Canara Bank has surprised millions of its customers by reducing interest rates on some Fixed Deposits (FDs). The interest on the special 444-day FD has been cut by 0.25%.
Additionally, interest rates on FDs with tenure more than 2 years but less than 3 years have been lowered by 0.20%.
Following RBI’s repo rate cut, many banks, including Canara Bank, are reducing their FD interest rates. These new rates came into effect from May 21, 2025.
New FD Interest Rates at Canara Bank (From May 21, 2025)
7 to 45 days: 4.00%
46 to 90 days: 5.25%
91 to 179 days: 5.50%
180 to 269 days: 6.15%
Callable vs Non-Callable FD
Canara Bank offers two types of FDs:
Callable FD: Allows early withdrawal without penalty.
Non-Callable FD: No early withdrawal allowed; penalty applies if withdrawn before maturity.
Understanding your liquidity needs before choosing the type of FD is important.
Interest Rates for General and Senior Citizens (Callable & Non-Callable)
| Tenure | General Citizen Callable | Senior Citizen Callable | General Citizen Non-Callable (₹1cr-₹3cr) | Senior Citizen Non-Callable (₹1cr-₹3cr) |
|---|---|---|---|---|
| 7 to 45 days | 4.00% | 4.06% | N/A | N/A |
| 46 to 90 days | 5.25% | 5.35% | 5.35% | 5.46% |
| 91 to 179 days | 5.50% | 5.61% | 5.60% | 5.72% |
| 180 to 269 days | 6.15% | 6.29% | 6.25% | 6.40% |
| 270 days to less than 1 year | 6.25% | 6.40% | 6.35% | 6.50% |
| 1 year | 6.85% | 7.03% | 7.71% | 7.10% |
| 444 days | 7.00% | 7.19% | 7.40% | 7.61% |
| More than 1 year but less than 2 years | 6.85% | 7.03% | 7.00% | 7.19% |
| More than 2 years but less than 3 years | 6.90% | 7.08% | 7.00% | 7.19% |
| More than 3 years but less than 5 years | 7.00% | 7.61% | N/A | N/A |
| More than 5 years to 10 years | 6.70% | 6.87% | N/A | N/A |
