good experience to me.
      Was this review helpful? 5
      , bangalore
      Reviewed on Sep 07, 2015
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