Canara Bank Domestic Term Deposit FD Scheme

Canara Bank Domestic Term Deposit FD Scheme

Canara Bank offers attractive and competitive fixed deposit schemes for its customers. A fixed deposit is a type of savings account where you deposit a fixed sum of money for a set period. The interest rate on a fixed deposit is usually higher than on a regular savings account, making it a good way to grow your money.

Canara Bank offers one of India’s highest interest rates on fixed deposits. You can choose from a tenure of 7 days to 10 years and get attractive interest rates. The tenure of the deposit determines the interest rate on a Canara Bank Fixed Deposit. The interest rates primarily range from 3.25% p.a. to 7.71% p.a.

Key Features and Benefits

Looking for a safe and secure investment option? Canara Bank Fixed Deposits could be a good option for you. Here are some key features and benefits of this scheme:

• Canara Bank FDs offer interest rates starting from 3.25% per annum. This is higher than the interest rates offered on regular savings accounts.
• Canara Bank Fixed Deposit come with a wide range of tenure options – you can choose a tenure that suits your investment needs.
• With Canara Bank fixed deposit scheme, you can avail of income tax deductions under section 80C of the Income Tax Act.
• Canara Bank FDs come with a facility for premature withdrawal if you need to access your funds before the maturity date.
• Canara Bank offers special interest rates for senior citizens on its fixed deposit scheme.
• Canara Bank offers part withdrawal of deposits in units of INR 1,000
• You can opt for an auto-renewal facility with Canara Bank FD.

Eligibility Criteria

You can open a Canara Bank Fixed Deposit account to earn interest on your savings. This account offers you a higher interest rate than a savings account, and you can choose the tenure of your deposit. The eligibility criteria for a Canara Bank Fixed Deposit account are as follows:

• Individuals or joint accounts (with a maximum of 4 members)
• Minors (Guardians on behalf of them)
• HUF, partnership firm, company, or association

Documents Required

• Canara Bank FD application form with a passport-size photograph of the applicant
• KYC documents:: Aadhaar Card, PAN Card, Voter ID, or Driving License
• Form 60/ 61 (in case of no PAN Card)
• Documents applicable for HUF, partnership firm, company, or association. (if applicable)

How To Apply For Canara Bank Fixed Deposit?

You can visit your nearest branch or apply online for a Canara Bank Fixed Deposit.

Via Internet Banking

You can apply for a Canara Bank Fixed Deposit through internet banking by following these simple steps:

Step 1: Log in to your internet banking account on the official website of Canara Bank.

Step 2:  You can choose the type of deposit account you want to open on the Term Deposit page by clicking the ‘New Account link.

Step 3: You must provide all the required information, including the nominee’s name, payment details, and maturity instructions.

Step 4: Click on ‘Open Deposit’ to verify the details.

Step 5: Authenticate the transaction by clicking ‘Confirm’. On the screen, you will see a confirmation message for account registration.

Via Visiting the Bank Branch

One must visit a Canara Bank branch to open an offline FD account. Obtain all the documents and submit them along with the FD application form. A Canara Bank representative will issue a receipt upon successfully processing the application.

How Can you Download the Canara Bank FD Application Form?

You can download the Canara Bank Fixed Deposit application form by visiting the official website of Canara Bank. You are simply required to page and click on ‘Quick Access,’ here, you will find the FD application form.