Canara bank revises FD, savings interest rate: Check latest rates
Callable Term Deposits (All Maturities) General Public Senior Citizen Rate of Interest (% p.a.) Rate of Interest (% p.a.) # 7 Days to 45 Days 4 4 46 Days to 90 Days 5.25 5.25 91 Days to 179 Days 5.5 5.5 180 Days to 269 Days 6.15 6.65 270 Days to less than 1 Year 6.25 6.75 1 Year Only 6.85 7.35 444 Days 7 7.5 Above 1 Year to less than 2 Years 6.85 7.35 2 Years & above to less than 3 Years 6.9 7.4 3 Years & above to less than 5 Years 7 7.5 5 Years & above to 10 Years 6.7 7.2
FDs for senior and super senior citizens
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Canara Bank Tax-Saver FD
Latest savings account interest rates
S.No.
Slabs ROI(%) 1 For outstanding Balance of less than Rs. 50 Lakh 2.7 2 For outstanding Balance of Rs. 50 Lakh to less than Rs 5 Cr 2.75 3 For outstanding Balance of Rs. 5 Cr to less than Rs 10 Cr 2.8 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 3.5 6 For outstanding Balance of Rs. 200 Cr to less than Rs 300 Cr 3.1 7 For outstanding Balance of Rs. 300 Cr to less than Rs 500 Cr 3.1 8 For outstanding Balance of Rs. 500 Cr to less than Rs 1000 Cr 3.4 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
Canara Bank has revised its fixed deposit (FD) and savings account interest rates, with the new rates effective from May 21, 2025, for FDs, and May 19, 2025, for savings accounts. The fixed deposit rate reduction applies to deposits less than Rs 3 crore.Following the revision, interest rates on callable fixed deposits now range between 4% and 7% for general customers, and between 4% and 7.50% for senior citizens. Previously, on April 10, 2025, the rates stood at 4%–7.25% for the general public and 4%–7.75% for senior citizens.Here's the updated interest rate chart:Senior citizens receive an additional 0.50% interest for FDs above 180 days and under Rs 3 crore (excluding NRE/NRO and CGA deposits).Super senior citizens (aged 80 and above) benefit from a 0.60% additional interest under the Canara-444 scheme, bringing the rate to 7.60% for callable deposits.Under its tax-saving deposit scheme, Canara Bank offers 6.70% per annum to the general public. The maximum investment limit is Rs 1.5 lakh under this scheme.Effective May 19, 2025, Canara Bank's savings account interest rates now range from 2.70% to 4.00%, depending on the account balance:With returns on some deposit slabs dropping by up to 0.25%, savers relying on FDs for stable income may need to reassess their investment approach. This move raises broader questions: Are FDs still worth locking your money into amid falling rates? While FDs remain a safe and predictable option, the declining trend in rates across several banks may signal a shift in the broader interest rate cycle—prompting both conservative and strategic savers to reconsider how they balance safety with returns.
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