Deposit shall be renewed automatically for a similar period on the date of maturity at the rate of interest applicable for the period as on the date of maturity, in the absence of any renewal instructions well in advance. Auto Renewal facility is not available for Canara Tax Saver Deposits, Capital Gains Accounts, Canara Samriddhi deposits. Effective Annualized rate of return on Bank’s Re-investment Deposit Plan (Kamadhenu Deposit) is based on quarterly compounding of interest. Bank Offers 5.50% p.a. For Canara Tax Saver Deposit scheme (General Public). Maximum deposit acceptable is Rs 1.50 Lakh. The above Rate of interest is applicable to Recurring deposits also.
Canara Bank Fixed Deposit Interest Rate Calculator calculates the interest earned on a fixed deposit with the help of outlined components:
- Feb 22, 2021 Canara Bank has once again revised its fixed deposit rates across various maturities for deposits which are less than 2 crore with effect from 30th August 2019. The bank continues to provide 0.50% interest rate to the senior citizens. The highest Canara Bank FD interest rate is 6.25% for regular citizens and 6.75% for senior citizens.
- Canara Dhanvarsha a flexible Recurring Deposit with facility to deposit additional instalments in a month and earn contracted rate of interst for additional installments also; clik here to know more details. Scheme available at all branches. Open a Recurring Deposit Account at our nearest branch and fulfill your future plans.
(1) Deposit Amount
It is an amount which an FD account holder wants to invest in the fixed deposit. It is also called principal. It is to be remembered that this amount can be deposited only once hence you have to decide the amount to be invested according to your investment objectives.
(2) Interest Rate
It is the rate of interest offered by the bank where you open the FD. It differs for different tenures. Once FD is opened for a specific tenure then the interest rate will remain the same for the whole tenure.
(3) Term of Deposit (FD Tenure)
It is the duration for which the amount is invested in an FD which may vary from 7 days to 10 years. In the calculator, you can select the tenure in days, months or year.
Canara Bank India Fixed Deposit Rates
(4) Compounding of Interest
Canara Bank Deposit Rates
Interest can be compounded on monthly, quarterly, half yearly or annual basis. It can be a simple interest as well. You need to enter it based on the offer by the bank.
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