Canara Bank RD Interest Rates
|Deposit Tenure||General Customers (%)||Senior Citizen (%)|
|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|
Canara Bank NRE RD Interest Rates
|Deposit Tenure||General Customers (%)|
|1 year only||6.9|
|Above 1 year to less than 2 years||6.8|
|2 years & above to less than 3 years||6.8|
|3 years & above to less than 5 years||6.7|
|5 years & above to less than 8 years||6.5|
|8 years & above to 10 years||6.5|
Get the best rates for a Canara Bank Recurring Deposit
Canara Bank offers flexible recurring deposit plans to both Indian citizens and Non-resident Indians at attractive interest rates. A regular recurring deposit scheme is offered along with the “Canara Dhanvarsha” plan to customers. Resident Indians, joint account holders, minors, firms, HUF, trusts, companies and institutions are eligible to open a Canara Bank recurring deposit account. A new Canara Dhanvarsha recurring deposit account can be opened with a minimum amount of Rs. 1000 and the monthly payments can be increased in multiples of Rs. 100, with the maximum deposit amount being Rs. 1 lakh. The regular recurring deposit account does not carry any upper limit cap. NRE customers who have opened a Canara Dhanvarsha recurring deposit account have to make installment payments via debits from NRE savings accounts or through approved inward remittance procedures. The regular recurring deposit account offers TDS benefits, nomination facility and loan on the deposit for up to 90% of the available balance and special interest rates for senior citizens.
Canara Bank - Short Term Recurring Deposit Interest Rates
The short term recurring deposits available from Canara Bank carry tenures ranging from 1 year and Above 1 year to less than 2 years. The interest rate offered for a deposit tenures of 1 year and above 1 year to less than 2 years tenure the interest rate offered is 6.90%.
Canara Bank - Medium and Long Term Recurring Deposit Interest Rates
If a customer is considering to opt for a mid-range Canara Bank recurring deposit scheme, then the available tenure options are 2 years, 3 years, 4 years and 5 years. The interest rate offered by Canara Bank is 6.90% for all these deposit tenures. Longer recurring deposit tenures are also available with Canara Bank, from 5 years & above to less than 8 years and 8 years & above to 10 years, with the interest rate offered being 6.90%.
Canara Bank - Senior Citizen Recurring Deposit Interest Rates
Senior citizens can enjoy special interest rates on their recurring deposit accounts from Canara Bank. For a 1 year recurring deposit tenure, the interest rate offered is 7.40% and for above 1 year to less than 2 years deposit tenure, the interest rate offered is 7.40%. Recurring deposits opened with a tenure of 1 year and beyond, offers an interest rate of 7.40% to senior citizens.
Canara Bank - NRE Recurring Deposit Interest Rates
The interest rates offered on a Canara Bank NRE recurring deposit account varies according to the amount deposited by the customer. The RD tenures range from 1 year to 10 years and customers can choose according to their financial requirements. NRE recurring deposits with tenures ranging from 1 year to 5 years carry an interest rate of 6.90%. Tenures above 5 years and up to 10 years offer a recurring deposit interest rate of 6.90%. The above mentioned interest rates are applicable on NRE deposits carrying amounts lesser than Rs. 1 crore. NRE RD accounts with deposit amounts more than Rs. 1 crore, offer an interest rate of 4.90%, annually.
More you need to know about Recurring Deposit
- RD Calculator
- Canara Bank Recurring Deposit
- Recurring Deposit
- Compare Recurring Deposit Interest Rate of Canara Bank with Other Banks and Institutions
Canara Bank RD Schemes
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News About Canara Bank Recurring Deposit Interest Rates
Canara Bank Slashes Term Deposit Rates
Canara Bank has reduced the term deposit rates. The 1 year FD rate has been slashed by 0.10%, bringing it down to 6.9%. Canara Bank is now in tandem with HDFC Bank and ICICI Bank. As per a senior official, bank do not wish to keep the high cost deposits anymore. The deposit rates have now been aligned with the reduced lending rates.
2nd May 2017
Canara Bank’s Recurring Deposit Rates Revised
Canara Bank have revised their Recurring Deposit interest rates. Recurring deposits with a tenure of 2 years will now pay interest of 7.75% (senior citizens will receive 8.25%). The old rate for this tenure was 8% (8.50% for senior citizens).
The rate for a 3 year tenure has also been changed to 7.75% (8.25% for senior citizens) from the old rate of 8% (8.50% for senior citizens).
The rates of interest for the other Recurring Deposit tenures remain unchanged.
2nd March 2016