NATURE

MINIMUM AVERAGE MONTHLY BALANCE w.e.f. 01.04.2015.

SAVINGS BANK A/C

Rural

Semi Urban

Urban/Metro

a. Savings Bank Account (with cheque Book facility)

Rs.500/-

Rs.1000/-

Rs1000/-

b. Savings Bank Account (without cheque Book facility)

Rs.500/-

Rs.1000/-

Rs1000/-

c. Canara Basic Savings Bank Deposit Account

NIL

NIL

NIL

d. Canara Small Savings Bank Deposit Account

NIL

NIL

NIL

e. Canara NSIGSE (National Scheme of Incentive to Girls for Secondary Education) Savings Bank Deposit Account

NIL

NIL

NIL

S.No.

Slabs

ROI(%)

1

For outstanding Balance of less than Rs. 50 Lakh

2.90%

2

For outstanding Balance of Rs. 50 Lakh to less than Rs 100 Cr

2.90%

3

For outstanding Balance of Rs. 100 Cr to less than Rs 300 Cr

3.00%

4

For outstanding Balance of Rs. 300 Cr to less than Rs 500 Cr

3.05%

5

For outstanding Balance of Rs 500 Cr & above

3.20%

2. TERM DEPOSITS

A. Domestic

Rate of Interest (%) p.a.

For Deposits less than Rs.2 Crore
w.e.f. 09.08.2021

Term Deposits (All Maturities)

                                         General Public

                                  Senior Citizen

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*

2.90

2.93%

2.90

2.93%

46 days to 90 days

3.90

3.96%

3.90

3.96%

91 days to 179 days

3.95

4.01%

3.95

4.01%

180 days to less than 1 Year

4.40

4.47%

4.90

4.99%

1 year only

5.10

5.20%

5.60

5.72%

Above 1 year to less than 2 years

5.10

5.20%

5.60

5.72%

2 years & above to less than 3 years

5.10

5.20%

5.60

5.72%

3 years & above to less than 5 years

5.25

5.35%

5.75

5.88%

Canara Unique “1111 Days”

5.35

5.46%

5.85

5.98%

5 years & above to 10 Years

5.25

5.35%

5.75

5.88%

* Canara Unique Retail Term Deposit Scheme of “1111 Days” with additional rate of interest of 0.10% over and above the rate for the tenor of the deposit.

* Rates are applicable only for single deposit of Rs.5 Lakh & above. Minimum period for renewal of domestic/NRO term deposits is 7 days irrespective of the size of deposit. Below Rs.5 Lakh, Minimum tenor of deposit is 15 Days.

# Additional interest of 0.50% for Senior Citizens is to be made available for Deposits (Other than NRO/NRE and CGA Deposits) less than Rs. 2 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 5.25 % p.a. for Canara Tax Saver Deposit scheme (General Public). Maximum deposit acceptable is Rs 1.50 Lakh.

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 Unique Deposits, Canara Tax Saver Deposits, Capital Gains Accounts, Court Deposits, Non-KYC Complied Term Deposits, Canara Samriddhi deposits (discontinued w.e.f. 01.10.2015), Canara Khazana and Shikhar Deposits (discontinued w.e.f. 26.03.2020), 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.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.” However, no interest will be payable on term deposits prematurely closed/prematurely extended before completion of 7th day.

OVERDUE DEPOSITS:
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.

3.  DOMESTIC BULK TERM DEPOSITS

  Domestic

Rate of Interest (% p.a.)

For Deposits Rs. 2 Crore & above to less than Rs. 10 Crore *

w.e.f. 09.08.2021

Term Deposits (All Maturities)

Callable

Non-Callable ++

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

2.90

2.93%

- NA - @

46 days to 90 days

3.10

3.14%

3.10

3.14%

91 days to 179 days

3.25

3.29%

3.25

3.29%

180 days to less than 1 Year

3.25

3.29%

3.25

3.29%

1 year only

3.65

3.70%

3.65

3.70%

Above 1 year to less than 2 years

3.65

3.70%

3.65

3.70%

2 years & above to less than 3 years

3.65

3.70%

3.65

3.70%

3 years & above to less than 5 years

3.40

3.44

3.40

3.44%

5 years & above to 10 Years

3.40

3.44

No Quotes @

NON RESIDENT ACCOUNTS 

a. NRO – all maturities

Same as applicable to Domestic Term Deposits

b. NRE –Term deposits

Rate of interest (%) per annum

Period of Deposit

Less than Rs.2 Crore

(w.e.f. 09.08.2021)

Rs. 2 Crore & above to less than Rs. 10 Crore (w.e.f. 09.08.2021)

Rate of Interest

(% per annum)

Annualised

Interest Yield (% per annum) *

Rate of Interest

(% per annum)

Annualised

Interest Yield (% per annum) *

1 year only

5.10

5.20

3.65

3.70%

Above 1 year to less than 2 yrs

5.10

5.20

3.65

3.70%

2 yrs & above to less than 3 yrs

5.10

5.20

3.65

3.70%

3 yrs & above to less than 5 yrs

5.25

5.35

3.40

3.44%

5 yrs & above to 10 yrs

5.25

5.35

3.40

3.44%

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

No interest will be payable for the period run on NRE term deposits prematurely closed/ prematurely extended before completion of one year from the effective date of the deposit

NRE Term deposits are auto renewed only once as the Non resident status is to be confirmed.

Overdue NRE deposits will be paid interest as applicable to Savings account from the date of maturity till the date of payment/ re-investment.

PENALTY:

A penalty of 1.00% will be levied for premature closure/premature extension of NRE term deposits of less than Rs.2 Crore that are placed/renewed on or after 12.03.2019.

No penalty will be levied for premature closure/premature extension of NRE term deposits of Rs.2 Crore & above that are placed/renewed on or after 12.03.2019.

However, a penalty of 1.00% shall be levied for premature closure/premature extension of NRE term deposits of Rs.1 Crore & above that are placed /renewed from 29.12.2011 to 12.10.2012.

Interest rates on FCNR (B) Deposits w.e.f. 07.09.2021        (Interest rate % per annum)

CURRENCY OF

DEPOSIT

1 Year and above but less than 2 years

2 years and above but less than 3 years

3 years and above but less than 4 years

4 years and above but less than 5 years

Five years only

USD

0.82

0.96

1.19

1.37

1.52

GBP

0.63

0.88

0.98

1.04

1.09

EUR

NIL

NIL

NIL

0.01

0.06

CAD

0.98

1.21

1.43

1.59

1.69

AUD

0.50

0.65

0.85

1.05

1.22

Interest rates on RFC Deposits w.e.f. 07.09.2021  (Interest rate % per annum)

PERIOD OF DEPOSIT

CURRENCY OF DEPOSITS

USD

GBP

EUR

CAD

AUD

SAVINGS BANK  

NIL

NIL

NIL

NIL

NIL

1 month & above but less than 3 months

NIL

NIL

NIL

NIL

NIL

3 months & above but less than 6 months

0.09

NIL

NIL

0.02

NIL

6 months & above but less than 1 year

NIL

NIL

0.03

NIL

NIL

1 year & above but less than 2 years

0.82

0.63

NIL

0.98

0.50

2 years & above but less than 3 years

0.96

0.88

NIL

1.21

0.65

3 years only

1.19

0.98

NIL

1.43

0.85