DEPOSIT ACCOUNTS - RATES AT A QUICK GLANCE – as per RBI format

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. 27.11.2020

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*

2.95

2.98

2.95

2.98

46 days to 90 days

3.90

3.96

3.90

3.96

91 days to 179 days

4.00

4.06

4.00

4.06

180 days to less than 1 Year

4.45

4.52

4.95

5.04

1 year only

5.25

5.35

5.75

5.88

Above 1 year to less than 2 years

5.20

5.30

5.70

5.82

2 years & above to less than 3 years

5.40

5.51

5.90

6.03

3 years & above to less than 5 years

5.50

5.61

6.00

6.14

5 years & above to 10 Years

5.50

5.61

6.00

6.14

* 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 5.50 % 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 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.

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:
The overdue deposit (i.e. term deposit which has matured) will be paid interest at prevailing Savings Bank Rate for the overdue period. If such deposit is continued (entire amount or in part), the same will be treated as a fresh term deposit from the date of presentation, at the rate prevailing on the date of presentation for the period of fresh term deposit.
In case of a deposit which is renewed automatically on the due date (where no instructions for Auto Renewal was given by the depositor), prevailing SB rate will be paid for the period from the date of maturity till the date of closure of the deposit.

In case of a deposit which is renewed automatically on the due date (where no instructions for Auto Renewal was given on the date of opening the term deposit) and the depositor has requested for renewal for a different maturity period, interest at prevailing SB rate will be paid for the period from the date of maturity till the date of presentation for renewal of the deposit for a different maturity period. The same is applicable for an auto-renewed deposit presented for part renewal/alternate instructions which are different to the originally contracted terms of the deposit.

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. 27.11.2020

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

3.05

3.09

- NA - @

46 days to 90 days

3.10

3.14

3.15

3.19

91 days to 179 days

3.25

3.29

3.30

3.34

180 days to less than 1 Year

3.30

3.34

3.35

3.39

1 year only

4.00

4.06

4.05

4.11

Above 1 year to less than 2 years

3.90

3.96

3.95

4.01

2 years & above to less than 3 years

3.90

3.96

3.95

4.01

3 years & above to less than 5 years

3.40

3.44

3.45

3.49

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. 27.11.2020)

Rs. 2 Crore & above to less than Rs. 10 Crore (w.e.f. 27.11.2020)

Rate of Interest

(% per annum)

Annualised

Interest Yield (% per annum) *

Rate of Interest

(% per annum)

Annualised

Interest Yield (% per annum) *

1 year only

5.25

5.35

4.00

4.06

Above 1 year to less than 2 yrs

5.20

5.30

3.90

3.96

2 yrs & above to less than 3 yrs

5.40

5.51

3.90

3.96

3 yrs & above to less than 5 yrs

5.50

5.61

3.40

3.44

5 yrs & above to 10 yrs

5.50

5.61

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.

The overdue deposit (i.e. term deposit which has matured) will be paid interest at prevailing Savings Bank Rate for the overdue period.

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. 07.11.2020        (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

0.97

1.00

1.03

1.07

1.16

GBP

0.53

0.56

0.60

0.65

0.69

EUR

NIL

NIL

NIL

NIL

0.03

CAD

1.23

1.05

1.10

1.18

1.27

AUD

0.59

0.59

0.61

0.68

0.76

Interest rates on RFC Deposits w.e.f. 07.11.2020  (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

0.97

0.53

NIL

1.23

0.59

2 years & above but less than 3 years

1.00

0.56

NIL

1.05

0.59

3 years only

1.03

0.60

NIL

1.10

0.61