• Canara Bank NRE / NRO / NRI / FCNR FD Rates

    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.

    Highlights Of Canara Bank NRI FD Interest Rates

    • Highest Non to Resident External (NRE) FD rate: 5.50% p.a.
    • Highest Non to Resident Ordinary (NRO) Fixed Deposit rate: 5.50% p.a.
    • Maximum Foreign Currency Non to Resident (Bank) (FCNR (B)) FD rate:
      • Australian Dollar (AUD): 1.42% p.a.
      • US Dollar (USD): 1.78% p.a.
      • Canadian Dollar (CAD): 1.93% p.a. .
      • Pound Sterling (GBP): 1.19% p.a. .
      • Euro (EUR): 0.20% p.a.

    Canara Bank NRE Fixed Deposit Rates: Below Rs.2 Crore

    Tenure bracket Regular NRE FD rates (per annum) Senior Citizens FD rates (per annum)
    12 months 5.20% N/A
    12 months 1 day to 24 months 5.20% N/A
    24 months 1 day to 36 months 5.40% N/A
    36 months to 60 months 5.50% N/A
    60 months to 96 months 6.20% N/A
    96 months to 120 days 5.50% N/A

    *The Canara Bank NRE Term Deposit rates tend to change at the discretion of the bank. The rates of interest given here are valid as of 01 December 2021.

    Canara Bank FCNR (B) Fixed Deposit Rates

    Tenure
    FCNR (B) FD rates (per annum)
    USD GBP EUR CAD AUD
    1 year to 2 years 0.98 0.63 NIL 1.12 0.63
    2 years to 3 years 1.05 0.79 0.01 1.13 0.69
    3 years to 4 years 1.27 0.93 0.06 1.43 0.86
    4 years to 5 years 1.53 1.07 0.12 1.71 1.16
    5 years 1.78 1.19 0.20 1.93 1.42

    *The Canara Bank FCNR (B) FD interest rates tend to change at the discretion of the bank. The rates of interest given here are valid as of 01 December 2021.

    Canara Bank NRO Term Deposit Rates: Less than Rs.2 crore

    Tenure bracket Regular FD rates (per annum) Senior Citizens FD rates (per annum)
    7 days to 15 days 2.95% 2.95%
    15 days to 31 days 2.95% N/A
    31 days to 46 days 2.95% N/A
    46 days to 61 days 3.90% 3.90%
    61 days to 91 days 6.25% N/A
    91 days to 121 days 4.00% 4.00%
    121 days to 180 days 6.25% N/A
    180 days to less than 1 year 4.45% 4.95%
    270 days to 12 months 6.40% N/A
    12 months 5.20% 5.70%
    12 months 1 day to 24 months 5.20% 5.70%
    24 months 1 day to 36 months 5.40% 5.90%
    36 months to 60 months 5.50% 6.00%
    60 months to 96 months 6.20% N/A
    96 months to 120 days 5.50% 6.00%

    *The Canara Bank NRE FD rates tend to change at the discretion of the bank. The rates of interest given here are valid as of 01 December 2021.

    FAQs on Canara Bank NRI FD Rates

    1. Can NRI individuals open a joint account?

      Yes. However, there should be no more than four NRI individuals in a joint account.

    2. What is the minimum investment for Canara Bank fixed deposit schemes?

      The minimum deposit amount is Rs.1,000 for Canara Bank fixed deposit schemes.

    3. Is there is premature withdrawal facility on Canara Bank fixed deposit schemes for NRIs?

      Yes, Canara Bank fixed deposit schemes come with a premature withdrawal facility for NRIs.

    4. Is there a penalty for premature withdrawal of NRO fixed deposits?

      Yes, a penalty of 1.00% is applicable on premature withdrawal of NRO fixed deposits.

    5. Is a nomination facility available on fixed deposits schemes for NRIs?

      Yes, the nomination facility is available on fixed deposits schemes for NRIs.

    6. Can an NRE account holder avail of loans against fixed deposits?

      Yes, Canara Bank offers loans against fixed deposits for NRE/NRO/FCNR account holders.

    7. Will NRIs aged above 60 years be eligible for additional interest on their fixed deposits?

      No, senior citizen NRIs are not eligible for any additional interest on their fixed deposits.

    8. Are transfers between a person’s NRO accounts allowed?

      No, transfers between a person’s NRO accounts are not allowed.

    9. What is the maximum period of fixed deposit for NRE account holders?

      The maximum period of fixed deposit for NRE account holders is 10 years.

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