Among Govt. Banks This Bank Provides Highest Interest Rates On FDs Up To 8% To Senior Citizens

Among Govt banks, Canara Bank offers the highest interest rate on Fixed Deposits (FD) to senior citizens up to 8%. Canara Bank offers interest rates on FDs for callable & Non-Callable Deposits.

FD rates may differ based on whether the FD is callable or non-callable. Canara Bank's Fixed Deposit rates under Rs 2 Crore are effective from April 05, 2023, according to the bank's official website.

Callable

Under the Callable deposit scheme, the Bank offers interest rates between 4% to 7.25% to the general public, while for senior citizens, the bank offers interest rates between 4% to 7.75%. The highest interest rate of 7.35% to the general public and 7.75% to senior citizens are offered on tenure of 444 days. The tenure of FD ranges between 7 days to 10 years.

Interest Rates On Callable Deposits

Term Deposits (All Maturities)	General Public Rates (In %)	Senior Citizen Rates (In %)
7 Days to 45 Days	4	4
46 Days to 90 Days	5.25	5.25
91 Days to 179 Days	5.5	5.5
180 Days to 269 Days	6.25	6.75
270 Days to less than 1 Year	6.5	7
1 Year Only	7	7.5
444 Days	7.25	7.75
Above 1 Year to less than 2 Years	6.9	7.4
2 Years & above to less than 3 Years	6.85	7.35
3 Years & above to less than 5 Years	6.8	7.3
5 Years & above to 10 Years	6.7	7.2

Non Callable (above Rs. 15 Lakh)

Under the Non-Callable deposit scheme, the bank provides the highest interest rates to Senior Citizens at 8%. The bank offers 444 days Special Deposit Scheme, under which it offers 8% p.a. to super senior citizens (above 80). Non-callable deposit investments in Canara Bank must be above Rs 15 lakh and less than 2 Crore. The interest rates are applicable on deposit tenure between 46 days to 3 years.

General Public - The Bank offers interest rates on FDs between 5.30% to 7.40% for non-callable deposits to the general public. On 444 days of FD tenure, the bank offers the highest interest rate of 7.40%.

Senior Citizens - The Bank offers interest rates on FDs between 5.30% to 7.90% for non-callable deposits to senior citizens. The bank offers the highest 7.90% interest on a tenure of 444 days.

Super Senior Citizens - The Bank offers interest rates on FDs between 5.30% to 8% for non-callable deposits to senior citizens. The bank offers the highest interest rate of 8% on a tenure of 444 days.

Interest Rates - Non-Callable Deposits

Term Deposits (All Maturities)	General Public Rates (In %)	Senior Citizen Rates (In %)
7 Days to 45 Days	NA	NA
46 Days to 90 Days	5.3	5.3
91 Days to 179 Days	5.55	5.55
180 Days to 269 Days	6.3	6.8
270 Days to less than 1 Year	6.55	7.05
1 Year Only	7.25	7.75
444 Days	7.4	7.9
Above 1 Year to less than 2 Years	7.15	7.65
2 Years & above to less than 3 Years	7.1	7.6
3 Years & above to less than 5 Years	NA	NA
5 Years & above to 10 Years	NA	NA

Please Note - Non-callable term deposits are deposits where PREMATURE WITHDRAWAL IS NOT PERMITTED.

According to the bank, "Additional interest of 0.50% for Senior Citizens is available for Deposits (Other than NRO/NRE and CGA Deposits) less than Rs. 2 Cr and with tenor of 180 Days and above."

According to the Bank, "Additional rate of interest 0.60% for Super Senior Citizen (80 years and above) is introduced under Canara-444 product only i.e. 7.85% for callable deposits and 8% for non callable deposits."

Canara Bank Offers 6.70 % p.a. for the Canara Tax Saver Deposit scheme (General Public). Under the Ta Saver Deposits, the maximum deposit acceptable is Rs 1.50 Lakh, according to the Bank's official website.

Source: CanaraBank.com