|Tenors||Interest Rate p.a.(%)|
|Interest Rate p.a.(%)|
|7 days to 14 days *||4.20||4.70|
|15 days to 30 days||4.20||4.70|
|31 days to 45 days||4.50||5|
|46 days to 60 days||4.75||5.25|
|61 days to 90 days||4.75||5.25|
|91 days to 120 days||5.50||6.00|
|121 days to 179 days||5.75||6.25|
|180 days to 269 days||6.35||6.85|
|270 days to less than 1 year||6.35||6.85|
|1 year only||6.50||7.00|
|Above 1 year to less than 2 years||6.45||6.95|
|2 years & above to less than 3 years||6.20||6.70|
|3 years & above to less than 5 years||6.20||6.70|
|5 years & above to less than 8 years||6.00||6.50|
|8 years & above to 10 years||6.00||6.50|
* Rates are applicable only for single deposit of Rs.5 lakhs & above.
|Tenors||Interest Rate p.a. (%)|
|Interest Rate p.a.(%)|
|7 days to 14 days||4.00||N.A|
|15 days to 30 days||4.00||N.A|
|31 days to 45 days||4.00||N.A|
|46 days to 60 days||4.25||4.30|
|61 days to 90 days||4.25||4.30|
|91 days to 120 days||4.25||4.30|
|121 days to 179 days||4.75||4.80|
|180 days to 269 days||4.75||4.80|
|270 days to less than 1 year||4.75||4.80|
|1 year and above to less than 2 years||4.90||4.95|
|2 years and above to less than 3 years||4.90||4.95|
|3 years and above to less than 5 years||4.90||4.95|
|5 years and above to less than 8 years||4.90||N.A|
|8 years and above to 10 years||4.90||N.A|
|Tenors||Interest Rate p.a. (%)|
|Interest Rate p.a.(%)|
|5 years & above||6.00||6.50|
Canara Bank offers slew of Fixed Deposits (FDs) products at competitive interest rates with various tenures and lots of other benefits.
It is very easy to open a Canara Bank FD either online through its website or by visiting its nearby branch.
|ELIGIBILITY||Individual, Joint (not more than 4), a Guardian on behalf of a minor, HUF, Partnership, a Company, Association or any other Institution|
|INVESTMENT||Minimum: Rs.1,000 & Maximum: No ceiling|
|PERIOD OF DEPOSIT||Minimum: 15 days (7-14 days - Only for single deposit of Rs.5 lakh and above) & Maximum: 120 months|
|PERIODICITY OF INTEREST PAYMENT||Monthly (at discounted rates), Quarterly, Half-yearly or Annual intervals|
|LOAN FACILITY||Available upto 90% of the deposit amount|
|SPECIAL RATE FOR SENIOR CITIZEN||Additional interest rate of 0.50% uniformly across all maturities|
Any individual, Minor, HUF, proprietary/ partnership firm, LLP, company, AOP, body of individuals (BOI), local authority, trust, NRI and registered society can invest in fixed deposits (FD).
Following Documents are required for opening a Fixed Deposit Account
|Individual, HUF, Proprietor|
Deposit shall be renewed automatically for a similar period on the date of maturity at the rate of interest applicable for the period as on the date of maturity, in the absence of any renewal instructions well in advance.
Auto Renewal facility is not available for Canara Tax Saver Deposits, Capital Gains Accounts, Canara Samriddhi deposits (discontinued w.e.f. 01.10.2015) and Non callable deposits.
a) The deposit will be renewed automatically from the date of maturity for a similar period at the interest rate prevailing on the date of maturity for the period of deposit, if automatic renewal has been opted by the depositor at the time of opening of the deposit account (except deposits opened under Capital Gains Scheme, Canara Tax Saver Scheme & Non-callable term deposits).
b) If automatic renewal of the deposit is not opted by the depositor and the deposit remains with the Bank after the date of maturity (even if the CBS system renews the deposit automatically), the same will be treated as an overdue term deposit from the date of maturity of the original deposit. The overdue term deposit will be paid interest at prevailing Savings Bank rate for the overdue period, i.e. from the date of maturity of the original deposit till the date of payment/ re-investment.
