KDR means Kamadhenu Deposit and FDR is normal Fixed Deposit. In KDR, the interest is not credited or paid to the customer at agreed intervals during the life of the deposit. In KDR the interest accrues during the currency of the deposit and is pai. Canara Bank FD Interest Calculator is an online financial tool that allows you to calculate the maturity value of your fixed deposit at the interest rate offered by bank. The amount of FD, interest rate, deposit tenure and compounding frequency of interest together determine the maturity amount of the FD at the end of the tenure. Canara Bank has revised its fixed deposit interest rates with effect from February 8, 2021, on all deposits less than Rs 2 crore. The bank has cut FD interest rates on deposits maturing in a year. Current Canara Bank FD interest rates on regular fixed deposit schemes can help investors to save and earn decent returns with minimal risk. Minimum deposit of ₹1000 - The minimum deposit to open a fixed deposit in Canara Bank is ₹1000. Given the focus on rural development, this nominal amount is easy for most people across the country. And Canara Bank is one among those banks which offers the service of fixed deposit to the people who have a bank account with them. The actual concept of a fixed deposit is that you will earn more interest rates when we compare that to a savings bank account.

Table of Contents

2 Fixed Deposit Interest Rate
- 2.5 Canara Bank Fixed Deposit Calculator

About Canara Bank Fixed Deposit

Fixed Deposit is the ideal way to invest for a longer period of time and earn solid interest. It’s easy liquidity and high rates of return assure the safety of the depositor’s money. Several banks allow the premature withdrawal of the funds invested. Canara Bank is one amongst them.

It allows the customer to invest the amount for the flexible tenure ranging from 15 days to 10 years. The customer can withdraw the amount in parts as and when he needs or can close the fixed deposit before its maturity. This facility is available on Canara Fixed Deposit and Canara Kamadhenu Deposit. However, this facility is not applicable on Canara Tax Saver Scheme.

Fixed Deposit Interest Rate

On amount less than ₹2 Crore (w.e.f. 26.02.2020)

Tenure	General	Senior Citizen
Interest Rate	Interest Rate
7 days-14 days	4.50% p.a.	4.58% p.a.
15 days to 30 days	4.50% p.a.	4.58% p.a.
31 days to 45 days	4.50% p.a.	4.58% p.a.
46 days to 90 days	5.00% p.a.	5.09% p.a.
91 days to 120 days	5.35% p.a.	5.46% p.a.
121 days to 179 days	5.35% p.a.	5.46% p.a.
180 days to 269 days	5.75% p.a.	5.88% p.a.
270 days to less than 1 year	5.75% p.a.	5.88% p.a.
1 year	6.15% p.a.	6.29% p.a.
Above 1 year to less than 2 years	6.00% p.a.	6.14% p.a.
2 years & above to less than 3 years	6.00% p.a.	6.80% p.a.
3 years & above to less than 5 years	6.25% p.a.	6.40% p.a.
5 years & above to less than 8 years	6.25% p.a.	6.40% p.a.
8 years & above to 10 years	6.25% p.a.	6.40% p.a.

Types of Fixed Deposit Scheme

Canara Bank Fixed Deposit

You can invest in the Canara Bank Fixed Deposit with the minimum amount of ₹1,000 and receive interest as per your requirement. You can also avail of the loan facility against the amount of investment.

Particulars	Description
Minimum Deposit Amount	₹1,000
Maximum Deposit Amount	No ceiling
Minimum Tenure	15 days (7 days in case of single deposit of ₹5 lac and above)
Maximum Tenure	120 months
Interest Payment Frequency	Monthly, quarterly, half-yearly or annually
Special Rate for Senior Citizen	Additional interest of 0.50%
Premature Withdrawal	Permitted
Partial Withdrawal	Permissible in units of ₹1,000
Nomination Facility	Available
Loan Against Deposit	Available

Canara Bank Kamadhenu Deposit (Reinvestment Plan)

Under this scheme, the investor’s deposit is automatically renewed for the same time period. The interest on the fixed deposit is paid at the time of maturity. Senior citizens are entitled to extra interest benefit of 0.50%.

Particulars	Description
Minimum Deposit Amount	₹1,000
Maximum Deposit Amount	No ceiling
Minimum Tenure	5 Months
Maximum Tenure	120 months
Interest Payment	At Maturity
TDS	Applicable
Premature Withdrawal	Allowed, penalty charged(1% on deposits of less than 1cr.),(No penalty levied on amount of 1cr. & above)
Auto-Renewal Facility	Available
Nomination Facility	Available
Special Rate for Senior Citizen	Additional interest of 0.50%
Loan Facility	Available (upto 90%)
Eligibility	Individual, Joint(not more than 4), a guardian on behalf of minor, HUF, Partnership & Company, Association or any other institution
Documents	Application in the Bank's Prescribed Form Copy of PAN Card/ Form 60 or 61(if customer doesnot have PAN) 2 Photographs of depositor/s Proof of identity & address as per KYC Norms Any other related documents as applicable to proprietorship concern, Partnership Firm, Company, HUF etc.

Canara Tax Saver Scheme

The Tax Saver Scheme is beneficial for the salaried class, businessmen, and professionals, who come under the ambit of taxpayers. You can invest in this scheme with the minimum amount of ₹100. The investment can be made individually or combined. However, in case of joint account, the income deduction under Section 80C, of the Income Tax Act 1961, shall be available to the first holder of the deposit.

Eligibility

Individual – Single Accounts, Two or more individuals – Joint Accounts, Sole Proprietary Concerns, Partnership Firms, Limited Liability Companies, Association, Clubs, Societies, Trusts, etc., Minors, Blind Persons, Illiterate Persons, Joint Hindu Families, Municipalities, Panchayats, Govt. & Quasi Government Bodies, Religious, Educational, Charitable Institutions, etc. are eligible to invest in this scheme

Documentation

Particulars	Details
An Individual, Hindu Undivided Family, Sole Proprietorship Concern	ID Proof, Address Proof, A photograph
Trusts	Copy of the Trust Deed, Copy of the registration certificate, Copy of the Resolution of The Trustees, Authorising the members concerned to open and operate the account, Photographs of the members operating the account
Associations / Clubs	By-laws of the Association, Copy of the Resolution by the board authorising the members concerned to open and operate the account, Photographs of the members operating the account
Partnership Firm	Partnership Deed, Letter from partners approving the persons concerned to open and operate the account, Photographs of the persons operating the account
ID Proof	Address Proof