Canara Bank Domestic Term Deposit FD Scheme
The Canara Bank Domestic Term Deposits tenure ranges from min 7 Days to max 10 Year 2 Days . The ROI ranges from 4.00% to 6.85 % for the general public. The lock-in period for this scheme is 5 Year
Canara Bank Domestic Term Deposits Scheme for amount ranging from ₹ 1,000 to ₹ 2.0 Cr
The rate of interest for deposited amount ranging from ₹ 1,000 to ₹ 2.0 Cr is as below
Interest Rate for General Public (p.a.)
Interest Rates for Senior Citizens (p.a.)
|7 Days Upto 1 Months 15 Days
|1 Months 16 Days Upto 3 Months
|3 Months 1 Days Upto 5 Months 29 Days
|6 Months Upto 1 Year
|1 Year Upto 2 Year
|2 Year Upto 3 Year
|3 Year Upto 5 Year
|5 Year Upto 10 Year 2 Days
|Upto 1 Year
Key features of Canara Bank Domestic Term Deposits Scheme
Summary of Canara Bank Domestic Term Deposits Scheme features :
|Mutual Fund Schemes
Domestic Term Deposits
|Loan Against FD
7 Days to 10 Year 2 Days
4.00% to 6.85 %
2.90% to 6.25 %
Rs.1,000 to Rs.200,00000
*Interest rates are subject to change at the discretion of the bank. These Interest rates are with effect from 10 November 2021.
Canara Bank Domestic Term Deposit FD Scheme
Canara Bank offers attractive and competitive fixed deposit schemes for its customers. A fixed deposit is a type of savings account where you deposit a fixed sum of money for a set period. The interest rate on a fixed deposit is usually higher than on a regular savings account, making it a good way to grow your money.
Canara Bank offers one of India's highest interest rates on fixed deposits. You can choose from a tenure of 7 days to 10 years and get attractive interest rates. The tenure of the deposit determines the interest rate on a Canara Bank Fixed Deposit. The interest rates primarily range from 3.25% p.a. to 7.71% p.a.
Key Features and Benefits
Looking for a safe and secure investment option? Canara Bank Fixed Deposits could be a good option for you. Here are some key features and benefits of this scheme:
- Canara Bank FDs offer interest rates starting from 3.25% per annum. This is higher than the interest rates offered on regular savings accounts.
- Canara Bank Fixed Deposit come with a wide range of tenure options – you can choose a tenure that suits your investment needs.
- With Canara Bank fixed deposit scheme, you can avail of income tax deductions under section 80C of the Income Tax Act.
- Canara Bank FDs come with a facility for premature withdrawal if you need to access your funds before the maturity date.
- Canara Bank offers special interest rates for senior citizens on its fixed deposit scheme.
- Canara Bank offers part withdrawal of deposits in units of INR 1,000
- You can opt for an auto-renewal facility with Canara Bank FD.
You can open a Canara Bank Fixed Deposit account to earn interest on your savings. This account offers you a higher interest rate than a savings account, and you can choose the tenure of your deposit. The eligibility criteria for a Canara Bank Fixed Deposit account are as follows:
- Individuals or joint accounts (with a maximum of 4 members)
- Minors (Guardians on behalf of them)
- HUF, partnership firm, company, or association
- Canara Bank FD application form with a passport-size photograph of the applicant
- KYC documents:: Aadhaar Card, PAN Card, Voter ID, or Driving License
- Form 60/ 61 (in case of no PAN Card)
- Documents applicable for HUF, partnership firm, company, or association. (if applicable)
How To Apply For Canara Bank Fixed Deposit?
You can visit your nearest branch or apply online for a Canara Bank Fixed Deposit.
Via Internet Banking
You can apply for a Canara Bank Fixed Deposit through internet banking by following these simple steps:
Step 1: Log in to your internet banking account on the official website of Canara Bank.
Step 2: You can choose the type of deposit account you want to open on the Term Deposit page by clicking the 'New Account link.
Step 3: You must provide all the required information, including the nominee's name, payment details, and maturity instructions.
Step 4: Click on 'Open Deposit' to verify the details.
Step 5: Authenticate the transaction by clicking 'Confirm'. On the screen, you will see a confirmation message for account registration.
Via Visiting the Bank Branch
One must visit a Canara Bank branch to open an offline FD account. Obtain all the documents and submit them along with the FD application form. A Canara Bank representative will issue a receipt upon successfully processing the application.
How Can you Download the Canara Bank FD Application Form?
You can download the Canara Bank Fixed Deposit application form by visiting the official website of Canara Bank. You are simply required to page and click on ‘Quick Access,’ here, you will find the FD application form.
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What is Canara Domestic Term Deposits FD?
A Canara Bank Domestic Term Deposit is a safe and convenient way to grow your money. With a fixed interest rate, you’ll know exactly how much your money will grow over the term of your deposit. And, because your money is locked away for the term of your deposit, you won’t be tempted to spend it.
Is Canara Bank Domestic Term Deposit tax-free?
A Canara Bank Domestic Term Deposit account can be tax-free if you opt for a tax saver fixed deposit scheme.
Is it good to invest in Canara Bank Domestic Term Deposits FD?
Yes, Canara Bank Domestic Term Deposits offers attractive benefits and competitive rates, making it one of the best FD schemes.
What is the minimum tenure for Canara Bank Domestic Term Deposits FD?
The minimum tenure for Canara Bank Fixed Deposit is seven days, and the maximum can go up to 10 years.