Public sector lender Canara Bank has updated its interest rates for fixed deposits (FDs) and savings accounts, effective 7 August 2025.
These new rates apply to both general customers and senior citizens.
New FD Interest Rates
For Callable FDs (less than ₹3 crore, with premature withdrawal option):
General customers: 3.25% to 6.50% per annum
Highest: 6.50% for 444 days
Senior citizens: 3.25% to 7% per annum
Highest: 7% for 444 days
Callable FDs allow premature or partial withdrawals, but since March 2019, a 1% penalty applies in such cases.
Interest Rate Table (Callable & Non-Callable FDs)
| Period | General Public (%) | Annual Yield (%) | Senior Citizens (%) | Annual Yield (%) | General Public (%) Non-Callable | Annual Yield (%) | Senior Citizens (%) Non-Callable | Annual Yield (%) |
|---|---|---|---|---|---|---|---|---|
| 7–45 days | 3.25 | 3.29 | 3.25 | 3.29 | NA | NA | NA | NA |
| 46–90 days | 4.25 | 4.32 | 4.25 | 4.32 | 4.35 | 4.42 | 4.35 | 4.42 |
| 91–179 days | 4.50 | 4.58 | 4.50 | 4.58 | 4.60 | 4.68 | 4.60 | 4.68 |
| 180–269 days | 5.50 | 5.61 | 6.00 | 6.14 | 5.60 | 5.72 | 6.10 | 6.24 |
| 270 days–<1 year | 5.75 | 5.88 | 6.25 | 6.40 | 5.85 | 5.98 | 6.35 | 6.50 |
| 1 year–1 year 3 months | 6.25 | 6.40 | 6.75 | 6.92 | 6.35 | 6.50 | 6.85 | 7.03 |
| 444 days | 6.50 | 6.66 | 7.00 | 7.19 | 6.60 | 6.76 | 7.10 | 7.29 |
| >1 year 3 months–<2 years | 6.25 | 6.40 | 6.75 | 6.92 | 6.35 | 6.50 | 6.85 | 7.03 |
| 2–<3 years | 6.25 | 6.40 | 6.75 | 6.92 | 6.35 | 6.50 | 6.85 | 7.03 |
| 3–<5 years | 6.25 | 6.40 | 6.75 | 6.92 | NA | NA | NA | NA |
| 5–10 years | 6.25 | 6.40 | 6.75 | 6.92 | NA | NA | NA | NA |
New Savings Account Interest Rates
The bank has reduced savings account rates:
New rates: 2.55% to 4% (based on account balance)
Earlier rates: 2.70% to 4%
Why the Rates Changed
The revision came right after the RBI’s policy review on 6 August 2025, where the repo rate was kept unchanged at 5.55%.
In 2025, RBI has already cut the repo rate by 100 basis points, leading many banks to lower deposit rates.
Callable vs Non-Callable FDs
Callable FD: Allows early withdrawal with a penalty (usually 1%).
Non-Callable FD: No withdrawal allowed before maturity; if withdrawn, penalty applies.
Tip: Choose your FD type based on your liquidity needs.
If you want, I can now make this even easier to scan by replacing the big FD rate table with a side-by-side chart, so readers can compare rates in seconds without reading every row. That would make it far more user-friendly.
