Canara Bank’s Fixed deposit rates! Earn up to 7.40% p.a. on FDs, with special schemes like 444 Days Deposit and Tax Saver FD. Explore competitive savings, NRI, and RD rates for secure, high returns. Start investing smartly today!
Canara Bank, one of India’s leading public sector banks, offers a range of deposit schemes with competitive interest rates tailored for both domestic and NRI customers. Whether you’re a senior citizen, a salaried professional, or an NRI looking to grow your savings, Canara Bank’s savings and term deposit accounts provide secure and attractive returns. In this comprehensive guide, we explore the latest Canara Bank deposit interest rates as of July 2025, as per RBI guidelines, to help you make informed investment decisions. Dive in to discover how you can maximize your savings with Canara Bank FD rates, savings account rates, and special schemes like the Canara 444 Days Deposit.
Why Choose Canara Bank for Deposits?
Founded in 1906 and headquartered in Bengaluru, Canara Bank is a trusted name in Indian banking, known for its secure investment options and customer-centric schemes. With a network of over 9,700 branches and a AAA credit rating, it ensures safety and reliability for your hard-earned money. Canara Bank’s deposit products, including savings accounts, fixed deposits (FDs), and recurring deposits (RDs), cater to diverse financial goals, offering high returns, flexible tenures, and tax-saving benefits. The bank’s Kamadhenu Deposit (reinvestment plan) and Canara Tax Saver Deposit are particularly popular for their compounding benefits and tax exemptions under Section 80C.
Canara Bank Fixed Deposit Interest Rates 2025
Canara Bank’s fixed deposit schemes are designed to offer guaranteed returns with tenures ranging from 7 days to 10 years. The rates, effective from June 9, 2025, for deposits below Rs. 3 Crore, cater to both general public and senior citizens, with additional benefits for the latter. Below is a detailed table for callable and non-callable deposits:
| Tenure | General Public (Callable) | Senior Citizen (Callable) | General Public (Non-Callable) | Senior Citizen (Non-Callable) |
| 7 to 45 Days | 3.50% (3.55% yield) | 3.50% (3.55% yield) | NA | NA |
| 46 to 90 Days | 4.50% (4.58% yield) | 4.50% (4.58% yield) | 4.60% (4.68% yield) | 4.60% (4.68% yield) |
| 91 to 179 Days | 4.75% (4.84% yield) | 4.75% (4.84% yield) | 4.85% (4.94% yield) | 4.85% (4.94% yield) |
| 180 to 269 Days | 5.75% (5.88% yield) | 6.25% (6.40% yield) | 5.85% (5.98% yield) | 6.35% (6.50% yield) |
| 270 Days to < 1 Year | 6.00% (6.14% yield) | 6.50% (6.66% yield) | 6.10% (6.24% yield) | 6.60% (6.77% yield) |
| 1 Year to 1 Year 3 Months | 6.50% (6.66% yield) | 7.00% (7.19% yield) | 6.60% (6.77% yield) | 7.10% (7.29% yield) |
| 444 Days | 6.60% (6.77% yield) | 7.10% (7.29% yield) | 6.70% (6.87% yield) | 7.20% (7.40% yield) |
| > 1 Year 3 Months to < 2 Years | 6.50% (6.66% yield) | 7.00% (7.19% yield) | 6.60% (6.77% yield) | 7.10% (7.29% yield) |
| 2 Years to < 3 Years | 6.50% (6.66% yield) | 7.00% (7.19% yield) | 6.60% (6.77% yield) | 7.10% (7.29% yield) |
| 3 Years to < 5 Years | 6.50% (6.66% yield) | 7.00% (7.19% yield) | NA | NA |
| 5 Years to 10 Years | 6.50% (6.66% yield) | 7.00% (7.19% yield) | NA | NA |
Key Notes:
- Senior Citizens: An additional 0.50% p.a. for deposits of 180 days and above (except NRO/NRE and Capital Gains Accounts). Super Senior Citizens (80+ years) get an extra 0.60% on the Canara 444 Days Deposit, offering 7.20% (callable) and 7.30% (non-callable).
- Non-Callable Deposits: Available for deposits above Rs. 1 Crore, where premature withdrawal is not permitted, offering slightly higher rates.
- Canara Tax Saver Deposit: Offers 6.50% p.a. for the general public with a 5-year lock-in and a maximum deposit of Rs. 1.5 Lakh, qualifying for tax deductions under Section 80C.
- 444 Days Special Scheme: Introduced on April 5, 2023, this scheme offers 6.60% (general) and 7.10% (senior citizens) for callable deposits, making it one of the highest FD rates for retail investors.
- Minimum Deposit: Rs. 1,000 for most schemes; Rs. 5 Lakh for deposits of 7–14 days.
