New Delhi: A couple of days ahead of the announcement of Reserve Bank of India (RBI) Monetary Policy 2024, public sector lender Canara Bank has announced revision in its Fixed Deposit (FD) rates. Canara Bank has hiked FD interest rates under Rs 3 crore.
Canara Bank’s new FD rates are effective from 1 December 2024, according to the bank’s official website.
Following the modification in FD interest rates, Canara Bank will offer interest rates on callable deposits with maturities ranging from seven days to ten years that range from 4 percent to 7.4 percent for members of the general public and 4 percent to 7.9 percent for senior citizens.
| 2. TERM DEPOSITS Rate of Interest (%) p.a. For Deposits less than Rs.3 Crore wef 01.12.2024 |
||||||||
|---|---|---|---|---|---|---|---|---|
| A. Domestic | ||||||||
| Less than Rs.3 Crore | ||||||||
| Callable | Non Callable ( Above Rs.1 Crore ) $ | |||||||
| Term Deposits (All Maturities) | General Public | Senior Citizen | General Public | Senior Citizen | ||||
| Rate of Interest (% p.a.) | Annualised Interest yield (% p.a.) ** | Rate of Interest (% p.a.) # | Annualised Interest yield (% p.a.) ** | Rate of Interest (% p.a.) | Annualised Interest yield (% p.a.) ** | Rate of Interest (% p.a.) # | Annualised Interest yield (% p.a.) ** | |
| 7 Days to 45 Days | 4.00 | 4.06% | 4.00 | 4.06% | THAT | THAT | THAT | THAT |
| 46 Days to 90 Days | 5.25 | 5.35% | 5.25 | 5.35% | 5.35 | 5.46% | 5.35 | 5.46% |
| 91 Days to 179 Days | 5.50 | 5.61% | 5.50 | 5.61% | 5.60 | 5.72% | 5.60 | 5.72% |
| 180 Days to 269 Days | 6.15 | 6.29% | 6.65 | 6.82% | 6.25 | 6.40% | 6.75 | 6.92% |
| 270 Days to less than 1 Year | 6.25 | 6.40% | 6.75 | 6.92% | 6.35 | 6.50% | 6.85 | 7.03% |
| 1 Year Only | 6.85 | 7.03% | 7.35 | 7.56% | 7.00 | 7.19% | 7.50 | 7.71% |
| 444 Days | 7.25 | 7.45% | 7.75 | 7.98% | 7.40 | 7.61% | 7.90 | 8.14% |
| Above 1 Year to less than 2 Years | 6.85 | 7.03% | 7.35 | 7.56% | 7.00 | 7.19% | 7.50 | 7.71% |
| 2 Years & above to less than 3 Years | 7.30 | 7.50 | 7.80 | 8.03 | 7.40 | 7.61 | 7.90 | 8.14 |
| 3 Years & above to less than 5 Years | 7.40 | 7.61 | 7.90 | 8.14 | THAT | THAT | THAT | THAT |
| 5 Years & above to 10 Years | 6.70 | 6.87% | 7.20 | 7.40% | THAT | THAT | THAT | THAT |
Bank Offers 6.70 % p.a. for Canara Tax Saver Deposit scheme (General Public). Maximum deposit acceptable is Rs 1.50 Lakh. Additional rate of interest 0.60% for Super Senior Citizen(80 years and above) is introduced under Canara-444 product only i.e. 7.85% for callable deposits and 8% for non callable deposits
The above Rate of interest is applicable to Recurring deposits also.
