How to find the best rates for Canara Bank Fixed Deposit
Canara Bank is a renowned public-sector bank offering fixed deposit products to its retail customers. The various FD schemes feature competitive interest rates across all tenors; short, medium and long-term making them attractive investment propositions for those who wish to channel savings into a low-risk option.
Interest rates on fixed deposits are subject to change depending on a banks liquidity requirement and market rate movements. The above table depicts FD rates as per the latest changes made by the bank in order to enable accurate, real-time comparison.
Canara Bank Short-Term FD Rates
The lowest rate offered is at 4.5% on a very short holding period of 30 days. The interest rates on schemes with tenors of 60 and 90 days are at an attractive 7%. This is enhanced by 0.25% for a period of 120 days (at 7.25%) and by 0.75% for a period of 6 months (at 7.75%).
The best rate in this category is offered on holdings between 1 to 2 years at 9.05%. Rates are only marginally lower at a very appealing 9% for tenors of 3 to 5 years.
Canara Bank Senior Citizen FD Rates
Senior citizen FD account-holders will earn an extra 0.5% across all schemes. This puts returns on deposits for this customer-segment in the range of 5% to 9.55%.
Canara Banks interest rates on fixed deposits, indicated above, are depicted on a per annum basis, compounded annually which makes long-term holdings a more profitable option when compared to short-term holdings.
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