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Home >> Interest Rates >> Deposit Accounts
 
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 RATE OF INTEREST (%) p.a. MINIMUM BALANCE
ACCOUNT General Public Senior Citizen Rural Semi Urban Urban/Metro
1. SAVINGS BANK A/C
A. Domestic
w.e.f. 03-05-2011
4.00% 4.00%
a. Savings Bank Account (with cheque Book facility) 4.00% 4.00% Rs.500/- Rs.500/- Rs1000/-
b. Savings Bank Account (without cheque Book facility) 4.00% 4.00% Rs.100/- Rs.100/- Rs.500/-
c. Canara Basic Savings Bank Deposit Account 4.00% 4.00% NIL NIL NIL
d. Canara Small Savings Bank Deposit Account 4.00% 4.00% NIL NIL NIL
e. Canara NSIGSE (National Scheme of Incentive to Girls for Secondary Education) Savings Bank Deposit Account 4.00% 4.00% NIL NIL NIL
CHARGES FOR NON-MAINTENANCE OF MINIMUM BALANCE: Flat charge of Rs.30/- per month collected once in a month on last working day.
Mode of Calculation of charges for non-maintenance of minimum Balance Non-maintenance of minimum balance on any day/any number of days during the month attracts charges as above.
B. Non Resident
a. NRO (03-05-2011) 4.00% 4.00%
b. NRE (03-05-2011) 4.00% 4.00%


  2. TERM DEPOSITS
A. Domestic Rate of Interest (%) p.a.
  For Deposits less than Rs.1 crore
w.e.f.01.01.2014
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 *

4.00

4.00

4.50

4.50

15 days to 30 days

4.50

4.50

5.00

5.00

31 days to 45 days

6.50

6.50

7.00

7.00

46 days to 60 days

7.50

7.50

8.00

8.00

61 days to 90 days

7.50

7.50

8.00

8.00

91 days to 120 days

7.50

7.50

8.00

8.00

121 days to 179 days

7.50

7.50

8.00

8.00

180 days to 269 days

7.40

7.46

7.90

7.97

270 days to less than 1 year

8.25

8.41

8.75

8.92

1 year only

9.05

9.36

9.55

9.90

Above 1 year to less than 2 years

9.05

9.36

9.55

9.90

2 years & above to less than 3 years

9.05

9.80

9.55

10.39

3 years & above to less than 5 years
9.05
10.27
9.55
10.91
5 years & above to less than 8 years

9.05

11.29

9.55

12.06

8 years & above to 10 years

9.05

13.08

9.55

14.10

*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 rates of return on Bank’s Re-investment Deposit Plan (Kamadhenu Deposit) is based on quarterly compounding of interest.

Bank offers 8.50% p.a for a period of 111 days (“Canara Shikhar-111”), 9.25% p.a. for 444 days(“Canara Shikhar-444”), 9.30% p.a. for 555 days (“Canara Shikhar-555”), and 9.05% p.a. for 1000 days & 1200 days for deposit of less than Rs.1 crore for General Public and an additional 0.50% p.a is extended to Senior Citizens for these maturity slabs.



  3. TERM DEPOSITS
A. Domestic Rate of Interest (%) p.a.
  For Deposits Rs.1 crore & above
W.e.f.03.04.2014
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 *

4.00

4.00

4.50

4.50

15 days to 30 days

4.50

4.50

5.00

5.00

31 days to 45 days

7.75

7.75

8.25

8.25

46 days to 60 days

8.25

8.25

8.75

8.75

61 days to 90 days

8.25

8.25

8.75

8.75

91 days to 120 days

9.15

9.15

9.65

9.65

121 days to 179 days

9.15

9.15

9.65

9.65

180 days to 269 days

9.20

9.28

9.70

9.78

270 days to less than 1 year

9.20

9.38

9.70

9.89

1 year only

9.25

9.58

9.75

10.11

Above 1 year to less than 2 years

9.25

9.58

9.75

10.11

2 years & above to less than 3 years

9.00

9.74

9.50

10.33

3 years & above to less than 5 years

8.75

9.88

9.25

10.52

5 years & above to less than 8 years

8.75

10.83

9.25

11.59

8 years & above to 10 years

8.75

12.48

9.25

13.48

* 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 rates of return on Bank’s Re-investment Deposit Plan (Kamadhenu Deposit) is based on quarterly compounding of interest.

  • For deposit of Rs.1 crore & above, Bank offers 9.00% for a period of 555 days, 9.00% for 1000 days and 8.75% for 1200 days for General Public and an additional 0.50% p.a is extended to Senior Citizens for these maturity slabs.


