Canara Bank Fixed Deposit Rate: Public Sector Bank has changed the interest rates of Fixed Deposit (FD) and Savings Account. The new rates of Canara Bank have come into effect from 7 August 2025. These new rates will be applicable to both general customers and senior citizens.
Canara Bank Fixed Deposit Rate: Public Sector Bank has changed the interest rates of Fixed Deposit (FD) and Savings Account. The new rates of Canara Bank have come into effect from 7 August 2025. These new rates will be applicable to both general customers and senior citizens.
New interest rates on FD
General customers will now get interest ranging from 3.25% to 6.50% on callable FD of less than Rs 3 crore. The maximum interest of 6.50% will be available on FD of 444 days. Callable FDs have the facility of premature withdrawal, but as per the rules applicable from March 2019, a penalty of 1% will have to be paid for early withdrawal or partial withdrawal. For senior citizens, the interest rate will be between 3.25% to 7%. They will get a maximum of 7% interest on FDs of 444 days.
Savings account rates
The bank has also reduced the interest rates on savings accounts. Now interest will be available from 2.55% to 4% depending on the balance, whereas earlier it was 2.70% to 4%.
Why did the rates change?
This change comes a day after RBI’s August 6 2025 policy review, in which the repo rate was kept stable at 5.55%. This year RBI has reduced the repo rate by a total of 100 basis points, due to which many banks have cut deposit rates.
What is the difference between callable and non-callable FD
Canara Bank FDs are of two types – callable and non-callable. In callable FDs, you can withdraw money before time if needed, while in non-callable FDs, withdrawal of money before maturity is not allowed. If you withdraw, you have to pay a penalty. Therefore, before making an FD, it is important to understand when and how you may need money.
According to Canara Bank’s website, general and senior citizens are getting this much interest
| Period | General public | Senior Citizens | General public | Senior Citizens | ||||
| Rate of Interest (% per annum) | Annual Interest Yield (% p.a.) | Interest Rate (% per annum) # | Annual Interest Yield (% p.a.) ** | Rate of Interest (% per annum) | Annual Interest Yield (% p.a.) ** | Interest Rate(% per annum) # | Annual Interest Yield (% p.a.) ** | |
7 days to 45 days | 3.25 | 3.29 | 3.25 | 3.29 | Not Applicable | Not Applicable | Not Applicable | Not Applicable |
46 days to 90 days | 4.25 | 4.32 | 4.25 | 4.32 | 4.35 | 4.42 | 4.35 | 4:42 |
91 days to 179 days | 4.50 | 4.58 | 4.50 | 4.58 | 4.60 | 4.68 | 4.60 | 4.68 |
180 days to 269 days | 5.50 | 5.61 | 6.00 | 6.14 | 5.60 | 5.72 | 6.10 | 6.24 |
270 days but less than 1 year | 5:75 | 5:88 | 6.25 | 6.40 | 5:85 | 5.98 | 6.35 | 6.50 |
1 year and above to 1 year 3 months only | 6.25 | 6.40 | 6.75 | 6.92 | 6.35 | 6.50 | 6.85 | 7.03 |
444 days | 6.50 | 6.66 | 7.00 | 7.19 | 6.60 | 6.76 | 7.10 | 7.29 |
More than 1 year 3 months and less than 2 years | 6.25 | 6.40 | 6.75 | 6.92 | 6.35 | 6.50 | 6.85 | 7.03 |
2 years or more but less than 3 years | 6.25 | 6.40 | 6.75 | 6.92 | 6.35 | 6.50 | 6.85 | 7.03 |
3 years or more but less than 5 years | 6.25 | 6.40 | 6.75 | 6.92 | Not Applicable | Not Applicable | Not Applicable | Not Applicable |
5 years or more up to 10 years | 6.25 | 6.40 | 6.75 | 6.92 | Not Applicable | Not Applicable | Not Applicable | Not Applicable |
