Founded in 1906 and nationalised in 1969, Canara Bank has over the years emerged as one of the leading 'financial conglomerates'. Canara Bank currently has nine joint ventures in India and overseas. Canara Bank is on a growth trajectory with an increasing domestic presence. Canara Bank has around 5727 branches across the country.
Canara Bank offers NRO, NRE and FCNR fixed deposits at attractive interest rates. Upon premature withdrawal, no penalty is charged for NRO deposits Rs.1 crore and above after December 13th, 2012. No interest is paid for premature closure of deposits before the 7th day. A penalty of 1% is applicable under Capital Gains Account Scheme, prematurely withdrawn. Upon premature closure of NRE term deposits less than Rs.1 crore, a 1% penalty will be charged. No interest is paid for premature closure before one year from the deposit date.
The following table displays the NRE fixed deposit interest rates* offered by Canara Bank
| Tenure | Rates (%) |
| 1 year only | 6.5 |
| Above 1 year to less than 2 years | 6.3 |
| 2 years & above to less than 3 years | 6.2 |
| 3 years & above to less than 5 years | 6.2 |
| 5 years & above to less than 8 years | 6 |
| 8 years & above to 10 years | 6 |
*Rates are subject to change from time to time.
The following table displays the NRO fixed deposit interest rates* offered by Canara Bank
| Tenure | Regular FD Rates | Senior Citizen FD Rates |
| 7 days to 14 days | 4.2 | 4.7 |
| 15 days to 30 days | 4.2 | 4.7 |
| 31 days to 45 days | 4.5 | 5 |
| 46 days to 60 days | 4.75 | 5.25 |
| 61 days to 90 days | 4.75 | 5.25 |
| 91 days to 120 days | 5.5 | 6 |
| 121 days to 179 days | 5.75 | 6.25 |
| 180 days to 269 days | 6.5 | 7 |
| 270 days to less than 1 year | 6.5 | 7 |
| 1 year only | 6.9 | 7.4 |
| Above 1 year to less than 2 years | 6.8 | 7.3 |
| 2 years & above to less than 3 years | 6.8 | 7.3 |
| 3 years & above to less than 5 years | 6.7 | 7.2 |
| 5 years & above to less than 8 years | 6.5 | 7 |
| 8 years & above to 10 years | 6.5 | 7 |
*Rates are subject to change from time to time.
The following table displays the FCNR (B) fixed deposit interest rates* offered by Canara Bank
| CURRENCY OF DEPOSIT | 1 Year and above but less than 2 years | 2 years and above but less than 3 years | 3 years and above but less than 4 years | 4 years and above but less than 5 years | Five years only |
| USD | 2.19 | 2.56 | 2.62 | 2.7 | 2.79 |
| GBP | 0.89 | 1.05 | 1.13 | 1.21 | 1.29 |
| EUR | 0.25 | 0.32 | 0.42 | 0.54 | 0.67 |
| CAD | 2.13 | 2.09 | 2.19 | 2.27 | 2.34 |
| AUD | 2.33 | 2.47 | 2.61 | 2.88 | 2.99 |
*Rates are subject to change from time to time.
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