FD Rate: According to the bank’s website, now general customers will get interest ranging from 4% to 7.25% on FD and senior citizens will get interest ranging from 4% to 7.75%.
Canara Bank has cut interest rates on fixed deposits (FDs) of select tenures from April 10, 2025. This change will be applicable on deposits of less than Rs 3 crore. According to the bank’s website, now general customers will get interest ranging from 4% to 7.25% on FDs and senior citizens will get interest ranging from 4% to 7.75%.
New FD interest rates for general customers
| Tenure of FD | Interest Rate (Ordinary Citizen) | Notes |
|---|---|---|
| 7 to 45 days | 4.00% | |
| 46 to 90 days | 5.25% | |
| 91 to 179 days | 5.50% | |
| 180 to 269 days | 6.15% | Previously 6.25%, cut by 10 bps |
| Less than 270 days in a year | 6.25% | |
| One year (12 months) | 6.85% | |
| 444 days | 7.25% | |
| 1 year to 2 years | 6.85% | |
| 2 years to 3 years | 7.15% | 15 bps cut |
| 3 years to 5 years | 7.20% | 20 bps cut |
| 5 years to 10 years | 6.70% |
New interest rates for senior citizens
Canara Bank is now offering senior citizens interest ranging from 4% to 7.75% on FDs with maturity period ranging from 7 days to 10 years. Tax saver FDs are also offering a return of 7%.
Interest Rates as per FD Tenure (General & Senior Citizen)
| Duration | General Customer | Senior Citizens |
|---|---|---|
| 7 – 14 days | 3.50% | 4.00% |
| 15 – 29 days | 3.75% | 4.25% |
| 30 – 90 days | 4.25% | 4.75% |
| 91 – 180 days | 4.75% | 5.25% |
| 6 Months – 9 Months | 6.00% | 6.50% |
| 9 Months – 12 Months | 6.00% | 6.50% |
| 12 months 1 day – 18 months | 8.30% | 8.80% |
| 18 Months – 24 Months | 8.30% | 8.80% |
| 24 months 1 day – 36 months | 7.50% | 8.00% |
| 36 months 1 day – 60 months | 6.50% | 7.00% |
| 60 months 1 day – 120 months | 6.25% | 6.75% |
| Tax Saver FD (5 Years) | 6.50% | 7.00% |
Be sure to know this before investing
If you are planning to invest in FD, then take a decision keeping in mind the new rates. FD still remains a safe and better option for senior citizens.
