Canara Bank Fixed Deposit

Opening a fixed deposit is really good way to invest your money and get good amount of return for the money you have invested. We all want to be rich and to get rich we need to invest our money to increase the amount of money which we have with us. When it comes to investment there many places where you can invest your money where your money grows, but the main thing is when you invest your money anywhere the first thing you need to check is risk. How much risk are you taking with the money which you have invested there?

Canara Bank Fixed Deposit Scheme The minimum amount you can deposit in Canara Bank fixed deposit scheme is Rs. There is no maximum limit to the amount of deposit. You can elect to keep your deposit for a period of 15 days to 120 months (10 years). Canara Bank offers NRO Fixed deposit interest rates to NRI customers from 1 year to 5 plus years. Find Canara Bank FD interest for NRO customer from below list. Canara Bank provides different services to its customers some of them are Home loan, Personal loan, Car loan, Two Wheeler loan, Gold loan. New Delhi, Dec 3 (PTI) State-owned Canara Bank has raised its rates by 0.2 per cent for fixed deposits having a maturity period of at least two years.

Oct 07, 2020 Canara Bank Fixed Deposit – Individuals, HUF members, joint account holders, companies and other organisations are eligible for this scheme. The maturity period ranges between 15 days and 10 years. The maturity period ranges between 15 days and 10 years. Now deposit your the amount of which you are making FD. Once you have done with depositing your amount in Canara bank, you are done with it. So this was how you can open Fixed Deposit in Canara bank, I hope you are clear with all the steps which I have mentioned in this guide. As I have already mentioned if you have any doubts you.

We should always check the risk level while investing our money somewhere. And today I will tell you a complete new way where your money will grow with time i.e. you will get good amount of returns for your money which you are investing. But the risk level here is very less! Yes you heard it right the risk level is almost zero here. I am talking about Fixed Deposits. If you are searching online for an article in which you will find information about how to open Fixed deposit in Canara Bank. Then let me tell you that you have been landed on the right website here. Because in this guide on Online Indians you will find how you can open fixed deposit in Canara bank.

Contents

Things you should know about Fixed Deposit.

Canara Bank Fixed Deposit Online

But before we proceed to the further part of this guide I would like to tell you few things about Fixed Deposits before you open one for you.

  • In this guide you will find the procedure which you need to follow to open fixed deposit in Canara Bank offline process and not online.
  • The minimum tenure or term period for which you can make Fixed Deposit is 7 days.
  • The maximum tenure or term period is 10 Years.
  • When you open a FD and it gets matured, if you don’t visit your home branch where you had opened your FD, it will be automatically renewed.
  • The name on the FD account should be exactly same as on the savings bank account to which you want your FD amount to be funded.

How to Open Fixed Deposit in Canara Bank?

See full list on bankbazaar.com

So now let us get started with this guide and check out how you can open Fixed deposit in Canara Bank. I have mentioned all the steps which you need to follow, after reading this guide if you have any kind of doubts in your mind you can leave your comment below.

Canara Bank Fixed Deposit Rate

  • The first thing you need to do is collecting the FD form, you can download this form online or else you can visit your Canara Bank home branch and ask them for the form. You will get it there.
  • Filling FD form, now you need to fill the form with all the details which are asked to you in the form.
  • After that you need to collect the documents which you need to submit to your bank.
  • Documents: You need to submit photocopies of your PAN card and address proof documents.
  • Make sure you make your signature on the photocopies of your documents. Because without your signature on them they will not be considered as valid documents.
  • When you have completed filling the form and collecting your documents, visit your home branch.
  • Talk with the bank officials and show your form and photocopies of your documents and verify with them if you have taken the right documents and filled the form correctly.
  • Now deposit your the amount of which you are making FD.
  • Once you have done with depositing your amount in Canara bank, you are done with it.

Final Words.

See Full List On Canarabank.com

So this was how you can open Fixed Deposit in Canara bank, I hope you are clear with all the steps which I have mentioned in this guide. As I have already mentioned if you have any doubts you can comment below. I will respond to your comment as soon as possible. And if you want to get assisted quickly you can visit your Canara bank home branch during working hours. They will assist your with the procedure.