Canara Bank offers many fixed deposit schemes specially designed for its NRI customers. In these schemes, NRI customers can deposit money either in Indian currency or in foreign currency depending on their status and preference. The bank also offers different interest rates for NRI fixed deposits. Following types of NRI fixed deposits are offered by Canara Bank:
|NRI Account Type||Details|
|NRE Account (Non Resident External Account)||Account is maintained in Indian currency|
|NRO Account (Non Resident Ordinary Account)||This either be funded by conventional payment or through traveller's cheques|
|FCNR Account (Foreign Currency Non Resident Account)||It is maintained in foreign currency|
|RFC Account (Resident Foreign Currency Account)||In this, customer to maintain the account in foreign currency even after returning to India permanently|
You may refer to following table for more details:
|Category||Name of Form||Exemption limit (Male)||Exemption limit (Female)|
|Individuals(upto age of 60)||Form 15G||Rs.2,50,000||Rs.2,50,000|
|HUFs, Associations, Trusts||Form 15G||Rs.2,50,000||Rs.2,50,000|
|Individual (age 60 years and above but less than 80 years)||Form 15H||Rs.3,00,000||Rs.3,00,000|
|Individual (age 80 years and above)||Form 15H||Rs.5,00,000||Rs.5,00,000|
|Others||Exemption certificate issued by Income Tax Officer||As per Exemption Certificate||As per Exemption Certificate|
The minimum amount for a fixed deposit is Rs.1,000
You can make investment under CANARA TAX SAVER SCHEME to get Income Tax rebate under Sec 80C of Income Tax Act
Yes, TDS is applicable as per rules and the customer will get TDS Certificate at the end of each financial year. A person can exempt from TDS, if he/ she submits Form 15G/ Form 15H in the beginning of each financial year
TDS is done at the time of credit of interest to account, if the total interest payable to the customer during the financial year is likely to exceed the limit of Rs.10,000.
TDS is deducted at rates as required by section 194A (Resident) and section 195 (NRO) of IT Act 1961 for the following category of account holders:
No, you cannot deposit any additional amount in your existing FD account.
It is from 7 days to 10 years.
Senior citizens get a 0.50% higher rate on their deposits compared to normal FD rates for all tenures for investment amount less than Rs 1 crore.
Interest payment on Monthly (discounted), Quarterly and Annual rest is available under Canara Bank Term Deposit.
No, you are not allowed to change the tenure of FD.
|Bank Name||Recurring Interest Rates||Calculate|
|Allahabad Bank||6.50% to 7.00%|
|Andhra Bank||6.50% to 7.00%|
|Axis Bank||6.75% to 7.00%|
|Bandhan Bank Limited||7.00% to 8.00%|
|Bank Of Baroda||6.50% to 7.00%|
|Bank Of India||6.90% to 7.00%|
|Bank Of Maharashtra||6.00% to 6.50%|
|Canara Bank||6.90% to 6.90%|
|Catholic Syrian Bank Limited||6.50% to 6.75%|
|Central Bank Of India||6.90% to 7.00%|
|City Union Bank Limited||6.70% to 7.10%|
|Corporation Bank||6.90% to 7.00%|
|Dcb Bank Limited||7.20% to 7.10%|
|Allahabad Bank||Andhra Bank||Bank Of Baroda||Bank Of India||Bank Of Maharashtra||Canara Bank||Central Bank Of India||Corporation Bank||Idbi Bank||Indian Bank||Indian Overseas Bank||Oriental Bank Of Commerce||Punjab National Bank||Syndicate Bank||Uco Bank||Union Bank Of India||United Bank Of India||Vijaya Bank||State Bank Of India||State Bank Of Mysore||State Bank Of Patiala||State Bank Of Travancore||State Bank Of Bikaner And Jaipur||Punjab And Sind Bank|
|Axis Bank||Bandhan Bank Limited||Catholic Syrian Bank Limited||City Union Bank Limited||Dcb Bank Limited||Dhanalakshmi Bank||Federal Bank||Hdfc Bank||Icici Bank Limited||Idfc Bank Limited||Jammu And Kashmir Bank Limited||Indusind Bank||Karnataka Bank Limited||Karur Vysya Bank||Kotak Mahindra Bank Limited||Laxmi Vilas Bank||The Nainital Bank Limited||Rbl Bank Limited||South Indian Bank||Tamilnad Mercantile Bank Limited||Yes Bank||Equitas Small Finance Bank Limited||Ujjivan Small Finance Bank Limited||Utkarsh Small Finance Bank||Suryoday Small Finance Bank||Au Small Finance Bank Limited||Capital Small Finance Bank Limited||Esaf Small Finance Bank Limited||North East Small Finance Bank Limited||Fincare Small Finance Bank Ltd|
