Check latest Canara Bank Fixed Deposit Rates – Canara Bank has revised the Fixed Deposit interest rates for amount less than ₹2 crores with effect from 8 February 2021. The slab wise Canara Bank’s Term Deposit Rates are provided in the chart.
Canara Bank latest FD interest rates (below ₹2 crore) for general public effective 8 February 2021
Key Highlights :
7 days to 45 days – 2.95%
46 days to 90 days – 3.90%
91 days to 179 days – 4%
180 days to less than 1 Year – 4.45%
1 year only – 5.20%
Above 1 year to less than 2 years – 5.20%
2 years & above to less than 3 years – 5.40 %
3 years & above to less than 5 years – 5.50%
5 years & above to 10 Years – 5.50%
Check out the Latest Rates at Bank website : Click Here
NOTE : Canara Bank gives 0.50% extra on the above rates to Senior Citizen and 1.50% extra to the ex-staff senior citizen. The interest rates are given addition to the the general customers to senior citizens on deposits maturing in 180 days to 10 years. The additional interest rate will not be given on the Tax Shield Fixed Deposits and Capital Gain Term deposits.
Also Read – Canara Bank – Atal Pension Yojana Account Opening Online Guide
Penalty for Pre mature closure of Fixed Deposits
A penalty of 1.00% shall be levied for premature closure/part withdrawal/premature extension of Domestic/NRO term deposits of less than Rs. 2 Crore that are accepted /renewed on or after 12.03.2019.
For premature closure/part withdrawal/premature extension of Domestic/NRO term deposits, the Bank imposes a penalty of 1.00%. Such prematurely closed/part withdrawn/prematurely extended deposits will earn interest at 1.00% below the rate as applicable for the relevant amount slab as ruling on the date of deposit and as applicable for the period run OR 1.00% below the rate at which the deposit has been accepted, whichever is lower.”
A penalty of 1.00% is waived in case of premature closure/part withdrawal/ premature extension of Domestic/NRO CALLABLE term deposit of Rs. 2 Crore & above that are accepted/renewed on or after 12.03.2019. 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 accepted /renewed from 04.02.2011 to 12.10.2012
Such prematurely closed/part withdrawn/prematurely extended deposits will earn interest at the rate as applicable for the amount slab of Rs.2 Crore & above as ruling on the date of deposit and as applicable for the period run OR the rate at which the deposit has been accepted, whichever is lower
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.
