Canara Bank FD Interest Rates 2025

What is a Canara Bank FD?

Canara Bank FDs are savings products best suited for customers who prefer guaranteed returns over a defined investment period. With the availability of products like 444 Days Deposit, the bank offers unique features and one of the best FD interest rates. Besides, Canara Bank allows customers to earn interest on a monthly, quarterly, half-yearly, or yearly basis. While senior citizens get 0.50% over and above current rates, super-senior citizens get 0.60% extra. You can open an FD with as little as ₹1,000 and get the benefits of secure savings.

Canara Bank FDs are available for:

• Individuals (single or joint, up to four people)

• Hindu Undivided Families (HUFs)

• Minors (via guardian)

• Companies, partnerships, associations, and other institutions

Customers can pick how long they want the deposit and how often interest should be paid, as well as borrow against the same deposit amount if needed.

Key Features of Canara Bank FD

Canara Bank fixed deposits offer a wide range of unique features. Some of them are listed below.

1. Minimum and Maximum Deposit Amount: 

You can start an FD with as little as ₹1,000. There is no upper limit, so you can deposit as much money as you want. 

2. Flexible Tenure Options: 

You can choose how long you want to invest, from as short as 15 days to as long as 120 months (10 years). This helps you match your FD to your financial goals. (7–14 day deposits are allowed only for deposits of ₹5 lakh and above.)

3. Multiple Interest Payout Choices: 

You can receive interest earnings in different ways; Monthly (at a slightly reduced rate), Quarterly, Half-yearly, or Yearly. This allows you to plan your cash flow as per your needs.

4. Higher Rates for Senior Citizens: 

If you are a senior citizen, you get a preferential interest rate, usually 0.50% higher than regular customers. Super-senior citizens get 0.60% additional interest.

5. Loan Against FD: 

If you need urgent funds, you don’t need to break your FD. You can get a loan of up to 90% of the deposit value.The interest rates of loans against FD are typically 2% to 2.5% lower than personal loans.

6. Partial Withdrawal Option: 

You are allowed to partially withdraw your FD before maturity in multiples of ₹1,000, offering flexibility when you need a portion of your funds. The bank charges a penalty of 1% on premature partial withdrawal.

7. Nomination Facility: 

You can assign a nominee who will receive the FD amount if something unfortunate happens to you. This adds a layer of financial security for your family.

8. Tax Deduction at Source (TDS): 

Interest is subject to TDS under Section 194A of the Income Tax Act. Submit the Form 15G or 15H if you're eligible to avoid tax deductions.

Canara Bank FD Interest Rates 2025

Below are the Canara FD interest rates for different tenure and deposit slabs. Rates can vary depending on tenure, amount, and customer category.

Canara Bank FD Interest Rates (Domestic – Deposits Less than ₹3 Crore – Callable)

Note: Canara Bank Interest Rate w.e.f. June 09, 2025

Canara Bank FD Interest Rates (Domestic – Deposits Less than ₹3 Crore – Non-Callable)

Note: Canara Bank Interest Rate w.e.f. June 09, 2025 ( Available only for deposits above ₹1 Crore; premature withdrawal not allowed.)

How to Open a Canara Bank FD

You can open a Canara Bank FD either online or by visiting a branch. Here’s how:

1. Online Method

For existing Canara Bank customers with internet or mobile banking:

• Log in to Canara NetBanking or Mobile Banking.

• Click on Open Deposit Account

• Navigate to the "Fixed Deposit" or "Term Deposit" section.

• Enter the deposit amount and select the tenure.

• Provide Maturity Instructions.

• Choose interest payout preference (monthly, quarterly, etc.).

• Add nominee details if needed.

• Review and confirm your FD request by entering your MPIN.

2. Offline Method

For those who prefer visiting a branch:

• Visit the nearest Canara Bank branch.

• Request and fill out the FD application form.

• Submit KYC documents (ID, address proof, PAN/form 60/61).

• Attach a passport-sized photo.

• Deposit the FD amount via cheque or cash.

• Collect the deposit receipt after the FD is created.

Key Takeaways

With options like Green Deposit, Tax Saver FD schemes, and 444 Days Deposit, Canara Bank FD interest rates attract a diverse customer base. Senior and super-senior citizens receive higher returns. Terms for deposits may be as short as 15 days or as long as 10 years, and all customers must start with a deposit of at least ₹1,000. You can get loans for up to 90% of your balance and make part withdrawals of ₹1,000. You can also explore fixed deposit interest rates in India to see which bank currently offers the highest return.