2. TERM DEPOSITS

Rate of Interest (%) p.a.

For Deposits less than Rs.3 Crore
w.e.f. 11.06.2024

A. Domestic

Less than Rs.3 Crore

Callable

Non Callable ( Above Rs.1 Crore ) $

Term Deposits (All Maturities)

General Public

Senior Citizen

General Public

Senior Citizen

Rate of Interest (% p.a.)

Annualised Interest yield (% p.a.) **

Rate of Interest (% p.a.) #

Annualised Interest yield (% p.a.) **

Rate of Interest (% p.a.)

Annualised Interest yield (% p.a.) **

Rate of Interest (% p.a.) #

Annualised Interest yield (% p.a.) **

7 Days to 45 Days

4.00

4.06%

4.00

4.06%

NA

NA

NA

NA

46 Days to 90 Days

5.25

5.35%

5.25

5.35%

5.35

5.46%

5.35

5.46%

91 Days to 179 Days

5.50

5.61%

5.50

5.61%

5.60

5.72%

5.60

5.72%

180 Days to 269 Days

6.15

6.29%

6.65

6.82%

6.25

6.40%

6.75

6.92%

270 Days to less than 1 Year

6.25

6.40%

6.75

6.92%

6.35

6.50%

6.85

7.03%

1 Year Only

6.85

7.03%

7.35

7.56%

7.00

7.19%

7.50

7.71%

444 Days

7.25

7.45%

7.75

7.98%

7.40

7.61%

7.90

8.14%

Above 1 Year to less than 2 Years

6.85

7.03%

7.35

7.56%

7.00

7.19%

7.50

7.71%

2 Years & above to less than 3 Years

6.85

7.03%

7.35

7.56%

7.00

7.19%

7.50

7.71%

3 Years & above to less than 5 Years

6.80

6.98%

7.30

7.50%

NA

NA

NA

NA

5 Years & above to 10 Years

6.70

6.87%

7.20

7.40%

NA

NA

NA

NA

$-Non-callable term deposits are deposits where PREMATURE WITHDRAWAL IS NOT PERMITTED.

* Rates are applicable only for single deposit of Rs.5 Lakh & above. Below Rs.5 Lakh, Minimum tenor of deposit is 15 Days.

# Additional interest of 0.50% for Senior Citizens is available for Deposits (Other than NRO/NRE and CGA Deposits) less than Rs. 3 Cr and with tenor of 180 Days and above.

** Approximate Annualized Yield in % terms at the beginning of the slab. Effective Annualized rate of return on Bank’s Re-investment Deposit Plan (Kamadhenu Deposit) is based on quarterly compounding of interest.

Bank Offers 6.70 % p.a. for Canara Tax Saver Deposit scheme (General Public). Maximum deposit acceptable is Rs 1.50 Lakh.
Additional rate of interest 0.60% for Super Senior Citizen(80 years and above) is introduced under Canara-444 product only i.e. 7.85% for callable deposits and 8% for non callable deposits

The above Rate of interest is applicable to Recurring deposits also.

AUTO RENEWAL FACILITY:

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 for Canara Tax Saver Deposits, Capital Gains Accounts, Court Deposits, Non-KYC Complied Term Deposits, Canara Samriddhi deposits (discontinued w.e.f. 01.10.2015),CanaraKhazana, CanaraShikhar Deposits (discontinued w.e.f. 26.03.2020),Canara Unique Deposits(discontinued w.e.f. 31.03.2022), CanaraAmrit (discontinued w.e.f. 26.01.2022), Non-callable deposits etc.)

PENALTY:
A penalty of 1.00% shall be levied for premature closure/part withdrawal/ premature extension of Domestic/NRO term deposits of less than Rs.3 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.” However, no interest will be payable on term deposits prematurely closed/prematurely extended before completion of 7th day.

Penalty is waived for premature extension of Domestic / NRO term deposits of less than Rs.3 Crore during the tenure, where extension is for a period longer than the period originally agreed to.

*- Special Retail Term Deposit Scheme of 444 days is introduced w.e.f 05.04.2023 for Domestic/NRO/NRE Retail Term deposits of below Rs.3 Crore without automatic renewal facility for Non-callable deposits.

@- Bank is not accepting term deposits under Non-Callable segment for maturities of below 46 Days for Domestic/NRO, maturities of below 1 year for NRE and 3 years and above for deposit Above Rs.1 Crore to less than Rs.3 Crore.

REVISED ROI FOR NON-RESIDENT ACCOUNTS W.E.F 03.09.2024

a. NRO – all maturities

Same as applicable to Domestic Term Deposits

b. NRE –Term deposits

Rate of interest (%) per annum

CALLABLE

NON-CALLABLE

Period of Deposit

Less than Rs.3 Crore

Rs. 3 Crore & above to less than Rs. 10 Crore (w.e.f. 03.09.2024)

Above Rs.1.00 Crore to Less than RS.3.00 Crore

Rs. 3 Crore & above to less than Rs. 10 Crore (w.e.f. 03.09.2024)

(w.e.f. 11.06.2024)

(w.e.f. 11.06.2024)

Rate of Interest

Annualised

Rate of Interest

Annualised

Rate of Interest

Annualised

Rate of Interest

Annualised

(% per annum)

Interest Yield (% per annum) *

(% per annum)

Interest Yield (% per annum) *

(% per annum)

Interest Yield (% per annum) *

(% per annum)

Interest Yield (% per annum) *

1 year only.

6.85

7.03%

7.65

7.87

7.00

7.19%

7.68

7.90

444 Days

7.25

7.45%

NA

NA

7.40

7.61%

NA

NA

Above 1 year to less than 2 years.

6.85

7.03%

6.80

6.98%

7.00

7.19%

6.83

7.01%

2 years & above to less than 3 years.

6.85

7.03%

6.25

6.40%

7.00

7.19%

6.28

6.43%

3 years & above to less than 5 years.

6.80

6.98%

5.00

5.09%

NA @

NA @

5.03

5.13%

5 years & above to 10 years.

6.70

6.87%

5.00

5.09%

NA @

NA @

5.03

5.13%

PERIOD OF DEPOSIT

CURRENCY OF DEPOSITS

USD<100000

USD>=100000

GBP

EUR

CAD

AUD

SAVINGS BANK  

0.10

0.10

0.10

NIL

NIL

NIL

1 month & above but less than 3 months

0.10

0.10

NA

NA

0.10

0.10

3 months & above but less than 6 months

0.10

0.10

NA

NA

0.10

0.10

6 months & above but less than 1 year

0.10

0.10

NA

NA

0.10

0.10

1 year & above but less than 2 years

5.35

5.40

5.00

3.00

4.50

4.00

2 years & above but less than 3 years

4.00

4.00

3.00

2.00

4.00

3.50

3 years only

3.70

3.70

2.50

1.50

3.85

3.00