Canara bank cuts FD rates by up to 20 bps: Check latest rates

Canara Bank has reduced fixed deposit interest rates by up to 20 basis points (bps) on certain tenures for amounts below Rs 3 crore. According to the bank's website, the new rates are effective from April 10, 2025. After the revision, the bank offers interest rates between 4% and 7.25% for the general public and 4% and 7.75% for senior citizens on callable deposits.

Earlier, the bank offered interest rates between 4% and 7.40% for the general public and 4% and 7.90% for senior citizens on callable deposits.

Latest Canara Bank FD rates

The bank is now offering 4% interest on fixed deposits maturing between 7 and 45 days, and 5.25% interest on deposits maturing between 46 and 90 days. Canara Bank currently offers 5.5% interest on deposits maturing in 91 to 179 days. The bank has reduced FD interest rate from 6.25% to 6.15%, a decrease by 10 bps on term deposits maturing between 180 and 269 days.


Now this bank cuts FD interest rates by 25 bps; check details

Deposits maturing between 270 days and less than a year now earn a 6.25% FD interest rate. Fixed deposits maturing in one year will earn a 6.85% interest rate. The bank offers an interest rate of 7.25% on deposits maturing in 444 days.
The bank offers an interest rate of 6.85% on deposits maturing between more than one year and less than two years. Canara Bank has reduced the FD interest rate on fixed deposits maturing between more than two years and less than three years by 15 bps from 7.30% to 7.15%.

After the revision, the bank has cut the FD interest rate by 20 bps from 7.40% to 7.20%, on FDs maturing between more than three years and less than five years.

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For fixed deposits maturing between five years and less than 10 years, the bank offers a 6.70% interest rate at Canara Bank.

Tenure	General Citizens FD rate	Senior Citizens FD rate
7 days to 14 days	3.50%	4.00%
15 days to 29 days	3.75%	4.25%
30 days to 90 days	4.25%	4.75%
91 days to 180 days	4.75%	5.25%
6 months to less than 9 months	6.00%	6.50%
9 months to 12 months	6.00%	6.50%
12 months 1 day to < 18 months	8.30%	8.80%
18 months to 24 months	8.30%	8.80%
24 months 1 day to 36 months	7.50%	8.00%
36 months 1 day to 60 months	6.50%	7.00%
60 months 1 day to 120 months	6.25%	6.75%
Tax saver FD 5 Years (60 months)	6.50%	7.00%

Canara Bank senior citizen FD interest rate

After the revision, the bank will offer interest rates between 4% and 7.75% for senior citizens on callable deposits for tenures ranging from seven days to 10 years.

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According to the Canara Bank website, “Additional interest of 0.50% for Senior Citizens is available for Deposits (Other than NRO/NRE and CGA Deposits) less than Rs. 3 Cr and with the tenor of 180 Days and above.”

Penalty on premature withdrawal of FDs

If domestic or NRO term deposits of less than Rs. 3 crore are accepted or renewed on or after March 12, 2019, there will be a penalty of 1.00% for premature closure, partial withdrawal, or premature extension.