Canara Bank 555 Day Special FD Offers Up to 7.20 Percent Return for Senior Citizens

Canara Bank is providing interest rates ranging from 6.60 percent to 7.20 percent on its 555-day fixed deposit scheme across different age brackets.

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.

What this means for you
The 555-day fixed deposit tenure offers defined yields for retail savers looking to lock in guaranteed returns in a state-run bank.

• For Regular Savers: Customers up to 59 years of age secure a 6.60 percent annual rate on this specific duration. The rate applies to all callable retail deposits holding balances below 3 crore rupees.
• For Senior Citizens: Depositors aged 60 and older receive an elevated 7.10 percent interest rate for 555 days. Deposits spanning 180 days or more carry an automatic 0.50 percent premium over standard rates.
• For Super Senior Citizens: Individuals aged 80 and above earn the top tier yield of 7.20 percent on the 555-day bracket. An extra 0.10 percent margin is provided above the standard senior rate on 444-day and 555-day plans.
• Status of Current Terms: These rates remain fully operational following the adjustment executed on 17 March, 2026. Anyone opening a fresh deposit or rolling over a maturing balance receives these documented percentages.

Why this happened
Canara Bank maintains specialized tenure products like the 555-day deposit to mobilize stable retail liquidity while offering customized returns across age groups.

• Mid-Term Liquidity Strategy: Structured tenures such as 555 days allow the bank to secure stable retail deposits for an exact window. In exchange, the institution pays a differentiated return compared to standard generic terms.
• Retiree Yield Support: To assist senior savers relying on interest earnings, the bank provides an extra 0.50 percent on deposits of 180 days or more, along with another 0.10 percent for super seniors on select tenures.
• Rate Review Cycle: The existing deposit structure was finalized during the rate revision carried out on 17 March, 2026. Those terms have remained steady without significant structural modifications since then.

Questions & Answers

1. What interest rate does Canara Bank offer general customers on a 555-day FD?
General customers aged up to 59 years receive an annual interest rate of 6.60 percent on the 555-day deposit.

2. What return do senior citizens get on the 555-day deposit plan?
Senior citizens aged 60 and above receive an interest rate of 7.10 percent on this tenure.

3. How much interest is paid to super senior citizens on the 555-day scheme?
Super senior citizens aged 80 and above earn the highest rate of 7.20 percent on the 555-day plan.

4. When did Canara Bank last update its fixed deposit interest rates?
Canara Bank last revised its fixed deposit rates on 17 March, 2026.

5. Do senior citizens receive an additional premium on tenures of 180 days or more?
Yes, depositors aged 60 and above receive 0.50 percent extra interest on deposits running for 180 days or longer.

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