Canara

Special Rate for Senior Citizen & Super Senior Citizen

• Additional interest rate of 0.50% will be paid for domestic term deposits (Except for NRO, NRE and Capital Gains Deposit scheme) of less than Rs. 3 Cr over and above the rate offered for General public.
• Additional interest rate of 0.60% will be paid for domestic term deposits (Except for NRO, NRE and Capital Gains Deposit scheme) of less than Rs. 3 Cr over and above the rate offered for General public.

The system will automatically enable preferential ROI of 0.50% to all existing eligible Domestic Term Deposits and RD Deposits from the date of Customer attaining Senior Citizen status

In case of death of the depositor before the date of maturity, the deposit may be continued with the contracted interest rate only if there is no change to the other contracted terms.

Penalty for Premature closure / Part withdrawal

A penalty of 1.00 % shall be levied for premature closure.

Premature closure / part withdrawal is not available for Non – Callable Deposits.

• For premature closure/part withdrawal of Domestic/NRO term deposits, the Bank imposes a penalty of 1.00%. Such prematurely closed/part withdrawn deposits will earn interest at 1.00% below the rate as applicable for the relevant amount slab as ruling on the date of deposit and as applicable for the period run OR 1.00% below the rate at which the deposit has been accepted, whichever is lower.
• No interest will be payable on term deposits prematurely closed/prematurely extended before completion of 7th day from account opening.

Auto Renewal of Deposit

In case of renewals specifically opted by customers, renewal will be under General product of same tenure with the prevailing rate of interest.

Overdue Deposit

If a Domestic term Deposit matures and proceeds are unpaid, the amount left unclaimed with the bank shall attract rate of interest as applicable to saving account or the contracted rate of interest on the matured Term Deposit, whichever is lower.