Individual, Joint (not more than 4), a Guardian on behalf of a minor, HUF, Partnership, a Company, Association or any other Institution
Minimum Rs.1000/- Maximum - No ceiling (Can be deposited in odd amount also)
PERIOD OF DEPOSIT
Minimum 5 months Maximum 120 months (can be for odd period also)
Depending upon the period of the deposit as prevailing from time to time. Interest compounded quarterly. Visit our Deposits Interest rate Page here
PERIODICITY OF INTEREST PAYMENT
SPECIAL RATE FOR SENIOR CITIZEN
Additional interest rate of 0.50% will be paid for domestic term deposits (including RD and except for NRO, NRE and Capital Gains Deposit scheme) of less than Rs. 2 Cr and with tenor of 180 Days and above, over and above the rate offered for General public.
The system will automatically enable preferential ROI of 0.50% to all existing eligible Domestic Term Deposits and RD Deposits from the date of Customer attaining Senior Citizen status w.e.f. 24.07.2018
In case of death of the Senior Citizen before the date of maturity, the deposit may be continued with the contracted interest rate only if there is no change to the other contracted terms.
Available upto 90% of the deposit amount
PENALTY FOR PREMATURE CLOSURE /PART WITHDRAWAL/PREMATURE EXTENSION OF DEPOSITS:
A penalty of 1.00% shall be levied for premature closure/part withdrawal/premature extension of Domestic/NRO term deposits of less than Rs. 2 Crore that are accepted /renewed on or after 12.03.2019
For premature closure/part withdrawal/premature extension of Domestic/NRO term deposits, the Bank imposes a penalty of 1.00%. Such prematurely closed/part withdrawn/prematurely extended deposits will earn interest at 1.00% below the rate as applicable for the relevant amount slab as ruling on the date of deposit and as applicable for the period run OR 1.00% below the rate at which the deposit has been accepted, whichever is lower.”
A penalty of 1.00% is waived in case of premature closure/part withdrawal/ premature extension of Domestic/NRO CALLABLE term deposit of Rs. 2 Crore & above that are accepted/renewed on or after 12.03.2019. However, a penalty of 1.00% shall be levied for premature closure/part withdrawal/premature extension of Domestic/NRO term deposits of Rs.1 Crore & above that are accepted /renewed from 04.02.2011 to 12.10.2012
Such prematurely closed/part withdrawn/prematurely extended deposits will earn interest at the rate as applicable for the amount slab of Rs.2 Crore & above as ruling on the date of deposit and as applicable for the period run OR the rate at which the deposit has been accepted, whichever is lower
No interest will be payable on term deposits prematurely closed/prematurely extended before completion of 7th day.
A penalty of 1.00% is applicable on Term Deposits under Capital Gains Account Scheme-1988, which are prematurely converted/withdrawn/closed, irrespective of the size of the deposit amount.
· Facility of part withdrawal of deposits in units of Rs.1000/- keeping the rest of the deposit to earn contracted rate of interest, available.
AUTO RENEWAL OF DEPOSIT
Deposit shall be renewed automatically for a similar period on the date of maturity at the rate of interest applicable for the period as on the date of maturity, in the absence of any renewal instructions well in advance. Proof of address as per KYC Norms
Auto Renewal facility is not available for Canara Tax Saver Deposits, Capital Gains Accounts, Canara Samriddhi deposits(discontinued w.e.f. 01.10.2015), Canara Khazana and Shikhar Deposits (discontinued w.e.f. 26.03.2020) and Non-callable deposits.
The deposit will be renewed automatically from the date of maturity for a similar period at the interest rate prevailing on the date of maturity for the original period of deposit (except Special deposits, NRE deposits, Capital Gains Scheme, Canara Tax Saver Scheme, Court Deposits, Non-callable term deposits, etc.)
If a Domestic Term Deposit matures and proceeds are unpaid, the amount left unclaimed with the Bank shall attract rate of interest as applicable to saving account or the contracted rate of interest on the matured Term Deposit, whichever is lower.
APPLICATION & DOCUMENTS
Application in the Banks’ prescribed form.
Copy of PAN Card / Form 60 or 61 (if customer does not have PAN Card).
Photograph of Depositor/s (2 copies).
Proof of Identity and address as per KYC Norms.
Any other related documents as applicable to proprietor ship concern, Partnership
Customers are requested to call on our mentioned Toll Free Numbers only for any complaints/issues. Bank shall not be responsible for any consequences arising out of customers calling any other unverified numbers.