Canara Bank, the public sector lender, had put out revised interest rates for its Fixed Deposits (FDs), which were set to take effect from August 9, 2021. The bank allows customers to avail of term deposits of a minimum of seven days and all the way up to 10 years. It also allows domestic or NRO term deposits to be renewed for a minimum of seven days irrespective of the deposit amount. There is, however, a waiting period for the renewal depending on the deposit amount. For any amount below Rs 5 lakh, the waiting period is 15 days. Following the renewal of its interest rates, here is the breakdown of those rates as per the different categories.
Canara Bank Revised FD Interest Rates for Regular Citizens
The lender issued revised interest rates for regular citizens from 7 days to 10 years for deposits under Rs 2 crore. This takes effect from August 9, 2021.
7 days to 45 days – 2.90 per cent per annum
46 days to 90 days – 3.90 per cent per annum
91 days to 179 days – 3.95 per cent per annum
180 days to less than 1 year – 4.40 per cent per annum
1 year only – 5.10 per cent per annum
Above 1 year to less than 2 years – 5.10 per cent per annum
2 years and above to less than 3 years – 5.10 per cent per annum
3 years and above to less than 5 years – 5.25 per cent per annum
Canara Unique ‘111 Days’ – 5.35 per cent per annum
5 years and above to 10 years – 5.25 per cent per annum
Canara Bank Revised FD Interest Rates for Senior Citizens
Canara Bank had revised the interest rates for senior citizens as well, however, this category of customers will continue to get an additional rate of 0.50 per cent on their term deposits. It should be noted that the additional interest that seniors can avail takes effect from the bracket of 180 days to less than 1 year. The brackets preceding it have the same interest rates as that of regular citizens.
7 days to 45 days – 2.90 per cent per annum
46 days to 90 days – 3.90 per cent per annum
91 days to 179 days – 3.95 per cent per annum
180 days to less than 1 year – 4.90 per cent per annum
1 year only – 5.60 per cent per annum
Above 1 year to less than 2 years – 5.60 per cent per annum
2 years and above to less than 3 years – 5.60 per cent per annum
3 years and above to less than 5 years – 5.75 per cent per annum
Canara Unique ‘111 Days’ – 5.85 per cent per annum
5 years and above to 10 years – 5.75 per cent per annum
Canara Bank Revised FD Interest Rates for Bulk Deposits
For the bulk deposits, the bank revised its interest rates for the bracket of Rs 2 crore and above to less than 10 crore.
Callable
7 days to 45 days – 2.90 per cent per annum
46 days to 90 days – 3.1 per cent per annum
91 days to 179 days – 3.25 per cent per annum
180 days to less than 1 year – 3.25 per cent per annum
1 year only – 3.65 per cent per annum
Above 1 year to less than 2 years – 3.65 per cent per annum
2 years and above to less than 3 years – 3.65 per cent per annum
3 years and above to less than 5 years – 3.40 per cent per annum
5 years and above to 10 years – 3.40 per cent per annum
Non-Callable ++
7 days to 45 days – Not Applicable
46 days to 90 days – 3.1 per cent per annum
91 days to 179 days – 3.25 per cent per annum
180 days to less than 1 year – 3.25 per cent per annum
1 year only – 3.65 per cent per annum
Above 1 year to less than 2 years – 3.65 per cent per annum
2 years and above to less than 3 years – 3.65 per cent per annum
3 years and above to less than 5 years – 3.40 per cent per annum
5 years and above to 10 years – No Quotes
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