Canara Bank revises interest rates on fixed deposits of less than Rs. 2 Cr

Canara Bank Interest rates on fixed deposits for non-senior citizens

Canara Bank is offering an interest rate of 2.90% on deposits of less than Rs. 2 crore maturing in 7 days to 45 days for the general public from 17 January 2022. Deposits maturing in 46 days to 90 days and 91 days to 179 days will now pay 3.90% and 3.95% interest respectively. On term deposits maturing in 180 days to less than 1 year and 1 year to less than 2 years, the general public will now receive interest rates of 4.40% and 5.00%, respectively.

Non-senior citizens will now enjoy interest rates of 5.10%, 5.25% and 5.35% on deposits maturing in two years or less than three years, three years or less than five years, and Single Canara “1111 Days”. Canara Bank now offers an interest rate of 5.25% and 5.40% to the general public on their term deposits maturing in 5 years and over up to 10 years and Canara Amrit “75 months”.

tenors Interest rate (% pa) Annualized interest yield (% pa)
7 days to 45 days 2.9 2.93%
46 days to 90 days 3.9 3.96%
91 days to 179 days 3.95 4.01%
180 days to less than 1 year 4.4 4.47%
1 year only 5 5.09%
More than 1 year to less than 2 years 5 5.09%
2 years and over to less than 3 years 5.1 5.20%
3 years and more to less than 5 years 5.25 5.35%
Single Canara “1111 Days” 5.35 5.46%
5 years and over to 10 years 5.25 5.35%
Canara Amrit “75 months” 5.4 5.51%
Source: Bank website. Wed 17.01.2022
Canara Bank Fixed Deposit Interest Rates for Seniors

Canara Bank Fixed Deposit Interest Rates for Seniors

Canara Bank is also offering senior citizens an additional interest rate of 0.50% on deposits (other than NRO/NRE and CGA deposits) of less than Rs. 2 crores maturing in 180 days or more.

tenors Interest rate (% pa) Annualized interest yield (% pa)
7 days to 45 days* 2.9 2.93%
46 days to 90 days 3.9 3.96%
91 days to 179 days 3.95 4.01%
180 days to less than 1 year 4.9 4.99%
1 year only 5.5 5.61%
More than 1 year to less than 2 years 5.5 5.61%
2 years and over to less than 3 years 5.6 5.72%
3 years and more to less than 5 years 5.75 5.88%
Single Canara “1111 Days” 5.85 5.98%
5 years and over to 10 years 5.75 5.88%
Canara Amrit “75 months” 5.9 6.03%
Source: Bank website. Wed 17.01.2022
Canara Bank NRO-NRE Deposit Interest Rates

Canara Bank NRO-NRE Deposit Interest Rates

With effect from 17 January 2022, the bank has also revised its interest rates on NRO and NRE term deposits. On NRO and NRE deposits below Rs. 2 Cr, the bank currently gives the following interest rates.

Mandate Interest rate (% pa) on deposit of less than Rs.2 Cr Annualized interest yield (% pa)
1 year only 5 5.09
More than 1 year to less than 2 years 5 5.09
2 years and over to less than 3 years 5.1 5.2
3 years and more to less than 5 years 5.25 5.35
Single Canara “1111 Days” 5.35 5.46
5 years and over to 10 years 5.25 5.35
Canara Amrit “75 months” 5.4 5.51
Source: Bank website. Wed 17.01.2022

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