DOMESTIC/NRO/NRE SAVINGS BANK DEPOSITS - W.E.F. 21.12.2022

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 5 Cr

2.90

3

For outstanding Balance of Rs. 5 Cr to less than Rs 10 Cr

2.95

4

For outstanding Balance of Rs. 10 Cr to less than Rs 100 Cr

3.05

5

For outstanding Balance of Rs. 100 Cr to less than Rs 200 Cr

3.50

6

For outstanding Balance of Rs. 200 Cr to less than Rs 300 Cr

3.10

7

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

3.10

8

For outstanding Balance of Rs. 500 Cr to less than Rs 1000 Cr

3.40

9

For outstanding Balance of Rs. 1000 Cr & less than Rs. 2000 Cr

3.55

10

For outstanding Balance of Rs. 2000 Cr & above

4.00

 

 

 

2. TERM DEPOSITS

Rate of Interest (%) p.a.

For Deposits less than Rs.2 Crore
w.e.f. 16.11.2023
 

A. Domestic

 

 

 

Callable

Non Callable ( Rs.1 Crore & Above ) $

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. 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 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.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.


Penalty is waived for premature extension of Domestic / NRO term deposits of less than Rs.2 Crore during the tenure, where extension is for a period longer than the period originally agreed to.

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.

The revised Rates of Interest for Bulk Deposits (Callable) w.e.f 16.11.2023 are as under:

SLABS

PERIOD OF DEPOSIT

RATE OF INTEREST ( % P.A.)

Callable Deposits

2 Crore -
less than 10 Crore #

10 Crore & Above - upto 25 Crore

 Above 25 Crore -
upto 50 Crore

 Above 50 Crore - upto 100 Crore

 Above  100 Crore - upto 250  Crore

Above 250 Crore - upto 500 Crore

Above 500 Crore

1

7 Days to 45 Days

6.00

6.00

6.00

6.00

6.00

6.00

6.00

2

46 Days to 90 Days

6.25

6.25

6.30

6.40

6.50

6.60

6.60

3

91 Days to 179 Days

7.20

6.90

6.90

6.95

6.95

7.00

7.15

4

180 Days to 269 Days

7.40

7.05

7.05

7.10

7.10

7.15

7.40

5

270 Days to less than 1 Year

7.40

7.10

7.10

7.15

7.15

7.20

7.40

6

1 Year Only

7.40

7.15

7.15

7.20

7.25

7.30

7.45

8

Above 1 Year to less than 2 Years

6.80

6.80

6.80

6.80

6.80

6.80

6.80

9

2 Years & above to less than 3 Years

6.25

6.25

6.25

6.25

6.25

6.25

6.25

10

3 Years & above to less than 5 Years

5.00

5.00

5.00

5.00

5.00

5.00

5.00

11

5 Years & above to 10 Years

5.00

5.00

5.00

5.00

5.00

5.00

5.00

The revised Rates of Interest for Bulk Deposits (Non-Callable) w.e.f 16.11.2023 are as under:

SLABS

PERIOD OF DEPOSIT

RATE OF INTEREST ( % P.A.)

Non - Callable Deposits ($)

2 Crore -
less than 10 Crore #

10 Crore & Above - upto 25 Crore

 Above 25 Crore -
upto 50 Crore

 Above 50 Crore - upto 100 Crore

 Above  100 Crore - upto 250  Crore

Above 250 Crore - upto 500 Crore

Above 500 Crore

1

7 Days to 45 Days

NA

NA

NA

NA

NA

NA

NA

2

46 Days to 90 Days

6.30

6.30

6.35

6.45

6.55

6.65

6.65

3

91 Days to 179 Days

7.25

6.95

6.95

7.00

7.00

7.05

7.20

4

180 Days to 269 Days

7.45

7.10

7.10

7.15

7.15

7.20

7.45

5

270 Days to less than 1 Year

7.45

7.15

7.15

7.20

7.20

7.25

7.45

6

1 Year Only

7.45

7.20

7.20

7.25

7.30

7.35

7.50

8

Above 1 Year to less than 2 Years

6.85

6.85

6.85

6.85

6.85

6.85

6.85

9

2 Years & above to less than 3 Years

6.30

6.30

6.30

6.30

6.30

6.30

6.30

10

3 Years & above to less than 5 Years

5.05

5.05

5.05

5.05

5.05

5.05

5.05

11

5 Years & above to 10 Years

5.05

5.05

5.05

5.05

5.05

5.05

5.05

 

* For interest rates of single domestic bulk term deposit of Rs.10 Crore and above, Kindly Contact the nearest Branch.