    • Senior Citizens are not eligible for additional interest rate for their Recurring Deposits, Capital Gains Account Scheme and NRO term deposits (i.e, interest rates as applicable to General Public be offered).
    • For Employees / Ex-employees of Canara Bank, who are eligible for preferential interest rate as per Bank’s Guidelines, additional 1.00% over and above the rate applicable for General Public is extended, irrespective of the size of the deposit.
    • For Ex-employee Senior Citizens (60 years and above) of Canara Bank, who are eligible for preferential interest rate as per Bank’s Guidelines, additional 1.00% over and above the rate offered for General Public is extended for deposit period of less than 5 years, irrespective of the size of the deposit. For deposit period of 5 years and above to 10 years, additional 1.50% over and above the rate for General public, irrespective of the size of the deposit, is extended.
    • Employees/Ex-employees/Ex-employee Senior citizens of Canara Bank are not eligible for additional interest rate for their Capital Gain Account Scheme and NRO term deposits.

    PENALTY:

    • A penalty of 1.00% will be levied for premature closure/part withdrawal/premature extension of Domestic /NRO term deposits of less than Rs.1 Crore that are placed/renewed on or after 04.02.2011.
    • No penalty will be levied for premature closure/part withdrawal/premature extension of Domestic /NRO 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/part withdrawal/premature extension of Domestic/NRO term deposits of Rs.1 crore & above that are placed /renewed from 04.02.2011 to 12.10.2012.
    • No interest will be payable on term deposits prematurely closed/prematurely extended before completion of 7th day.
    • A penalty of 1.00% is applicable on Term Deposits under Capital Gains Account Scheme-1988, which are prematurely converted/withdrawn/closed, irrespective of the size of the deposit amount.



  • 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.08.11.2013)
    Rs.1 crore & above
    (w.e.f. 03.04.2014)
    Rate of Interest
    (% per annum)
    Annualised
    Interest Yield
    *
    Rate of Interest
    (% per annum)
    Annualised
    Interest Yield
    *
    1 year only    

    9.05

    9.36

    9.25

    9.58

    Above 1 year to less than 2 years    

    9.05

    9.36

    9.25

    9.58

    2 years & above to less than 3 years

    9.05

    9.80

    9.00

    9.74

    3 years & above to less than 4 years

    9.05

    10.27

    8.75

    9.88

    4 years & above to less than 5 years

    9.05

    10.76

    8.75

    10.34

    5 years & above to less than 6 years

    9.05

    11.29

    8.75

    10.83

    6 years & above to less than 7 years

    9.05

    11.85

    8.75

    11.35

    7 years & above to less than 8 years

    9.05

    12.44

    8.75

    11.90

    8 years & above to less than 9 years

    9.05

    13.08

    8.75

    12.48

    9 years & above to less than 10 years

    9.05

    13.75

    8.75

    13.10

    10 years

    9.05

    14.47

    8.75

    13.76

    * 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.

  • Additional interest rate will not be extended on any type of deposits of non-residents. (Senior Citizens/Employees/Ex-Employees)<


  • 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.

    w.e.f. 01.04.2014 to 30.04.2014 (Interest rate percent per annum)

    FCNR (B)

    PERIOD OF DEPOSIT

    CURRENCY OF DEPOSIT

    1 Year & above but less than 2 years

    2 years & above but less than 3 years

    3 years only

    3 years and above but less than 4 years

    4 years and above but less than 5 years

    Five years

    USD

    2.56

    2.59

    4.05

    4.05

    4.48

    4.85

    GBP

    2.91

    3.49

    4.82

    4.82

    5.07

    5.29

    EUR

    2.55

    2.49

    3.64

    3.64

    3.82

    4.01

    CAD

    3.47

    3.40

    4.61

    -

    -

    -

    AUD

    4.71

    4.96

    6.23

    -

    -

    -

    FCNR (B) deposits in currencies in Canadian Dollars (CAD) & Australian Dollars (AUD) can only be accepted upto three years.

    Interest on RFC Deposits w.e.f. 01.04.2014 to 30.04.2014(Interest percent per annum)
    RFC DEPOSITS
    PERIOD OF DEPOSIT CURRENCY OF DEPOSITS
    USD GBP EUR CAD AUD

    SAVINGS BANK  

    Nil

    Nil

    Nil

    Nil

    1.35

    1 week & above but less than 1 month

    Nil

    0.15

    Nil

    0.60

    2.30

    1 month & above but less than 3 months

    Nil

    0.15

    Nil

    0.67

    2.30

    3 months & above but less than 6 months

    0.12

    0.36

    Nil

    0.82

    2.41

    6 months & above but less than 1 year

    0.20

    0.34

    0.03

    0.80

    2.40

    1 year & above but less than 2 years

    2.56

    2.91

    2.55

    3.47

    4.71

    2 years & above but less than 3 years

    2.59

    3.49

    2.49

    3.40

    4.96

    3 years only

    4.50

    4.82

    3.64

    4.61

    6.23

     
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