Fixed Deposit Details
Bank Name
Canara Bank
Eligibility
Individual, Joint (not more than 4), a Guardian on behalf of a minor, HUF, Partnership, a Company, Association or any other Institution.
Interest Rate
Up to 7.25% per annum.
Tenure
5 months to 120 months.
Fixed Deposit Type
Regular
Kamadhenu Deposit
Tax Benefits
None
Credit Ratings
CRISIL A1+
Interest Payment Frequency
On Maturity. Typically for fixed deposits having interest payment at maturity, compound interest is applicable and for fixed deposits having monthly interest payment, simple interest is applicable. Typically fixed deposits having a tenure of one year or less, simple interest is applicable. It is best to consult the bank officials before you book a fixed deposit
Cummulative/Non-Cummulative
Cumulative
Features
- Deposits shall be eligible for a Demand Loan /overdraft facility of up to 90% of the deposit amount.
- Minimum deposit amount of Rs.1000
- No limit on the maximum deposit amount.
- Facility of part withdrawal of deposits in units of Rs.1000 is available.
Minimum Investment Amount
1,000
Features & Benefits
Pros
- No limit on the maximum deposit amount.
- Part withdrawal facility.
Cons
- Low interest rates for certain tenure options.
- Interest payout will be only done at maturity.
Pros & Cons
How to Open?
1. Visit a Canara Bank branch: Locate a branch near you and visit during their operating hours.
2. Gather necessary documents: Prepare the following documents:
- Identity proof (Aadhaar card, passport, driving license, etc.)
- Address proof (Aadhaar card, passport, utility bill, etc.)
- Income proof (if applicable, such as salary slips, Form 16)
- Photographs
3. Submit the application form: Fill out the fixed deposit application form provided by the bank. You will need to provide details about the deposit amount, tenure, interest payout options, and nominee information.
4. Make the deposit: Deposit the required amount to open the FD. You can choose to pay in cash, by cheque, or through electronic transfer.
5. Receive the fixed deposit receipt: Once the deposit is made, you will receive a fixed deposit receipt (FDR) as proof of your investment.
Product Review
About this content
Public source: Original MyRupaya page
Captured 2026-11-06T10:59:26Z. Public page text has been preserved and restyled. Historical financial/product information may be outdated. Embedded widgets and forms are not copied or connected to live services.