** 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.

 

++ Non-callable term deposits are Bulk deposits where PREMATURE WITHDRAWAL IS NOT PERMITTED. Auto Renewal facility is not available for Non-callable deposits.

 

@Bank is not accepting Term Deposits under Non-callable segment for maturities of below 46 Days and 3 Years and above.

 

Penalty Clause for Bulk Deposits (Above 2 Crore)

A penalty of 1.00% is waived in case of premature closure/part withdrawal/ premature extension of Domestic/NRO CALLABLE term deposit of Rs. 2 Crore & above that are accepted/renewed on or after 12.03.2019.

Such prematurely closed/part withdrawn/prematurely extended deposits will earn interest at the rate as applicable for the amount slab of Rs.2 Crore & above as ruling on the date of deposit and as applicable for the period run OR the rate at which the deposit has been accepted, whichever is lower.

However, a penalty of 1.00% shall be levied for premature closure/part withdrawal/ premature extension of Domestic/NRO term deposits of Rs.1 Crore & above that are accepted /renewed from 04.02.2011 to 12.10.2012.

Further, no interest will be payable on term deposits prematurely closed/prematurely extended before completion of 7th day.

NON RESIDENT ACCOUNTS

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.2 Crore

Rs. 2 Crore & above to less than Rs. 10 Crore (w.e.f. 16.11.2023)

Above Rs.1.00 Crore to Less than RS.2.00 Crore

Rs. 2 Crore & above to less than Rs. 10 Crore (w.e.f. 16.11.2023)

(w.e.f. 16.11.2023)

(w.e.f. 16.11.2023)

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%

7.40

7.61%

7.00%

7.19%

7.45

7.66%

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%

6.85

7.03%

2 years & above to less than 3 years.

6.85

7.03%

6.25

6.40%

7.00%

7.19%

6.30

6.45%

3 years & above to less than 5 years.

6.8

6.98%

5.00

5.09%

NA

NA

5.05

5.15%

5 years & above to 10 years.

6.7

6.87%

5.00

5.09%

NA

NA

5.05

5.15%

 

#Bank has introduced a special DOMESTIC/NRE/NRO Retail Term deposit scheme for 444 Days with higher rate of interest with effect from 05.04.2023.

* 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 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 of NRE term deposits of Rs.1 Crore & above that are placed /renewed from 29.12.2011 to 12.10.2012.

Penalty is waived for premature extension of NRE term deposits of less than Rs.2 Crore during the tenure, where extension is for a period longer than the period originally agreed to.

 

Interest rates on FCNR (B) Deposits w.e.f. 12.11.2023 (Interest rate % per annum)

CURRENCY OF

DEPOSIT

USD

GBP

EURO

CAD

AUD

PERIOD OF DEPOSIT

RATE

YIELD*

RATE

YIELD*

RATE

YIELD*

RATE

YIELD*

RATE

YIELD*

1 year to less than 2 years

5.50

5.82

5.00

5.26

2.50

2.58

4.50

4.72

3.60

3.74

2 years to less than 3 years

4.30

4.60

3.00

3.16

2.00

2.08

4.00

4.26

3.50

3.71

3 years to less than 4 years

4.00

4.35

2.50

2.65

1.50

1.56

3.85

4.18

3.00

3.21

4 years to less than 5 years

4.00

4.45

2.50

2.68

1.50

1.57

3.50

3.85

3.00

3.26

5 years

4.00

4.45

2.50

2.68

1.50

1.57

3.50

3.85

3.00

3.26

* Annualized yield at the end of the period.

        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. 12.11.2023  (Interest rate % per annum)

PERIOD OF DEPOSIT

CURRENCY OF DEPOSITS

 

USD

GBP

EUR

CAD

AUD

SAVINGS BANK  

0.10

0.10

NIL

NIL

NIL

1 month & above but less than 3 months

0.10

NA

NA

0.10

0.10

3 months & above but less than 6 months

0.10

NA

NA

0.10

0.10

6 months & above but less than 1 year

0.10

NA

NA

0.10

0.10

1 year & above but less than 2 years

5.50

5.00

2.50

4.50

3.60

2 years & above but less than 3 years

4.30

3.00

2.00

4.00

3.50

3 years only

 

4.00

2.50

1.50

3.85

3.00

“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.”