Canara Bank latest fixed deposit interest rates for all maturity periods – The Public Sector Canara Bank has revised the FD Interest rates with immediate effects. The latest fixed deposit rates offer by Canara Bank for different periods from 7 Days to 10 Years for general public and senior citizens are mentioned below.
Latest Updates – Canara Bank has launched the 400 Days Fixed Deposit with ROI of 7.75%. Click to know the details.
The FD interest rate offers by Canara Bank are varies from 3.25% p.a. to 7.00% p.a. for the general public where as for senior citizens, it ranges between 3.25% p.a. and 7.50% p.a.
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Canara Bank Fixed Deposit Rates For Less than Rs.2 Crore
| Maturity Period | Interest Rate for General Public (p.a.) | Interest Rate for Senior Citizens (p.a.) |
| 7 days to 45 days | 3.25% | 3.25% |
| 46 days to 90 days | 4.50% | 4.50% |
| 91 days to 179 days | 4.50% | 4.50% |
| 180 days to 269 days | 5.50% | 6.00% |
| 270 days – Below 1 year | 5.50% | 6.00% |
| 1 year | 6.75% | 7.25% |
| Above 1 year to below 2 years | 6.80% | 7.30% |
| 666 days | 7.00% | 7.50% |
| 2 years and above to below 3 years | 6.80% | 7.30% |
| 3 years and above to below 5 years | 6.50% | 7.00% |
| 5 years including tax saving and
above to 10 years |
6.50% | 7.00% |
Note: The mentioned interest rates are effective from 16th Dec 2022. 0.50% extra for senior citizen.
Benefits of Fixed Deposits by Canara Bank
- Canara Bank is a Government of India Undertaking
- The minimum amount for Fixed Deposit is as low as Rs.1,000.
- The minimum & maximum tenure for deposits are seven days and ten years.
- 0.50% extra Interest rate for senior citizens of all FDs above six months.
- Nominations facility available
- Overdraft Loans with lowest interest rate against the Fixed deposits up to maximum of 95% of FD amount.
- Premature withdrawal is allowed.
- Auto-renewal option is offered.
- Joint accounts can be opened.
- Fixed deposits can be opened through Mobile Banking & Internet Banking
Who can open FD with Canara Bank ?
- Individuals
- Associations
- Companies
- Partnerships
- Hindu Undivided Families (HUFs)
- A guardian can open an account on behalf of a minor
Documents Require for Fixed Deposits
- Application form in the bank format
- Proof of address as per KYC norms
- Proof of identity as per KYC norms
- Two photographs
- Copy of Permanent Account Number (PAN) Card
- Form 60 or Form 61 in case you do not have a PAN Card
Income Tax on Fixed Deposit
Canara Bank is deducting the TDS (Tax Deducted at Source) on maturity value of the Fixed deposits. The TDS rate with PAN card will be 10% and without PAN card is 20% for Interest amount more than Rs 10,000 in a financial year. Bank is providing facilities to submit Form 15G & 15H for non deduction of TDS by the bank.
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