Canara Bank, a major public sector lender among the 12 state-run banks currently operating across the country, offers attractive returns on its term deposits. For callable fixed deposits under 3 crore rupees, the bank provides interest rates ranging between 3.00 percent and 7.20 percent depending on the tenure. Investors looking for predictable returns with government bank security frequently evaluate these specific maturity brackets.
Interest Rates Available on the 555 Day Deposit Scheme
The state-owned lender runs a dedicated 555-day special deposit scheme designed to provide enhanced earnings across different demographic categories. Under this scheme, annual interest rates range from 6.60 percent to 7.20 percent based on the age of the account holder at the time of opening the deposit.
General depositors aged up to 59 years receive an interest rate of 6.60 percent on the 555-day tenure. For senior citizens who are 60 years of age or older, the bank raises the yield to 7.10 percent for the exact same period. Super senior citizens, defined as individuals aged 80 years and above, earn the maximum return of 7.20 percent on this 555-day fixed deposit.
Special Additional Slabs for Senior and Super Senior Depositors
To deliver better financial support to retirees, Canara Bank maintains premium interest slabs on medium and longer tenures. Depositors aged 60 years and above qualify for an additional 0.50 percent interest on any deposit running for 180 days or longer compared to regular customers.
Furthermore, super senior citizens aged 80 years and above receive an extra 0.10 percent on top of the senior citizen rate on two specific tenures: 444 days and 555 days. Consequently, depositors in the 80-plus age group secure an overall premium of 0.60 percent above the standard interest rates offered to general depositors on these selected timelines.
Current Deposit Rates Effective Since March 2026
The existing interest rate framework reflects adjustments made earlier in the year. Canara Bank last revised its fixed deposit rates on 17 March, 2026. No major revisions have been introduced to the retail deposit structure since that update, meaning the specified interest percentages continue to apply across all branch networks.
