Rates on Fixed Deposits (FDs) of up to Rs 3 crore. This change, which was announced before the Reserve Bank of India (RBI) meeting, applies to FDs with a maturity of over 2 years but less than 3 years
and those over 3 years but less than 5 years. The interest rates for these FDs have been raised by 0.60 percent.
The bank has raised interest rates by 0.60% for FDs maturing between more than 2 years but less than 3 years, and more than 3 years but less than 5 years.
New Interest Rates from December 1, 2024
The updated interest rates on FDs, effective from December 1, 2024, apply to FDs ranging from 7 days to 10 years.
Canara Bank now offers an interest rate ranging from 4% to 7.40% for the general public and from 4% to 7.90% for senior citizens. The bank has revised the rates for various tenures as follows:
7 to 45 days: 4% interest for general citizens and senior citizens.
46 to 90 days: 5.25% interest for general citizens, and 5.35% for senior citizens.
91 to 179 days: 5.50% for general citizens, 5.61% for senior citizens.
180 to 269 days: 6.15% for general citizens, 6.29% for senior citizens.
Interest Rates for Callable and Non-Callable FDs
Canara Bank provides both callable and non-callable FDs. Callable FDs allow premature withdrawal but involve a penalty, while non-callable FDs do not allow early withdrawals. Below are the interest rates for both types of FDs:
| Time Period | General Citizen (Callable) | Senior Citizen (Callable) | General Citizen (Non-callable) | Senior Citizen (Non-callable) |
|---|---|---|---|---|
| 7 days to 14 days | 4.00% | 4.06% | NA | NA |
| 46 days to 90 days | 5.25% | 5.35% | 5.35% | 5.46% |
| 91 days to 179 days | 5.50% | 5.61% | 5.60% | 5.72% |
| 180 days to 269 days | 6.15% | 6.29% | 6.25% | 6.40% |
| 270 days to 1 year | 6.25% | 6.40% | 6.35% | 6.50% |
| 1 year | 6.85% | 7.03% | 7.00% | 7.19% |
| 444 days | 7.25% | 7.45% | 7.40% | 7.61% |
| 1-2 years | 6.85% | 7.03% | 7.00% | 7.19% |
| 2-3 years | 7.30% | 7.50% | 7.40% | 7.61% |
| 3-5 years | 7.40% | 7.61% | NA | NA |
| 5-10 years | 6.70% | 6.87% | NA | NA |
Canara Bank’s new FD interest rates offer attractive returns for both general citizens and senior citizens, making it a good option for those looking to invest in fixed deposits.
