Canara Bank introduces special FD scheme. Interest rate, tenure, other detail

Canara Bank has also introduced special fixed deposit (FD) scheme for public in general. This special term deposit scheme introduced by the state-owned bank is for amount below ₹2 crore.  

This special Canara Bank FD scheme is valid till 30th September 2022 and the interest rate offered on this special FD scheme is 5.10 per cent per annum. 

According to the Canara Bank website, the bank has added a new tenor of 333 days scheme offering interest rate of 5.10 per cent.

For the same tenor senior citizen will get 5.60 per cent. This effective from June 23, 2022.

The bank now offers an interest rate between 2.90 per cent to 5.75 per cent for regular citizens.

Deposits with a tenor of 180 days or more are eligible for an additional interest rate of 0.50 per cent for senior citizens.

For the Canara Tax Saver Deposit programme, the bank is offering 5.75 per cent annual interest (General Public). The maximum deposit that can be made is Rs. 1.50 lakh.

Domestic/NRO term deposits of less than Rs. 2 crore would be subject to a penalty of 1.00 percent for premature closure, part withdrawal, or premature extension.

On term deposits, however, that are prematurely closed or extended before the end of the seventh day, no interest will be paid.