|Allahabad Up Gramin Bank||Andhra Pradesh Grameena Vikas Bank||Andhra Pragathi Grameena Bank||Arunachal Pradesh Rural Bank||Assam Gramin Vikash Bank||Bangiya Gramin Vikash Bank||Baroda Gujarat Gramin Bank||Baroda Rajasthan Kshetriya Gramin Bank||Baroda Up Gramin Bank||Bihar Gramin Bank||Central Madhya Pradesh Gramin Bank||Chaitanya Godavari Grameena Bank||Chhattisgarh Rajya Gramin Bank||Dena Gujarat Gramin Bank||Ellaquai Dehati Bank||Himachal Pradesh Gramin Bank||Jammu And Kashmir Grameen Bank||Jharkhand Gramin Bank||Karnataka Vikas Grameena Bank||Kashi Gomti Samyut Gramin Bank||Kaveri Grameena Bank||Kerala Gramin Bank||Madhya Bihar Gramin Bank||Madhyanchal Gramin Bank||Maharashtra Gramin Bank||Malwa Gramin Bank||Manipur Rural Bank||Meghalaya Rural Bank||Mizoram Rural Bank||Narmada Jhabua Gramin Bank||Odisha Gramya Bank||Pallavan Grama Bank||Pandyan Grama Bank||Paschim Banga Gramin Bank||Pragathi Krishna Gramin Bank||Prathama Bank||Puduvai Bharathiar Grama Bank||Punjab Gramin Bank||Purvanchal Gramin Bank||Rajasthan Marudhara Gramin Bank||Saptagiri Grameena Bank||Sarva Haryana Gramin Bank||Saurashtra Gramin Bank||Sutlej Kshetriya Gramin Bank||Telangana Grameena Bank||Tripura Gramin Bank||Utkal Grameen Bank||Uttar Banga Kshetriya Gramin Bank||Uttar Bihar Gramin Bank||Uttarakhand Gramin Bank||Vananchal Gramin Bank||Vidharbha Konkan Gramin Bank|
|Ahmedabad Mercantile Cooperative Bank||Kalupur Commercial Cooperative Bank||The Mehsana Urban Cooperative Bank||Rajkot Nagrik Sahakari Bank Limited||Sardar Bhiladwala Pardi Pepls Co Bk||The Surath Peoples Cooperative Bank Limited||Amanath Cooperative Bank Ltd. Bangalore||The A.p. Mahesh Cooperative Urban Bank Limited||Abhyudaya Cooperative Bank Limited||Apna Sahakari Bank Limited||Bassein Catholic Cooperative Bank Limited||Bharat Cooperative Bank (mumbai) Ltd., Mumbai||Bharati Sahakari Bank||Bombay Mercantile Co Op Bank Ltd||Citizen Credit Cooperative Bank Limited||The Cosmos Co Operative Bank Limited||Dombivli Nagari Sahakari Bank Limited||The Goa Urban Co Op Bank Ltd||G P Parsik Bank||The Greater Bombay Cooperative Bank Limited||Jalgaon Janata Sahakari Bank Limited||The Jalgaon Peopels Cooperative Bank Limited||Janakalyan Sahakari Bank Limited||Janalaxmi Coop Bank||Kallappanna Awade Ichalkaranji Janata Sahakari Bank Limited||Kalyan Janata Sahakari Bank||Kapol Cooperative Bank Limited||The Karad Urban Cooperative Bank Limited||Mahanagar Cooperative Bank||The Mapusa Urban Coop Bank Of Goa Ltd||Nagar Urban Co Operative Bank||Nasik Merchants Cooperative Bank Ltd.||New India Cooperative Bank Limited||Nkgsb Cooperative Bank Limited||Pravara Sahakari Bank Ltd||Punjab And Maharshtra Cooperative Bank||Rajarambapu Sahakari Bank Ltd||Rupee Cooperative Bank Ltd.||Sangli Urban Co Op Bank Ltd Sangli||Saraswat Cooperative Bank Limited||The Shamrao Vithal Cooperative Bank||Solapur Janata Sahakari Bank Limited||The Thane Bharat Sahakari Bank Limited||Tjsb Sahakari Bank Ltd||The Zoroastrian Cooperative Bank Limited||Nagpur Nagarik Sahakari Bank Limited||Shikshak Sahakari Bank Limited||The Akola Janata Commercial Cooperative Bank Ltd., Akola.||Akola Urban Coop Bank||Khamgaon Urban Co Op Bank Ltd||Janata Sahakari Bank Limited||Idukki District Cooperative Bank|
2018 July 17 is a bank holiday in Meghalaya due to U Tirot Sing Day.
2018 July 20 is a bank holiday in Nagaland due to Kharchi Puja.
2018 August 04 is a bank holiday in Nagaland due to Ker Puja.
2018 August 13 is a bank holiday in Manipur due to Patriots' Day.
2018 August 15 is a bank holiday in Andaman And Nicobar Island due to Independence Day.
2018 August 17 is a bank holiday in Daman And Diu due to Parsi New Year (Shahenshahi).