Canara Bank Fixed Deposit Interest Rates (as On 02 Mar 2021 ..
Canara Bank Fixed Deposit For Nri

Money is the thing for which we all work day and night, it the basic necessity for us to survive in this world. We all have money with us and we all try to increase the amount of money which we have with us by investing it. And when it comes to invest our money somewhere there are number of place where you can invest and get your money almost doubled but the thing is the risk level which is very high these days. If you want to invest your money in Stock marker, you can really make good amount of money but the risk level is very high in Stock market if you don’t invest in on the right stocks.

But Fixed deposits is the only way where your money will grow with time with risk level which is almost equal to zero. So fixed deposits are very good for us to increase the money we have with us. But if you want to break Fixed deposit in Canara Bank which you have made there and searching online for an article online in which you will find information regarding how you can make premature withdrawal of your fixed deposit. Then you have landed on the right website. Because in this guide you will find information about this.

And Canara Bank is one among those banks which offers the service of fixed deposit to the people who have a bank account with them. The actual concept of a fixed deposit is that you will earn more interest rates when we compare that to a savings bank account. KDR means Kamadhenu Deposit and FDR is normal Fixed Deposit. In KDR, the interest is not credited or paid to the customer at agreed intervals during the life of the deposit. Canara Bank facilitates its customers with a bunch of products to bank upon. This includes its fixed deposit schemes that are backed with high-yielding FD rates. Here we shall talk about these fixed deposit schemes in detail along with documents required to open these schemes. So fixed deposits are very good for us to increase the money we have with us. But if you want to break Fixed deposit in Canara Bank which you have made there and searching online for an article online in which you will find information regarding how you can make premature withdrawal of your fixed deposit. Then you have landed on the right website.

Contents

What is Premature Withdrawal of Fixed Deposit?

But before that I would like to tell you about what is Premature withdrawal actually is? So here is the answer. It is nothing but when you have made a Fixed Deposit for some tenure and you want to withdraw the amount before your fixed deposit gets matured. For example you have made a FD of 1 Lakh INR for a tenure of 12 months (1 Year) and now you want to withdraw your money which which is 1 Lakh INR before 1 year period. This process of withdrawal of money before the actual tenure of FD is called as Premature withdrawal of Fixed Deposit.

How to Break Fixed Deposit in Canara Bank?

So now lets get started with this guide and check out the procedure which you need to follow to break fixed deposit in Canara Bank. The process is very easy and you can do it with few steps, I have mentioned them below.

The first thing you need to do is you have to write a application to your branch manager regarding the Premature withdrawal of your FD. You can refer the letter sample which I have mentioned below.

To:

Branch Manager,

Canara Bank,

Camp, Belgaum

Subject: Premature Withdrawal of Fixed Deposit.

Chumba casino daily bonus. Respected Sir,

I am Subhash Sharma and I had opened a FD in your branch on 01/06/2016 whose tenure was of 1 year but I want to withdraw the money now. My FD Number is 0000-0000-0000 I request you to break my FD and deposit the money to my Savings Bank account Number XXXX-XXXX-XXXX-XXXX.

I have attached the my PAN Card photocopy as my Identity proof with this application.

Canara Bank Fixed Deposit Interest Rates (as On 02 Mar 2021 ..

Regards,

Subhash Sharma

As soon as you complete writing this application to your Canara Bank branch manager now you need to take a photocopy of your PAN Card and make your signature on the photocopy and attach it with the application form.
Now at last you need to visit your home branch where you had opened your FD and submit your form. And you are done with it.

Note: When you break your FD before it tenure is completed, a penalty will be applied to you. You can ask for the penalty amount which is applied on you at your home branch. Some banks don’t apply penalty and some apply it.

Final Words.

So this was all about how you can break fixed deposit in Canara bank. I hope you are clear with all the steps which I have mentioned in this guide. If you have any kind of doubts you can comment below.

As you know that a Fixed Deposit (FD) is an investment option offered by banks that gives you higher rate of interest than a regular savings account. By investing in an FD, you can achieve your financial goals comfortably due to higher returns offered by it.

Canara Bank FD provides an option to deposit lump sum amount for a specific period, ranging from 7 days to 10 years. You can choose any of the tenures offered by Canara Bank FD according to your convenience and financial objective. As soon as you select the tenure and deposit the amount in Canara Bank_ FD, it will start earning an interest based on the tenure of the deposit. Customer is allowed to deposit lump sum money into a fixed deposit only once into his FD account at the time of opening the account with the bank and afterwards he cannot deposit additional money in the same FD account.

You can also get tax benefits under section 80C of the Income Tax Act on an amount between Rs. 100 to 1.5 lakh by investing in Canara Bank FD for a tenure of 5 years or more.

Following table provides you Canara Bank FD Rates of various tenors. Also, given below is the facility/ option, through which you can calculate the interest rate and the maturity value of your Canara Bank FD for different tenures by clicking on the 'calculate' button provided in the table.

Canara Bank Fixed Deposit Interest Rates (as on 06 Mar 2021)

Maturity Period	Interest Rate (p.a.)	Calculate Interest Rate
30 Days	3.00%
45 Days	3.00%
60 Days	4.00%
90 Days	4.00%
120 Days	4.05%
6 Months	4.50%
9 Months	4.50%
12 Months	5.40%
2 Years	5.35%
3 Years	5.30%
4 Years	5.30%
5 Years	5.30%
10 Years	5.30%

Features & Benefits: Canara Bank Fixed Deposit

Competitive interest rates are offered with flexible FD tenures to suit your investment plan.
FD account can be opened online or by visiting your nearest Canara Bank branch.
No cap on the Maximum Amount of FD
FD Tenures: 7 days to 10 years
Different interest payout options such as monthly, quarterly, etc.
Loan/ Overdraft against FD facility is available upto 85% of the FD amount.
Easy and fast liquidity options are available.
Nomination facility is available.
Tax benefit of amount up to Rs 1,50,000, through tax saving term deposit scheme
Part withdrawal facility and auto-renewal facilities are also available
Senior citizens can enjoy higher interest rate as compared to regular citizens
NRE, NRO and FCNR deposit facility is offered by the bank

Who is Eligible for Canara Bank Fixed Deposit

Panda jock slots. Any of the following persons is eligible to invest in fixed deposits (FD):