Canara Bank Fixed Deposit - FD Interest Rates, Calculator - Wishfin

Canara Bank Fixed Deposit

About Canara Bank Fixed Deposit

Fixed Deposit is the ideal way to invest for a longer period of time and earn solid interest. It’s easy liquidity and high rates of return assure the safety of the depositor’s money. Several banks allow the premature withdrawal of the funds invested. Canara Bank is one amongst them.

It allows the customer to invest the amount for the flexible tenure ranging from 15 days to 10 years. The customer can withdraw the amount in parts as and when he needs or can close the fixed deposit before its maturity. This facility is available on Canara Fixed Deposit and Canara Kamadhenu Deposit. However, this facility is not applicable on Canara Tax Saver Scheme.

Fixed Deposit Interest Rate

On amount less than ₹2 Crore (w.e.f. 26.02.2020)

TenureGeneralSenior Citizen
Interest RateInterest Rate
7 days-14 days4.50% p.a.4.58% p.a.
15 days to 30 days4.50% p.a.4.58% p.a.
31 days to 45 days4.50% p.a.4.58% p.a.
46 days to 90 days5.00% p.a.5.09% p.a.
91 days to 120 days5.35% p.a.5.46% p.a.
121 days to 179 days5.35% p.a.5.46% p.a.
180 days to 269 days5.75% p.a.5.88% p.a.
270 days to less than 1 year5.75% p.a.5.88% p.a.
1 year 6.15% p.a.6.29% p.a.
Above 1 year to less than 2 years6.00% p.a.6.14% p.a.
2 years & above to less than 3 years6.00% p.a.6.80% p.a.
3 years & above to less than 5 years6.25% p.a.6.40% p.a.
5 years & above to less than 8 years6.25% p.a.6.40% p.a.
8 years & above to 10 years6.25% p.a.6.40% p.a.

Types of Fixed Deposit Scheme

  1. Canara Bank Fixed Deposit

You can invest in the Canara Bank Fixed Deposit with the minimum amount of 1,000 and receive interest as per your requirement. You can also avail of the loan facility against the amount of investment.

Minimum Deposit Amount₹1,000
Maximum Deposit AmountNo ceiling
Minimum Tenure15 days (7 days in case of single deposit of ₹5 lac and above)
Maximum Tenure120 months
Interest Payment FrequencyMonthly, quarterly, half-yearly or annually
Special Rate for Senior CitizenAdditional interest of 0.50%
Premature WithdrawalPermitted
Partial WithdrawalPermissible in units of ₹1,000
Nomination FacilityAvailable
Loan Against DepositAvailable
  1. Canara Bank Kamadhenu Deposit (Reinvestment Plan)

Under this scheme, the investor’s deposit is automatically renewed for the same time period. The interest on the fixed deposit is paid at the time of maturity. Senior citizens are entitled to extra interest benefit of 0.50%.

Minimum Deposit Amount₹1,000
Maximum Deposit AmountNo ceiling
Minimum Tenure5 Months
Maximum Tenure120 months
Interest Payment At Maturity
Premature WithdrawalAllowed, penalty charged(1% on deposits of less than 1cr.),(No penalty levied on amount of 1cr. & above)
Auto-Renewal FacilityAvailable
Nomination FacilityAvailable
Special Rate for Senior CitizenAdditional interest of 0.50%
Loan FacilityAvailable (upto 90%)
EligibilityIndividual, Joint(not more than 4), a guardian on behalf of minor, HUF, Partnership & Company, Association or any other institution
DocumentsApplication in the Bank's Prescribed Form

Copy of PAN Card/ Form 60 or 61(if customer doesnot have PAN)

2 Photographs of depositor/s

Proof of identity & address as per KYC Norms

Any other related documents as applicable to proprietorship concern, Partnership Firm, Company, HUF etc.

  1. Canara Tax Saver Scheme

The Tax Saver Scheme is beneficial for the salaried class, businessmen, and professionals, who come under the ambit of taxpayers. You can invest in this scheme with the minimum amount of ₹100.  The investment can be made individually or combined. However, in case of joint account, the income deduction under Section 80C, of the Income Tax Act 1961, shall be available to the first holder of the deposit.


Individual – Single Accounts, Two or more individuals – Joint Accounts, Sole Proprietary Concerns, Partnership Firms, Limited Liability Companies, Association, Clubs, Societies, Trusts, etc., Minors, Blind Persons, Illiterate Persons, Joint Hindu Families, Municipalities, Panchayats, Govt. & Quasi Government Bodies, Religious, Educational, Charitable Institutions, etc. are eligible to invest in this scheme


An Individual, Hindu Undivided Family, Sole Proprietorship ConcernID Proof, Address Proof, A photograph
TrustsCopy of the Trust Deed, Copy of the registration certificate, Copy of the Resolution of The Trustees, Authorising the members concerned to open and operate the account, Photographs of the members operating the account
Associations / ClubsBy-laws of the Association, Copy of the Resolution by the board authorising the members concerned to open and operate the account, Photographs of the members operating the account
Partnership Firm Partnership Deed, Letter from partners approving the persons concerned to open and operate the account, Photographs of the persons operating the account
ID Proof Address Proof
PAN CardTelephone Bill
Driving LicenceElectricity Bill
Voter ID ID Card Issued by Post Office
Government ID Card Bank Statement with Cheque
Senior Citizen ID CardAny other ID proof or address proof document can be submitted subject to bank's satisfaction

How to Apply

You can invest in any of the above schemes as per your eligibility. These schemes are available in all bank branches.

For other details, you can call on the toll-free number 1800 425 0018

Canara Bank Fixed Deposit Calculator

The calculator helps you to calculate the maturity value of the investment. It finds out the amount of interest earned on the principal value over the period of investment.

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