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INTEREST RATES

DEPOSIT ACCOUNTS - RATES AT A QUICK GLANCE – as per RBI format

Deposit Accounts

CANARA BANK

RATES AT A QUICK GLANCE

DEPOSIT ACCOUNTS

Earn more from your Canara Bank Savings Bank A/c - Starting from 1st April 2010, interest will be calculated on Daily SB Balance

NATURE

MINIMUM AVERAGE MONTHLY BALANCE w.e.f. 01.04.2015.

SAVINGS BANK A/C

Rural

Semi Urban

Urban/Metro

a. Savings Bank Account (with cheque Book facility)

Rs.500/-

Rs.1000/-

Rs1000/-

b. Savings Bank Account (without cheque Book facility)

Rs.500/-

Rs.1000/-

Rs1000/-

c. Canara Basic Savings Bank Deposit Account

NIL

NIL

NIL

d. Canara Small Savings Bank Deposit Account

NIL

NIL

NIL

e. Canara NSIGSE (National Scheme of Incentive to Girls for Secondary Education) Savings Bank Deposit Account

NIL

NIL

NIL

CHARGES FOR NON-MAINTENANCE OF MINIMUM AVERAGE MONTHLY BALANCE (AMB):
a) METRO / URBAN / SEMI URBAN Branches b) RURAL BRANCHES
AMB maintained in the account against the stipulated Rs. 1,000/- Charges per month for violation of AMB AMB maintained in the account against the stipulated Rs. 500/- Charges per month for violation of AMB
Rs. 999/- to Rs. 700/- Rs. 20/- + applicable Service Tax Rs. 499/- to Rs. 350/- Rs. 20/- + applicable Service Tax
Rs. 699/- to Rs. 400/- Rs. 30/- + applicable Service Tax Rs. 349/- to Rs. 200/- Rs. 30/- + applicable Service Tax
Rs. 399/- and below 40/- + applicable Service Tax Rs. 199/- and below Rs. 40/- + applicable Service Tax
Note: The above charges will not be applicable for special SB / similar products or any other proposed SB schemes which prescribe zero balance/ waiver of minimum balance requirement/ waiver of charges for non-maintenance of minimum Average Monthly Balance.
Mode of Calculation of charges for non-maintenance of minimum Average Monthly Balance:
If Average Monthly Balance falls below the stipulated amount in a particular month and the customer does not maintain Average Monthly Balance in the subsequent month also even after sending SMS/e-mail/ letter, penal charges as applicable will be levied.

 

DOMESTIC/NRO/NRE SAVINGS BANK DEPOSITS - W.E.F. 01.09.2017

For outstanding balances less than Rs. 50 lakh

3.50%

For outstanding balances of Rs 50 lakh & above

4.00%



  2. TERM DEPOSITS
A. Domestic Rate of Interest (%) p.a.
  For Deposits less than Rs.1 crore w.e.f. 11.09.2017
Term Deposits (All Maturities) General Public Senior Citizen
Rate of
Interest (% p.a)
Annualised
Interest yield **
Rate of
Interest (% p.a)
Annualised
Interest yield **

7 days to 14 days *

4.20

4.20

4.70

4.70

15 days to 30 days

4.20

4.20

4.70

4.70

31 days to 45 days

4.50

4.50

5.00

5.00

46 days to 60 days

4.75

4.75

5.25

5.25

61 days to 90 days

4.75

4.75

5.25

5.25

91 days to 120 days

5.50

5.50

6.00

6.00

121 days to 179 days

5.75

5.75

6.25

6.25

180 days to 269 days

6.35

6.41

6.85

6.91

270 days to less than 1 year

6.35

6.46

6.85

6.97

1 year only

6.50

6.66

7.00

7.19

Above 1 year to less than 2 years

6.30

6.45

6.80

6.98

2 years & above to less than 3 years

6.20

6.55

6.70

7.11

3 years & above to less than 5 years

6.20

6.76

6.70

7.35

5 years & above to less than 8 years

6.00

6.94

6.50

7.61

8 years & above to 10 years

6.00

7.63

6.50

8.44

*Rates are applicable only for single deposit of Rs.5 lakhs & 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 an additional interest of 0.50% p.a to deposits of Senior Citizens for all maturity slabs.

Bank Offers 6.35 % p.a for periods of 444 days and 555 days under Canara Shikhar Deposit Scheme for General Public.

Bank Offers 6.00 % p.a for Canara Tax Saver Deposit scheme (General Public). Maximum deposit acceptable is Rs 1.50 lacs.

The above Rate of interest is applicable to Recurring deposits also.
Auto Renewal facility is not available for Canara Tax Saver Deposits, Capital Gains Accounts, Canara Samriddhi deposits(discontinued w.e.f. 01.10.2015) and Non callable deposits.

