Setting a benchmark among other public sector institutions, Canara Bank is offering the customers with some attractive fixed deposit schemes. It is comprised of short, mid and long-term tenures with lucrative returns on them, and at loanbaba.com you will get all information about the Canara Bank FD rates and the term deposit and fixed deposit offers they have. However, with respect to the bank's market conditions and liquidity requirements, the interest rates may vary with different schemes.
The shortest-term holding is 30 days for which returns can be availed at 4.20%. The returns will increase with the increase in the holding period, like for the tenures of two and three months, one can avail 4.75% per annum. Moreover, the best fixed deposit rates for the holding term of four months are at an attractive 5.5%, and it is enhanced to 6.5% yearly for the holding term of nine months.
One can avail FD interest rates of 6.90% for the holding period of 364 days to one year but, for the holding term of 13 months and above to five years, one can avail the maximum of 6.90% on a yearly basis and is one of the best FD rates, India.
The senior citizens holding an FD account in Canara Bank are benefitted with 0.5% (additional) on all the mentioned schemes. Therefore, the returns for the deposits are set between 4.7%-7.4% per annum.
Kindly Note: The above-mentioned rates of FD, India for Canara Bank are compounded quarterly are placed according to the yearly basis. This is the reason the long-term fixed deposits are more profitable than the short-term fixed deposits.