Canara Bank offers Fixed Deposit (FD) schemes that are designed to provide secure and predictable returns. You can invest your money for a fixed period and earn a steady interest rate based on the chosen tenure.
This article will guide you through the latest FD interest rates for 2025, types of FD schemes, special features, NRE deposit rates, loan against FD, and how to invest in Canara Bank FDs.
The interest rates provided in the table below are applicable to deposits below Rs.3 crore and is effective from 10th April 2025:
Deposit Tenure | Interest Rate for Regular Customers (% p.a.)* | Interest Rate for Senior Citizens (% p.a.)* |
7 days to 45 days | 4.00 | 4.00 |
46 days to 90 days | 5.25 | 5.25 |
91 days to 179 days | 5.50 | 5.50 |
180 days to 269 days | 6.15 | 6.65 |
270 days to less than a year | 6.25 | 6.75 |
1 year | 6.85 | 7.35 |
444 days | 7.25 | 7.75 |
Above 1 year to less than 2 years | 6.85 | 7.35 |
2 years and above to less than 3 years | 7.15 | 7.65 |
3 years and above to less than 5 years | 7.20 | 7.70 |
5 years and above to 10 years | 6.70 | 7.20 |
*Interest rates are as of 10th April, 2025.
Tenure | 5 months to 10 years. |
Senior Citizen Interest Rates | 4.50-7.70% p.a. |
Public Interest Rates | 4.00% to 7.25%. |
Highest Interest Rates for Public | 7.25% p.a. |
Highest Interest Rates for Senior Citizens | 7.70% p.a. |
Premature Withdrawal | There is no penalty for deposits up to Rs 5 lakhs. For deposits above Rs 5 lakhs, the penalty is 1% of the applicable IOB FD rate. |
Minimum Deposit Amount | Rs 1,00,000 |
Canara Bank offers NRE fixed deposits to NRIs with attractive interest rates. In India, the interest earned is not taxed. You can also take both the principal amount and the interest out of the country without any restrictions.
NRE FD Tenure | Interest Rate (% p.a.) |
1 year to less than 2 years | 6.85 |
2 years to less than 3 years | 7.15 |
3 years to less than 5 years | 7.20 |
5 years to 10 years | 6.70 |
*Rates are applicable as of 10th April 2025.
Scheme | Tenure | Minimum Deposit | Interest Payout | Key Features |
Fixed Deposit | 15 days – 120 months (7–14 days for ₹5L+) | ₹1,000 | Monthly, quarterly, half-yearly, or annually | Standard FD with flexible tenures and payout modes. |
Kamadhenu Deposit | 5 months – 120 months | ₹1,000 | On maturity (compounded quarterly) | Cumulative FD with interest paid at maturity. Loan facility up to 90%. |
Canara Green Term Deposit | 1111, 2222, or 3333 days | ₹1,000 (callable) ₹3 crore (non-callable) | On maturity | Invest in sustainability. No maximum limit. |
Canara Dhanvarsha Deposit Scheme | 1 year – 10 years | ₹500/month (up to ₹1 lakh/month) | On maturity | Monthly recurring deposit with flexible instalments and no penalty for delays. |
Nitya Nidhi Deposit (NND) Scheme | 63 months | ₹50/month | On maturity (interest @ 2.00%) | Doorstep collection. Great for daily micro-savings. |
Ashraya Deposit Scheme (Senior Citizens) | FD: 15 days – 120 months Kamadhenu: 5 months – 120 months | ₹1,000 | FD: Monthly/Quarterly Kamadhenu: On maturity | For senior citizens. Higher interest and flexible compounding options. |
Each of these schemes is designed to cater to diverse savings goals, offering flexibility, sustainability, and financial security. Customers can choose based on their financial needs, investment horizon, and social or environmental goals.
Deposit Tenure | General Customers | Senior Citizens |
Short-Term Deposits | ||
7 days to 1 year | 4.00% - 6.25% | 4.00% - 6.75% |
Medium-Term Deposits | ||
1 - 5 years | 6.85% - 7.20% | 7.35% - 7.70% |
Long-Term Deposits | ||
5 - 10 years | 6.70% | 7.20% |
Step 1: Log in to your Net Banking account from the official Canara Bank NetBanking website.
Step 2: On the Term Deposit page, select the ‘New Account’ option and pick your preferred type of deposit.
Step 3: Fill in all the required details — amount, nominee info, and maturity instructions.
Step 4: Click ‘Open Deposit’ to review the details.
Step 5: Click ‘Confirm’ to authenticate the transaction. Once you've done this, a confirmation pop-up will appear, showing that your FD has been successfully created.
Step 1: Download and log in to the Canara ai1 App.
Step 2: Tap on ‘New Account’ and choose the FD type you want.
Step 3: Enter your deposit amount, nominee details, and maturity instructions.
Step 4: Hit ‘Open Deposit’ to review everything.
Step 5: Tap ‘Confirm’ and complete the authentication. A pop-up will confirm that your FD is now active.
Step 1: Visit your nearest Canara Bank branch.
Step 2: Request and fill out the Fixed Deposit Application Form.
Step 3: Submit the form along with KYC documents and deposit the amount.
Step 4: Once the bank processes your request, you’ll receive an official FD receipt.
Canara Tax Saver Scheme
This is a scheme offered under the fixed deposit and Kamadhenu deposit schemes. The account is suitable for salaried employees, businessmen, and professionals. Individuals and HUFs are eligible to open this account. The minimum deposit is Rs.100, and the maximum is Rs.1.5 lakh. The tenure is five years. You will get an income tax deduction of up to Rs.1.5 lakh under Section 80C of the Income Tax Act, 1961 upon depositing money in this account.
If you need funds but do not want to break your FD, Canara Bank lets you take a loan against it.
This facility can be useful during financial emergencies without affecting your deposit returns.
Bank Name | Regular Customers (% p.a.) | Senior Citizens (% p.a.) |
HDFC Bank | 3.00% – 7.35% | 3.50% – 7.85% |
Punjab National Bank | 4.55% – 7.30% | 5.05% – 7.80% |
Axis Bank | 3.00% – 7.20% | 3.50% – 7.70% |
City Union Bank | 5.00% – 7.50% | 5.00% – 8.00% |
Canara Bank | 4.00% – 7.25% | 4.00% – 7.75% |
Bank of Baroda | 4.25% – 7.25% | 4.75% – 7.75% |
ICICI Bank | 3.00% – 7.25% | 3.50% – 7.80% |
HSBC Bank | 2.85-7.50% p.a. | 3.35- 8.00% p.a. |
Citibank | 2.10% – 7.77% | 2.60% – 8.27% |
State Bank of India | 3.50% – 7.10% | 4.00% – 7.60% |
Indian Overseas Bank | 4.00% – 7.30% | 4.50% – 7.80% |
IDBI Bank | 3.00% – 7.00% | 3.50% – 7.50% |
Indian Bank | 2.80% – 7.25% | 3.30% – 7.75% |
IDFC First Bank | 3.00% – 7.75% | 3.50% – 8.25% |
Post Office FD | 6.90% – 7.50% | 6.90% – 7.50% |
Kotak Bank | 2.75% – 7.40% | 3.25% – 7.90% |
If you want to know how much interest you’ll earn on your FD, try the Canara Bank FD interest rate calculator. Just enter the amount you plan to invest, your preferred tenure, and the applicable interest rate. The calculator will instantly show your maturity amount and interest earnings. It’s a useful tool for comparing tenures and planning your investments smartly.
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