Canara Bank RD Interest Rates is determined by changes in RBI monetary policy such as repo rate, base rate, etc, the internal liquidity position of banks, economic conditions, and the level of credit demand.
Canara Bank RD (Recurring Deposit) is an account that offers a monthly investment option with a handsome return at the end of specified years with an option to extend the accounting period. It gives you a higher rate of interest than a savings bank account. Canara Bank Recurring Deposit interest rates are quite competitive and are higher than the rates on their savings deposits.
The longest permissible term offered by Canara Bank for RDs is 10 years. Generally, the longer the term of deposit, the higher is the rate of interest.
Latest Canara Bank RD Rate of Interest:
Current RD interest rates in the Canara Bank are tabulated below. Here RD rates range is given for different deposit tenure from 6 months – 10 years.
Revised Interest Rates on Retail Domestic Recurring Deposit in Canara Bank: (All figures in % per annum)
| Bank Name | Tenors | Rates For Public | Rates for Senior Citizens | As on Date |
|---|---|---|---|---|
| Canara Bank | 180 days to less than 1 Year | 4.4 | 4.9 | 2021-11-25 |
| Canara Bank | 1 year only | 5.1 | 5.6 | 2021-11-25 |
| Canara Bank | Above 1 year to less than 2 years | 5.1 | 5.6 | 2021-11-25 |
| Canara Bank | 2 years & above to less than 3 years | 5.1 | 5.6 | 2021-11-25 |
| Canara Bank | 3 years & above to less than 5 years | 5.25 | 5.75 | 2021-11-25 |
| Canara Bank | 5 years & above to 10 Years | 5.25 | 5.75 | 2021-11-25 |
You may check the updated Canara Bank Interest rate on RD at Canara Bank’s official website here.
Check the Canara Bank FD Interest rates
How is the Canara Bank’s RD rate of interest calculated?
RD interest rates of Canara Bank are determined by changes in RBI monetary policy such as repo rate, base rate, etc, the internal liquidity position of banks, economic conditions, and the level of credit demand.
The interest you earn on your deposited amount in RD depends on a lot of factors such as the invested amount, tenure for the deposit, rate of interest, and compounding frequency.
One of the best ways to calculate the interest earned on your RD is using the Canara Bank RD calculator available over the internet. It is the most hassle-free way of calculating interest.
You may Calculate the Canara Bank RD Interest rate by using: RD Calculator
You may Calculate the maturity value of Canara Bank PPF by using: Canara Bank PPF Calculator
This RD Calculator for Canara Bank RD requires some data like – Your Monthly Deposit Amount, Rate of Interest on RD by Canara Bank, Period (in No. of Months), interest Compounding Frequency. After calculation, you will get the Maturity Amount after the maturity period and Effective yield in %.
