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INTEREST RATES

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

 

DOMESTIC/NRO/NRE SAVINGS BANK DEPOSITS - W.E.F. 01.09.2017

For outstanding balances upto Rs. 50 lakh

3.50%

For outstanding balances of above Rs. 50 lakh

4.00%

 

 

2. TERM DEPOSITS

A. Domestic

Rate of Interest (%) p.a.

 

For Deposits less than Rs.1 crore
w.e.f. 28.05.2018

Term Deposits (All Maturities)

General Public

Senior Citizen

Rate of Interest  (% p.a)

Annualised Interest yield **

Rate of Interest  (% p.a)

Annualised Interest yield **

7 days to 14 days *

4.20

4.20

4.70

4.70

15 days to 30 days

4.20

4.20

4.70

4.70

31 days to 45 days

4.50

4.50

5.00

5.00

46 days to 60 days

4.75

4.75

5.25

5.25

61 days to 90 days

4.75

4.75

5.25

5.25

91 days to 120 days

5.50

5.50

6.00

6.00

121 days to 179 days

5.75

5.75

6.25

6.25

180 days to 269 days

6.35

6.41

6.85

6.91

270 days to less than 1 year

6.35

6.46

6.85

6.97

1 year only

6.50

6.66

7.00

7.19

Above 1 year to less than 2 years

7.00

7.19

7.50

7.71

2 years & above to less than 3 years

6.20

6.55

6.70

7.11

3 years & above to less than 5 years

6.20

6.76

6.70

7.35

5 years & above to less than 8 years

6.00

6.94

6.50

7.61

8 years & above to 10 years                  

6.00

7.63

6.50

8.44

444 Days (Canara Shikhar Deposit)

7.05

7.24

7.55

7.77

555 Days (Canara Shikhar Deposit)

7.10

7.29

7.60

7.82

 

*Rates are applicable only for single deposit of Rs.5 lakhs & 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 an additional interest of 0.50% p.a to deposits of Senior Citizens for all maturity slabs.

Bank Offers  7.05 % p.a and 7.10%  p.a for periods of 444 days and 555 days respectively under Canara Shikhar Deposit Scheme for General Public.


Bank Offers  6.00 %  p.a for Canara Tax Saver Deposit scheme (General Public). Maximum deposit acceptable is Rs 1.50 lacs


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) 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.1 crore that are accepted /renewed on or after 04.02.2011.


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. TERM DEPOSITS
A. Domestic Rate of Interest (%) p.a.
  For Deposits Rs.1 crore & above

FOR RATE OF INTEREST ON DEPOSITS OF Rs 1 CRORE AND ABOVE, PLEASE CONTACT THE NEAREST BRANCH

 

 

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.1 crore

(w.e.f.28.05.2018)

Rate of Interest

(% per annum)

 

Annualised

Interest Yield

*

 

1 year only

6.50

6.66

Above 1 year to less than 2 yrs

7.00

7.19

2 yrs & above to less than 3 yrs

6.20

6.55

3 yrs & above to less than 5 yrs

6.20

6.76

5 yrs & above to less than 8 yrs

6.00

6.94

8 yrs & above to 10 yrs

6.00

7.63

For interest rates on deposits of Rs. 1 crore & above, please contact the Branch Manager.

* 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
  • Bank Offers 7.05% p.a.and 7.10% p.a. for periods of 444 days and 555 days respectively under Canara Shikhar Deposit Scheme (For deposits below Rs. 1 crore).

  • 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.1 Crore that are placed/renewed on or after 29.12.2011.
  • No penalty will be levied for premature closure/premature extension of NRE term deposits of Rs.1 Crore & above that are placed/renewed on or after 13.10.2012. 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. 01.06.2018 to 30.06.2018 (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

3.26

3.45

3.52

3.54

3.56

GBP

1.25

1.45

1.57

1.67

1.75

EUR

0.28

0.37

0.53

0.67

0.82

CAD

2.64

2.80

2.92

2.99

3.04

AUD

2.51

2.62

2.72

2.97

3.07

 

Note: - The above interest rates are applicable only for FCNR deposits of amount less than USD 1 Million (or its equivalent in other currencies). For FCNR deposit of USD 1 Million & above (or its equivalent in other currencies) please contact our branch.

 

Interest rates on RFC Deposits w.e.f. 01.06.2018 to 30.06.2018 (Interest rate % per annum)

PERIOD OF DEPOSIT

CURRENCY OF DEPOSITS

 

USD

GBP

EUR

CAD

AUD

SAVINGS BANK

0.40

NIL

NIL

NIL

0.04

1 month & above but less than 3 months

1.61

0.38

NIL

1.15

1.61

3 months & above but less than 6 months

2.07

0.60

NIL

1.29

1.80

6 months & above but less than 1 year

2.27

0.50

0.03

1.31

1.84

1 year & above but less than 2 years

3.26

1.25

0.28

2.64

2.51

2 years & above but less than 3 years

3.45

1.45

0.37

2.80

2.62

3 years only

 

3.52

1.57

0.53

2.92

2.72

“Note: - The above interest rates are applicable only for RFC deposits of amount less than USD 1 Million (or its equivalent in other currencies). For RFC deposit of USD 1 Million & above (or its equivalent in other currencies) please contact our branch.”