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.1 crore that are accepted /renewed on or after 04.02.2011.

OVERDUE DEPOSITS:

The overdue deposit (i.e. term deposit which has matured) will be paid interest at prevailing Savings Bank Rate for the overdue period. If such deposit is continued (entire amount or in part), the same will be treated as a fresh term deposit from the date of presentation, at the rate prevailing on the date of presentation for the period of fresh term deposit.
In case of a deposit which is renewed automatically on the due date (where no instructions for Auto Renewal was given by the depositor), prevailing SB rate will be paid for the period from the date of maturity till the date of closure of the deposit.
In case of a deposit which is renewed automatically on the due date (where no instructions for Auto Renewal was given on the date of opening the term deposit) and the depositor has requested for renewal for a different maturity period, interest at prevailing SB rate will be paid for the period from the date of maturity till the date of presentation for renewal of the deposit for a different maturity period. The same is applicable for an auto-renewed deposit presented for part renewal/alternate instructions which are different to the originally contracted terms of the deposit.

 


  3. TERM DEPOSITS
A. Domestic Rate of Interest (%) p.a.
  For Deposits Rs.1 crore & above

FOR RATE OF INTEREST ON DEPOSITS OF Rs 1 CRORE AND ABOVE, PLEASE CONTACT THE NEAREST BRANCH

 


NON RESIDENT ACCOUNTS  
a. NRO – all maturities Same as applicable to Domestic Term Deposits
b. NRE –Term deposits Rate of interest (%) per annum
Period of Deposit

Less than Rs.1 crore (w.e.f.11.09.2017)

Rs.1 crore & above to less than Rs. 10 crore # (w.e.f.11.09.2017)

Rate of Interest
(% per annum)
Annualised
Interest Yield
*
Rate of Interest
(% per annum)
Annualised
Interest Yield
*
1 year only

6.50

6.66

5.50

5.61

Above 1 year to less than 2 yrs

6.30

6.45

4.90

4.99

2 yrs & above to less than 3 yrs

6.20

6.55

4.90

5.12

3 yrs & above to less than 5 yrs

6.20

6.76

4.90

5.24

5 years & above to less than 8 years

6.00

6.94

4.90

5.51

8 years & above to 10 years

6.00

7.63

4.90

5.96

# For interest rate on bulk deposit of Rs. 10 crore & above, please contact the Branch Manager.

  • 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.


PENALTY:

  • A penalty of 1.00% will be levied for premature closure/premature extension of NRE term deposits of less than Rs.1 Crore that are placed/renewed on or after 29.12.2011.
  • No penalty will be levied for premature closure/premature extension of NRE term deposits of Rs.1 Crore & above that are placed/renewed on or after 13.10.2012. However, a penalty of 1.00% shall be levied for premature closure/premature extension of NRE term deposits of Rs.1 crore & above that are placed /renewed from 29.12.2011 to 12.10.2012.
  • 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
  • Bank Offers 6.35% p.a. for periods of 444 days and 555 days under Canara Shikhar Deposit Scheme (For deposits below Rs 1 crore)
  • NRE Term deposits are auto renewed only once as the Non resident status is to be confirmed
 

Interest rates on FCNR (B) Deposits w.e.f. 01.10.2017 to 31.10.2017 (Interest rate % per annum)

CURRENCY OF DEPOSIT

1 Year and above but less than 2 years

2 years and above but less than 3 years

3 years and above but less than 4 years

4 years and above but less than 5 years

Five years only

USD

2.54

2.71

2.83

2.90

2.97

GBP

1.10

1.32

1.43

1.51

1.60

EUR

0.27

0.34

0.46

0.60

0.74

CAD

2.35

2.42

2.53

2.60

2.66

AUD

2.38

2.52

2.68

2.97

3.09

           

 

Interest rates on RFC Deposits w.e.f. 01.10.2017 to 31.10.2017   (Interest rate % per annum)

PERIOD OF DEPOSIT

CURRENCY OF DEPOSITS

 

USD

GBP

EUR

CAD

AUD

SAVINGS BANK

NIL

NIL

NIL

NIL

0.10

1 month & above but less than 3 months

0.97

NIL

NIL

0.71

1.79

3 months & above but less than 6 months

0.92

0.21

NIL

0.72

1.70

6 months & above but less than 1 year

1.25

0.35

0.03

1.30

1.75

1 year & above but less than 2 years

2.54

1.10

0.27

2.35

2.38

2 years & above but less than 3 years

2.71

1.32

0.34

2.42

2.52

3 years only

2.83

1.43

0.46

2.53

2.68