Canara Bank Fixed Deposit Calculator

ELIGIBILITY

Individual, Joint (not more than 4), a Guardian on behalf of a minor, HUF, Partnership, a Company, Association or any other Institution

INVESTMENT

Minimum - Rs.1000
Maximum - No ceiling

PERIOD OF DEPOSIT

Minimum 15 days (7-14 days – Only for single deposit of Rs.5 lakh and above)
Maximum 120 months

INTEREST RATE

Depending upon the period of the deposit as prevailing from time to time.
Visit our Deposits Interest rate Page here

PERIODICITY OF INTEREST PAYMENT

Monthly (at discounted rates), Quarterly, Half-yearly or Annual intervals as per depositor's choice

SPECIAL RATE FOR SENIOR CITIZEN

Additional interest rate of 0.50% will be paid for domestic term deposits (including RD and except for NRO, NRE and Capital Gains Deposit scheme) of less than Rs. 2 Cr and with tenor of 180 Days and above, over and above the rate offered for General public.


The system will automatically enable preferential ROI of 0.50% to all existing eligible Domestic Term Deposits and RD Deposits from the date of Customer attaining Senior Citizen status w.e.f. 24.07.2018


In case of death of the Senior Citizen before the date of maturity, the deposit may be continued with the contracted interest rate only if there is no change to the other contracted terms.

TDS ON INTEREST

Applicable

NOMINATION FACILITY

Available

LOAN FACILITY

Available upto 90% of the deposit amount

PENALTY FOR PREMATURE CLOSURE/ PART WITHDRAWAL / PREMATURE EXTENSION OF DEPOSIT:

A penalty of 1.00% shall be levied for premature closure/part withdrawal/premature extension of Domestic/NRO term deposits of less than Rs. 2 Crore that are accepted /renewed on or after 12.03.2019.


For premature closure/part withdrawal/premature extension of Domestic/NRO term deposits, the Bank imposes a penalty of 1.00%. Such prematurely closed/part withdrawn/prematurely extended deposits will earn interest at 1.00% below the rate as applicable for the relevant amount slab as ruling on the date of deposit and as applicable for the period run OR 1.00% below the rate at which the deposit has been accepted, whichever is lower.”


A penalty of 1.00% is waived in case of premature closure/part withdrawal/ premature extension of Domestic/NRO CALLABLE term deposit of Rs. 2 Crore & above that are accepted/renewed on or after 12.03.2019. However, a penalty of 1.00% shall be levied for premature closure/part withdrawal/premature extension of Domestic/NRO term deposits of Rs.1 Crore & above that are accepted /renewed from 04.02.2011 to 12.10.2012


Such prematurely closed/part withdrawn/prematurely extended deposits will earn interest at the rate as applicable for the amount slab of Rs.2 Crore & above as ruling on the date of deposit and as applicable for the period run OR the rate at which the deposit has been accepted, whichever is lower

Online


No interest will be payable on term deposits prematurely closed/prematurely extended before completion of 7th day.


A penalty of 1.00% is applicable on Term Deposits under Capital Gains Account Scheme-1988, which are prematurely converted/withdrawn/closed, irrespective of the size of the deposit amount.

EXTRA FACILITY

Facility of part withdrawal of deposits in units of Rs.1,000/- keeping the rest of the deposit to earn contracted rate of interest.

AUTO RENEWAL OF DEPOSIT

Deposit shall be renewed automatically for a similar period on the date of maturity at the rate of interest applicable for the period as on the date of maturity, in the absence of any renewal instructions well in advance.


Auto Renewal facility is not available for Canara Tax Saver Deposits, Capital Gains Accounts, Canara Samriddhi deposits(discontinued w.e.f. 01.10.2015), Canara Khazana and Shikhar Deposits (discontinued w.e.f. 26.03.2020) and Non-callable deposits.

OVERDUE DEPOSITS

a) The deposit will be renewed automatically from the date of maturity for a similar period at the interest rate prevailing on the date of maturity for the period of deposit, if automatic renewal has been opted by the depositor at the time of opening of the deposit account (except deposits opened under Capital Gains Scheme, Canara Tax Saver Scheme & Non-callable term deposits).

b) If automatic renewal of the deposit is not opted by the depositor and the deposit remains with the Bank after the date of maturity (even if the CBS system renews the deposit automatically), the same will be treated as an overdue term deposit from the date of maturity of the original deposit. The overdue term deposit will be paid interest at prevailing Savings Bank rate for the overdue period, i.e. from the date of maturity of the original deposit till the date of payment/ re-investment.

APPLICATION & DOCUMENTS

Application in the Banks’ prescribed form.

Copy of PAN Card / Form 60 or 61 (if customer does not have PAN Card).

Photograph of Depositor/s (2 copies).

Proof ofIdentity and address as per KYC Norms.

Any other related documents as applicable to proprietor ship concern, Partnership Firm, Company, HUF etc.