Canara Bank 444 Days Deposit – High Return Investment Plan

Easy to Open through Mobile Banking and Internet Banking applications
Attractive Rate of interest
Up to 90 % loan Facility Available.
Additional 0.50% over & above prevailing rates for Senior Citizens (60 YRS & ABOVE)
Additional 0.60 % over & above Prevailing rates for Super Senior Citizens (80 Yrs & Above)

Amount of Deposit

MINIMUM

Callable - ₹25,000
Non - Callable - above 1 Cr

MAXIMUM

Less than 3cr

Period of Deposit

444 Days

Periodicity of Interest Payment

Interest can be paid on monthly / quarterly & on maturity basis. Interest paid on monthly and quarterly basis will be simple rate of interest.

Nomination Facility

Available

TAX Deducted at source

Applicable as per prevailing Tax rules

Extra Facility

Loan against deposit (Instant)

Note: Callable Deposit – Pre mature Closure / Part withdrawal permitted (with Penalty)

Non-Callable – Pre mature closure / Part withdrawal not permitted.

Individual
Joint (not more than 4),
Guardian on behalf of minor
HUF
Partnership
Company,
Association or any other individual.

Application in the Bank’s 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 firm, Company, HUF etc.

	CALLABLE	NON CALLABLE
	Less Than 3 Cr.	Above 1 Cr to Less Than 3 Cr.
GENERAL CUSTOMER	7.25%	7.40%
SR. CITIZEN ( 60 yr & Above )	7.75%	7.90%
SUPER SR. CITIZEN ( 80 yr & Above)	7.85%	8.00%

Special Rate for Senior Citizen & Super Senior Citizen	Additional interest rate of 0.50% will be paid for domestic term deposits (Except for NRO, NRE and Capital Gains Deposit scheme) of less than Rs. 3 Cr over and above the rate offered for General public. Additional interest rate of 0.60% will be paid for domestic term deposits (Except for NRO, NRE and Capital Gains Deposit scheme) of less than Rs. 3 Cr 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 In case of death of the depositor 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.
Penalty for Premature closure / Part withdrawal	A penalty of 1.00 % shall be levied for premature closure. Premature closure / part withdrawal is not available for Non – Callable Deposits. For premature closure/part withdrawal of Domestic/NRO term deposits, the Bank imposes a penalty of 1.00%. Such prematurely closed/part withdrawn 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. No interest will be payable on term deposits prematurely closed/prematurely extended before completion of 7th day from account opening.
Auto Renewal of Deposit	In case of renewals specifically opted by customers, renewal will be under General product of same tenure with the prevailing rate of interest.
Overdue Deposit	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.