New Delhi: Canara bank has revised interest rates on its fixed deposit effective from August 09, 2021 on term deposits across maturities ranging from 7 days to 10 years for deposits less than Rs 2 crore.
The Bank offers 5.25 % p.a. for Canara Tax Saver Deposit scheme (General Public). Maximum deposit acceptable is Rs 1.50 Lakh. The rate of interest is applicable to Recurring deposits also. (Also read: Fixed deposit alert! Axis Bank revises FD interest rates - new rates here)
Here are the new/revised interest rates on its Canara Bank Fixed Deposit.
| Term Deposits (All Maturities) | General Public | Senior Citizen | ||
|---|---|---|---|---|
| Rate of Interest (% p.a.) | Annualised Interest yield (% p.a.) ** | Rate of Interest (% p.a.) # | Annualised Interest yield (% p.a.) ** | |
| 7 days to 45 days* | 2.90 | 2.93% | 2.90 | 2.93% |
| 46 days to 90 days | 3.90 | 3.96% | 3.90 | 3.96% |
| 91 days to 179 days | 3.95 | 4.01% | 3.95 | 4.01% |
| 180 days to less than 1 Year | 4.40 | 4.47% | 4.90 | 4.99% |
| 1 year only | 5.10 | 5.20% | 5.60 | 5.72% |
| Above 1 year to less than 2 years | 5.10 | 5.20% | 5.60 | 5.72% |
| 2 years & above to less than 3 years | 5.10 | 5.20% | 5.60 | 5.72% |
| 3 years & above to less than 5 years | 5.25 | 5.35% | 5.75 | 5.88% |
| Canara Unique “1111 Days” | 5.35 | 5.46% | 5.85 | 5.98% |
| 5 years & above to 10 Years | 5.25 | 5.35% | 5.75 | 5.88% |
(Source:https://canarabank.com/)
The Bank mentions following conditions on the Astrix and special characters:
Canara Unique Retail Term Deposit Scheme of “1111 Days” with additional rate of interest of 0.10% over and above the rate for the tenor of the deposit.
* Rates are applicable only for single deposit of Rs.5 Lakh & above. Minimum period for renewal of domestic/NRO term deposits is 7 days irrespective of the size of deposit. Below Rs.5 Lakh, Minimum tenor of deposit is 15 Days.
# Additional interest of 0.50% for Senior Citizens is to be made available for Deposits (Other than NRO/NRE and CGA Deposits) less than Rs. 2 Cr and with tenor of 180 Days and above.
** Approximate Annualized Yield in % terms at the beginning of the slab. Effective Annualized rate of return on Bank’s Re-investment Deposit Plan (Kamadhenu Deposit) is based on quarterly compounding of interest.
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