Recurring Deposit (RD) Interest Rates
Canara Bank’s recurring deposit schemes, such as the Nitya Nidhi Deposit and Dhanvarsha Flexi RD, are ideal for disciplined savers. The RD rates align with FD rates, ranging from 5.50% to 6.75% p.a. for the general public and 6.05% to 7.25% p.a. for senior citizens, compounded quarterly. The minimum deposit is Rs. 50 per month, with tenures from 6 months to 10 years. A penalty of Rs. 1.5 per Rs. 100 installment applies for premature closure of RDs with tenures less than 5 years.
NRI Deposit Schemes: NRE, NRO, and FCNR
Canara Bank offers specialized deposit schemes for Non-Resident Indians (NRIs), including NRE, NRO, and FCNR (B) accounts:
- NRE FD Rates: Align with domestic FD rates (6.50%–7.40% p.a.), with tenures from 1 year to 10 years. Interest is tax-free in India, and no penalty applies for premature closure of deposits above Rs. 3 Crore after March 12, 2019.
- NRO FD Rates: Similar to domestic rates, with a 1% penalty for premature withdrawal on deposits below Rs. 3 Crore. Interest is repatriable after TDS, with benefits under the Double Taxation Avoidance Agreement (DTAA).
- FCNR (B) Deposits: Available in USD, GBP, EUR, CAD, and AUD for amounts below USD 1 Million, with rates effective from May 16, 2025. Contact the bank for specific rates.
Key Features of Canara Bank Deposits
- Flexible Tenures: From 7 days to 10 years for FDs and 6 months to 10 years for RDs, aligning with short- and long-term goals.
- Auto-Renewal: FDs (except specific schemes like Tax Saver and Non-Callable) are automatically renewed at the prevailing rate on maturity.
- Loan Facility: Avail loans up to 90% of the deposit amount, ensuring liquidity without breaking the FD.
- Premature Withdrawal: Allowed with a 1% penalty for deposits below Rs. 3 Crore (callable). No interest is paid if closed before 7 days (Domestic/NRO) or 1 year (NRE).
- Tax Benefits: The Canara Tax Saver Deposit offers deductions up to Rs. 1.5 Lakh under Section 80C. Interest income is taxable, with TDS at 10% (if PAN is provided) or 20% (without PAN) for income exceeding Rs. 40,000 p.a. (Rs. 50,000 for senior citizens).
- Green Deposit: Funds are allocated to eco-friendly projects, appealing to environmentally conscious investors.
How to Open a Canara Bank Deposit Account
Opening a Canara Bank FD or RD is seamless via online or offline modes:
- Online:
- Log in to Canara Bank NetBanking or the Canara ai1 App.
- Navigate to the Term Deposit or RD section and select New Account.
- Enter deposit amount, tenure, nominee details, and maturity instructions.
- Click Open Deposit, verify, and authenticate the transaction.
- Offline:
- Visit a Canara Bank branch.
- Fill out the FD/RD application form.
- Submit KYC documents (Aadhaar, PAN, address proof, photos).
- Deposit the amount via cash or cheque and collect the receipt.
Eligibility: Resident individuals, NRIs, HUFs, companies, trusts, and minors (via guardians) can open accounts.
Why Invest in Canara Bank Deposits?
- High Returns: The 444 Days Deposit offers up to 7.20% p.a. (senior citizens, callable), among the highest FD rates in 2025.
- Safety: Covered under RBI’s Deposit Insurance Scheme up to Rs. 5 Lakh.
- Flexibility: Choose from monthly, quarterly, or yearly interest payouts to suit your cash flow needs.
- Trusted Legacy: With over a century of banking expertise, Canara Bank ensures reliability and customer satisfaction.
Tips for Maximizing Returns
- Opt for Longer Tenures: Higher rates for tenures like 3–5 years (7.40% p.a. for general public).
- Choose Non-Callable Deposits: Slightly higher rates for deposits above Rs. 1 Crore if you don’t need premature withdrawal.
- Use FD Calculators: Tools like Canara Bank’s FD Calculator help estimate returns accurately.
- Senior Citizen Benefits: Leverage the 0.50%–0.60% additional interest for maximum gains.
- Tax Planning: Invest in the Tax Saver FD for deductions and submit Form 15G/H to avoid TDS if applicable.
Final Thought
Canara Bank’s deposit interest rates for 2025 offer a blend of security, flexibility, and high returns, making it an ideal choice for risk-averse investors. From the Canara 444 Days Deposit to the Tax Saver FD, the bank caters to diverse financial needs. With competitive FD rates, NRI-friendly schemes, and senior citizen benefits, now is the perfect time to invest. Use Canara Bank’s online FD calculator to plan your investments and start growing your savings today. Visit canarabank.com or your nearest branch to explore these lucrative deposit schemes and secure your financial future.
With over 15 years of experience in Banking, investment banking, personal finance, or financial planning, Dkush has a knack for breaking down complex financial concepts into actionable, easy-to-understand advice. A MBA finance and a lifelong learner, Dkush is committed to helping readers achieve financial independence through smart budgeting, investing, and wealth-building strategies, Follow Dailyfinancial.in for practical tips and a roadmap to financial success!
