Canara Bank has announced revisions to its fixed deposit (FD) and savings account interest rates, effective August 8, 2025, for FDs and August 1, 2025, for savings accounts. These revisions impact both general customers and senior citizens, with changes in the interest rates offered across various tenors. The FD rates are applicable for deposits less than Rs 3 crore.

Fixed Deposit Interest Rates

Following the revision, Canara Bank's FD interest rates for general customers now range from 3.25% to 6.50% per annum. Senior citizens can earn between 3.25% and 7.00% per annum on their fixed deposits. The highest rate of 6.5% for general customers is offered on deposits with a tenure of 444 days. For senior citizens, the highest rate of 7% is offered on fixed deposits with a 444-day tenor.

Here’s a breakdown of the FD interest rates for different tenures:

• 7 days to 45 days: 4.00%
• 46 days to 90 days: 5.25%
• 91 days to 179 days: 5.50%
• 180 days to 269 days: 6.15% for general public, 6.65% for senior citizens
• 270 days to less than 1 year: 6.25% for general public, 6.75% for senior citizens
• 1 year: 6.85% for general public, 7.35% for senior citizens
• 1 year to less than 2 years: 6.85% for general public, 7.35% for senior citizens
• 2 years 1 day to less than 3 years: 7.30% for general public, 7.80% for senior citizens
• 3 years to less than 5 years: 7.40% for general public, 7.90% for senior citizens
• 5 years to 10 years: 6.70% for general public, 7.20% for senior citizens

Canara Bank also offers a tax-saving FD scheme with an interest rate of 6.70% per annum for the general public. The maximum deposit acceptable under this scheme is Rs 1.50 Lakh.

Savings Account Interest Rates

Canara Bank has also revised its savings account interest rates, effective August 1, 2025. The new savings account rates range between 2.55% and 4% depending on the savings account balance. Previously, the bank was offering rates in the range of 2.70% to 4%.

Here’s a summary of the savings account interest rates based on account balance:

• Less than ₹50 lakh: 2.90%
• ₹50 lakh to ₹5 crore: 2.90%
• ₹5 crore to ₹10 crore: 2.95%
• ₹10 crore to ₹100 crore: 3.05%
• ₹100 crore to ₹200 crore: 3.50%
• ₹200 crore to ₹300 crore: 3.10%
• ₹300 crore to ₹500 crore: 3.10%
• ₹500 crore to ₹1,000 crore: 3.40%
• ₹1,000 crore to ₹2,000 crore: 3.55%
• Above ₹2,000 crore: 4.00%

It's important to note that Canara Bank has made all savings accounts zero-balance accounts. Customers are no longer required to maintain a minimum balance to avoid penalties.

Additional Benefits for Senior Citizens

Senior citizens receive an additional interest rate benefit of 0.50% on deposits. Super senior citizens (aged 80 years and above) get a 0.60% additional interest under the Canara-444 scheme, bringing the rate to 7.60% for callable deposits and 7.70% for non-callable deposits.

Other Key Points

• Canara Bank offers loans against their Fixed Deposits, allowing investors to receive up to 90% of the deposit amount as a loan.
• The interest rate for loans against FD will be between 5.5%-7.4%.
• Canara Bank’s FD schemes offer flexible tenures ranging from 7 days to 120 months.
• Interest can be earned on a monthly, quarterly, half-yearly, or yearly basis.
• The minimum deposit for an FD is ₹1,000.

These revisions reflect Canara Bank's ongoing adjustments to its interest rate offerings, taking into account the current economic climate and regulatory landscape.