Canara Bank provides investment products to Non to Resident Indians (NRIs) as Fixed Deposits (FDs). They can invest in the NRI FDs to boost their savings.
Tenure | Interest Rates (p.a.) |
1 year only | 6.85% |
444 Days | 7.25% |
Above 1 year to less than 2 years | 6.85% |
2 years and above to less than 3 years | 6.85% |
3 years and above to below 5 years | 6.80% |
5 years and above to 10 years | 6.70% |
Note: The interest rates mentioned are effective from 3 September 2024.
Tenure | USD | GBP | EUR | CAD | AUD |
1 year to less than 2 years | 5.65 | 5.00 | 3.00 | 4.50 | 4.00 |
2 years to less than 3 years | 4.30 | 3.00 | 2.00 | 4.00 | 3.50 |
3 years to less than 4 years | 4.00 | 2.50 | 1.50 | 3.85 | 3.00 |
4 years to less than 5 years | 4.00 | 2.50 | 1.50 | 3.50 | 3.00 |
5 years | 4.00 | 2.50 | 1.50 | 3.50 | 3.00 |
Note: The mentioned interest rates are effective from 12 August 2024. The USD mentioned above is more than 10,000.
Maturity Period | Interest Rate for General Citizens (p.a.) |
7 Days to 45 Days | 4.00% |
46 Days to 90 Days | 5.20% |
91 Days to 179 Days | 5.50% |
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 | 6.85% |
3 Years & above to less than 5 Years | 6.80% |
5 Years & above to 10 Years | 6.70% |
Note: The mentioned interest rates are effective 24 June 2024.
The minimum deposit amount is Rs.1,000 for Canara Bank fixed deposit schemes.
The maximum period of fixed deposit for NRE account holders is 10 years.
Yes. However, there should be no more than four NRI individuals in a joint account.
Yes, Canara Bank fixed deposit schemes come with a premature withdrawal facility for NRIs.
Yes, a penalty of 1.00% is applicable on premature withdrawal of NRO fixed deposits.
Yes, the nomination facility is available on fixed deposits schemes for NRIs.
Yes, Canara Bank offers loans against fixed deposits for NRE/NRO/FCNR account holders.
No, senior citizen NRIs are not eligible for any additional interest on their fixed deposits.
No, transfers between a person's NRO accounts are not allowed.
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