Canara Bank, a prominent public sector lender, is offering lucrative returns to its customers on fixed deposit accounts. Investors can choose to open an FD account with the bank for a minimum tenure of 7 days or extend their savings for up to a maximum period of 10 years for long-term financial planning. Many depositors look specifically into what returns the bank generates on its dedicated 444-day term deposit scheme and the extra benefits extended to elderly savers.
Interest Rates on the 444-Day FD Scheme Across Age Brackets
Under the special 444-day fixed deposit plan, Canara Bank has structured different interest yields based on the investor's age bracket. Customers up to 59 years of age receive an interest rate of 6.50 percent on this tenure. Meanwhile, depositors aged 60 years and above are entitled to a higher interest rate of 7.00 percent on the same 444-day term. For super senior citizens aged 80 years and above, the bank offers an even higher return of 7.10 percent on this particular deposit option.
General FD Interest Rates Offered by Canara Bank
For callable fixed deposit accounts involving amounts below 3 crore rupees, Canara Bank provides overall interest rates ranging from 3.00 percent to 7.20 percent. The institution maintains a wide spectrum of deposit tenures, allowing retail investors to pick a timeframe that aligns properly with their savings goals. The returns are calculated according to predetermined slabs established by the public sector bank.
Extra Advantages for Senior and Super Senior Citizens
Canara Bank extends special privileges to elderly account holders by offering an additional 0.50 percent interest over regular rates on fixed deposits maturing in 180 days or more to individuals aged 60 and above. Furthermore, super senior citizens aged 80 years and older receive an extra 0.10 percent over the senior citizen rate specifically on 444-day and 555-day fixed deposit accounts.
