The current Canara Bank FD interest rate goes up to 7.90% p.a., making it a great investment option. It offers you two types of FDs:
Here are some other key features of Canara Bank FDs:
Read on to know the Canara Bank FD rates in 2024.
High Canara Bank FD rates help you grow your money safely and steadily. See the table below to know the Canara Bank FD rates for deposits of up to ₹2 crores with premature withdrawal facility:
| Tenure of Term Deposits | Interest Rate (% p.a.) for General public | Interest Rate (% p.a.) for Senior Citizens |
|---|---|---|
| 7 Days to 45 Days | 4.00 | 4.00 |
| 46 Days to 90 Days | 5.25 | 5.25 |
| 91 Days to 179 Days | 5.50 | 5.50 |
| 180 Days to 269 Days | 6.15 | 6.65 |
| 270 Days to less than 1 Year | 6.25 | 6.75 |
| 1 Year Only | 6.85 | 7.35 |
| 444 Days | 7.25 | 7.75 |
| Above 1 Year to less than 2 Years | 6.85 | 7.35 |
| 2 Years & above to less than 3 Years | 6.85 | 7.35 |
| 3 Years & above to less than 5 Years | 6.80 | 7.30 |
| 5 Years & above to 10 Years | 6.70 | 7.20 |
Disclaimer: The above rates are subject to change at the bank’s discretion.
Here are some crucial points to note before you invest:
Also Read: How to get bank statement online
Here are some pros of choosing Canara Bank FD:
You can start investing with a minimum amount of ₹1,000 and there is no upper limit. This allows you to start your deposit according to your income and preferences.
The Canara Bank FD tenure ranges from 15 days to 120 months and you can also invest for 7 to 14 days with a minimum investment of ₹5 lakhs. This allows you to invest as per your goals and needs.
You can enjoy the convenience of interest payouts at various intervals. You can access earnings every month or quarter as well as half-annually or annually.
With Canara Bank’s loan against FD option, you can access financing of up to 90% of the value of your deposit without breaking your FD.
Get the benefit of uninterrupted earnings with the convenience of automatic renewal. This facility renews your deposit for a similar period at the prevailing interest rate.
Depending on the deposit you choose, you can enjoy partial withdrawal options in units of ₹1,000. This allows you to access some funds while keeping the remaining funds in an FD account uninterrupted.
Now that you know the Canara Bank’s FD rates and benefits, you can make informed choices. Try to avoid withdrawing your FD prematurely to get maximum returns.
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As of February 2024, the rates range from 4% to 7.90%. They vary based on:
Yes, it is a reputable and well-established public sector bank in India. The FDs are also backed by the Deposit Insurance and Credit Guarantee Corporation (DICGC).
Canara Bank offers various FD schemes tailored to different needs, so the ideal option will depend on your goals. Remember, senior citizens get higher rates than regular investors.
Senior citizens can earn up to 7.75% on a callable deposit under ₹2 crores for 444 days. The rates are subject to change based on:
Yes, it is a reliable option because it:
The current Canara Bank FD rates range from 4% to 7.90% p.a. on callable and non-callable deposits under ₹2 crores. The rates differ based on:
