What are the Canara bank FCNR Rates for senior citizens?

Unlike domestic fixed deposits rates, senior citizens (60+) receive the same interest rates as the general public for FCNR accounts; the extra 0.50% premium is reserved only for domestic Rupee deposits.

What are the latest Canara Bank FCNR Rates?

The latest FCNR rates by Canara Bank is from 1.50% to 5.15%.

What is the difference between FCNR (A) and FCNR (B) Platinum accounts for NRIs?

For NRIs, an FCNR account is a powerful way to invest in India without currency risk. It allows you to park your overseas earnings in stable foreign denominations, ensuring your savings are completely shielded from Rupee fluctuations while earning high, tax-free interest.

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Canara Bank FCNR Rates

Canara Bank offers NRIs and OCI to open FCNR accounts and invest their overseas earnings. The bank allows 5 stable foreign currencies like USD, GBP, EURO, CAD and AUD. Under the FCNR account by Canara bank it offers competitive rates up to 5.15%.

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Latest Canara Bank FCNR Rates 2026

The Canara Bank FCNR rates are applicable for tenures ranging from 1 year to 5 years for amounts less than USD 1 Million:

PERIOD OF DEPOSIT	CURRENCY OF DEPOSIT
PERIOD OF DEPOSIT	USD <100000	USD>=100000	GBP	EURO	CAD	AUD
1 year to less than 2 years	5.10	5.15	4.20	2.70	3.20	3.70
2 years to less than 3 years	3.90	3.90	3.00	2.00	3.25	3.50
3 years to less than 4 years	3.70	3.70	2.50	1.50	3.00	3.00
4 years to less than 5 years	3.50	3.50	2.50	1.50	3.00	3.00
5 years	3.50	3.50	2.50	1.50	3.00	3.00

*Canara Bank FCNr Rates w.e.f. 19th December 2025

Canara FCNR (B) Account: Key Financial Terms

Here is the Canara Bank FCNR (B) high-value deposit and compounding terms:

High-Value Limit: Standard rates apply to deposits under USD 1 Million (or equivalent).
Custom Pricing: For deposits of USD 1 Million and above, contact Canara Bank branch for specialised rates.
Interest Compounding: Earnings are compounded every six months (half-yearly).
Calculation Standard: Interest is computed based on a 360-day year.
Growth Method: Compounded interest is added to the principal and paid out at maturity.

Benefits and Features of Canara Bank FCNr Rates

Market-Beating Returns:

FCNR interest rates that often significantly outperform local savings rates in the US, UK, or Europe.
Currency Safeguard:

The money stays in their chosen foreign currency, so they never have to worry about the Indian Rupee losing value against it.
Maximized Earnings:

The interest grows faster because the bank compounds their returns every 180 days.
Pure Profit :

NRIs don't pay a single rupee in Indian Income Tax or TDS on the interest they earn.
Official Recognition:

Accounts are fully supported in USD, GBP, EUR, CAD, and AUD, ensuring easy integration with their existing global finances.
Custom Timelines:

They can choose exactly how long to keep the money invested, with options anywhere from 1 to 5 years.
Emergency Cash:

If they need money in India, they can take a loan for up to 90% of the deposit value rather than breaking the investment.
Family Inclusion:

NRIs can manage the account jointly with NRI family members or even a resident Indian relative.
Future Proofing:

If they ever move back to India, they can easily convert the funds into a Resident Foreign Currency (RFC) account to keep holding of their foreign cash.

Conclusion

Canara Bank FCNR rates are competitive and give the highest returns up to 5.15% on USD for the tenure of 1 year to less than 2 years on Canara FCNR Account. The rates are applicable for the amount less than USD 1 Million (or its equivalent in other currencies). By combining competitive global yields with India's sovereign banking security, it serves as a dual-purpose tool for both wealth preservation and growth.

FAQs

What are the Canara bank FCNR Rates for senior citizens?

Unlike domestic fixed deposits rates, senior citizens (60+) receive the same interest rates as the general public for FCNR accounts; the extra 0.50% premium is reserved only for domestic Rupee deposits.
What are the latest Canara Bank FCNR Rates?

The latest FCNR rates by Canara Bank is from 1.50% to 5.15%.
What is the difference between FCNR (A) and FCNR (B) Platinum accounts for NRIs?

For NRIs, an FCNR account is a powerful way to invest in India without currency risk. It allows you to park your overseas earnings in stable foreign denominations, ensuring your savings are completely shielded from Rupee fluctuations while earning high, tax-free interest.

˜The insurers/plans mentioned are arranged in order of highest to lowest first year premium (sum of individual single premium and individual non-single premium) offered by Policybazaar’s insurer partners offering life insurance investment plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in

*Past 10 Year annualised returns as on 01-01-2026
*All savings plans are provided by the insurer as per the IRDAI approved insurance plan. Tax benefit is subject to changes in tax laws. Standard T&C Apply
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
**Returns are based on past 10 years' fund performance data (Fund Data Source: Value Research).
^Returns as on 10th Jan'25. 18% returns for Tata AIA Life Top 200 for the last 10 years.The past performance is not necessarily indicative of future performance. Source: Morningstar

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Canara Bank FCNR Rates

Latest Canara Bank FCNR Rates 2026

Canara FCNR (B) Account: Key Financial Terms

Benefits and Features of Canara Bank FCNr Rates

Market-Beating Returns:

Currency Safeguard:

Maximized Earnings:

Pure Profit :

Official Recognition:

Custom Timelines:

Emergency Cash:

Family Inclusion:

Future Proofing: