Canara Bank Deposit Rates

See full list on bankbazaar.com. The bank has cut the FD rates by 15 bps on long-term deposits maturing in 1 year to 10 years. Now FD interest rate for 7 to 45 days is 4.50%, for 46 to 179 days is 5.50%, for 180 days to 1 year is 5.80% and for 1 year to 10 years is 6.10%. Existing Canara Bank fixed deposit interest rates range from 3% to 5.30%. You can open a Canara Bank fixed deposit at any nearest branch or alternatively invest in it online or their website. Loans against FDs - You can avail a loan against your FD up to 90% of the deposit amount. Canara Bank Savings Bank Account (SB account) is intended for savings for future. The main objective of this type of account is to promote savings habit in any person. A savings account is one of the most basic bank accounts offered by banks. It lets you keep your money in a safe place, deposit and withdraw as and when you need it, without any.

See Full List On Bankbazaar.com
Canara Bank Fixed Deposit Rates
Canara Bank FD Rates: Latest Fixed Deposit Interest Rate 2021
Canara Bank Deposit Rates

See Full List On Bankbazaar.com

Canara Bank Fixed Deposit Interest Rate Calculator calculates the interest earned on a fixed deposit with the help of outlined components:

Canara Bank FCNR FD Interest Rates (as on 02 Mar 2021). The FCNR FD interest rates on currency like USD, GBP, EUR,AUD, CAD, YEN. FCNR Fixed deposit depends on term deposit for example 1 year, 2 years or upto 5 years you deposit your money and your choice between different banks.

(1) Deposit Amount

It is an amount which an FD account holder wants to invest in the fixed deposit. It is also called principal. It is to be remembered that this amount can be deposited only once hence you have to decide the amount to be invested according to your investment objectives.

(2) Interest Rate

It is the rate of interest offered by the bank where you open the FD. It differs for different tenures. Once FD is opened for a specific tenure then the interest rate will remain the same for the whole tenure.

(3) Term of Deposit (FD Tenure)

It is the duration for which the amount is invested in an FD which may vary from 7 days to 10 years. In the calculator, you can select the tenure in days, months or year.

(4) Compounding of Interest

Interest can be compounded on monthly, quarterly, half yearly or annual basis. It can be a simple interest as well. You need to enter it based on the offer by the bank.

A Savings Account is very beneficial with multiple advantages as detailed below:

(1) Earns Interest on your Savings

This is the first and foremost benefit of opening a savings account. It starts earning interest on your money as soon as it is deposited. The interest rate is decided solely by the bank and changes from time to time. Regular interest depends upon the balance of the savings account.

Interest rate in savings account ranges from 3.5% to 7%.

(2) Provides Security of Funds

There is no risk involved in your savings account. It is considered as one of the safest investment alternatives. It even offers you the opportunity to put your money into another investment whenever the time comes.

(3) No Lock-in Period

There is no lock-in period under savings account which means that you can withdraw your deposits anytime you need. There is no need to keep your money in this account for any specific period. You have full flexibility in withdrawal of amount from it.

(4) Offers Liquidity

You can withdraw the amount anytime 24X7 with the use of ATM card or debit card from your account during any emergency even when the bank is closed. In fact, being able to access your money when you need it, is one of the biggest benefit of having a savings account.

(5) Availability of Variety of Savings Account

Many banks offer comprehensive range of savings accounts from regular to premium suiting to your personal banking needs. There are different types of savings accounts offered by various banks that differ based on the interest rates and duration of time commitments. You can choose any of them which suits your financial objectives and requirements.

Canara Bank Fixed Deposit Rates

(6) Services of Customer Relation Manager

Now-a-days many of the banks engage a Customer Relation Manager (CRM) who will help not only solve your queries but also assist you in tax saving, investment, mutual fund schemes, insurance, bank procedures, etc. You need to just call your CRM and he/ she will assist you solve your problem.

(7) Online Banking Facilities

If you maintain a savings account, you can make many transactions online also such as payment of bills, fund transfers using RTGS/ NEFT or IMPS, etc. This will save your time and efforts.

(8) Provides ATM/ Debit Card

You will be offered a debit or ATM card with a nominal charge or without any charges, as offered by your bank. With the help of this card, you can withdraw the funds, make transactions in shops, make payments of bills, etc.

(9) Helps you Get Credit or Loan

The relation you maintain with the bank will help you in getting credits from the bank such as home loan, personal loan. You will also be in a position to negotiate with the banker on the interest rates.

(10) No Cap on Deposits

There is no limit on the amount deposited and number of times it is deposited.

(11) Facility to link Loan EMIs, Mutual Fund SIPs or RD deductions

You get a facility to link your monthly loan EMIs, Mutual Fund SIPs or RD deductions through the savings bank account.

Canara Bank FD Rates: Latest Fixed Deposit Interest Rate 2021

(12) Free Mobile App