Eligibility Criteria to Start a RD Account with Canara Bank

Consumers should first determine whether they are eligible to invest in Canara Bank. The following are the prerequisites for investing in a Canara Bank RD,

  1. Individuals
  2. Hindu Undivided Family (HUF)
  3. Sole Proprietorships and Joint Ventures
  4. Private Limited Companies or Public Limited Companies
  5. One-Person Company (OPC)
  6. Trust, society, and association
  7. Partnership Firms, including Limited Liability Partnerships (LLP)
  8. Any government establishment

Canara Bank RD Interest Rates 2024

Canara Bank is an emerging Indian banking and financial services company and it is headquartered in Bengaluru, Karnataka. Canara Bank has offices in London, New York, and Dubai as well. Canara Bank was nationalized in the year 1969. Canara Bank offers a wide range of bundles of banking products and services to its customers these banking products also include Recurring Deposit offerings as well. Canara Bank provides different RD options to their customers, the basic aim is to provide a safe option that can be utilized to save money for a fixed tenure and give interest earnings to the customers. There is a wide range of benefits provided by opening a RD account with Canara Bank as they provide an easy loan facility, auto-renewal of RD, and many other things.

OwnershipPrivate Sector Bank
CEOK. Satyanarayana Raju
Headquartered InBengaluru
Founded In1 July 1906
Customer Support Number1800 1030

Table of Content

  • Canara Bank RD Interest Rates 2024
  • Features of Canara Bank Recurring Deposit
  • How to Open a RD Account in Canara Bank?
  • How to Calculate RD Interest Rates in Canara Bank?
  • Eligibility Criteria to Start a RD Account with Canara Bank
  • Documents Required for Starting an RD Account
  • Types of Canara Bank RD Accounts
  • Canara Bank RD Premature Withdrawal Rules
  • Frequently Asked Questions (FAQs)

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Canara Bank RD Interest Rates 2024

Tenure Rate of Interest for General CitizensĀ (Below 60 Years of Age) Rate of Interest for Senior CitizensĀ ( Above 60 Years of Age) 3 Months to 6 Months 5.25% 5.25% 6 Months to 9 Months 5.50% 5.50% 9 Months to 1 Year 6.50% 7.00% 1 Year to 2 Years 6.90% 7.40% 2 Years to 3 Years 6.85% 7.35% 3 Years to 5 Years 6.80% 7.30% 5 Years to 10 Years 6.70% 7.20%...

Features of Canara Bank Recurring Deposit

1. Interest Rates: Canara Bank has attractive interest rates on Recurring Deposits. The charges may depend on the amount deposited, the period of the investment, and other conditions....

How to Open a RD Account in Canara Bank?

If you want to open a Recurring Deposit (RD) account with HDFC Bank, here are some general guidelines that you can follow,...

How to Calculate RD Interest Rates in Canara Bank?

[Tex]Interest~Earned = P \times \frac{(n \times (n+1))}{2} \times r \times \frac{1}{12}[/Tex]...

Eligibility Criteria to Start a RD Account with Canara Bank

Consumers should first determine whether they are eligible to invest in Canara Bank. The following are the prerequisites for investing in a Canara Bank RD,...

Documents Required for Starting an RD Account

The following documents are required to open a RD at Canara Bank,...

Types of Canara Bank RD Accounts

Here are some common types of Canara RD accounts:...

Canara Bank RD Premature Withdrawal Rules

Canara Bank allows its customer to prematurely withdraw their recurring deposits. However, these premature withdrawals are subjected to a penalty of 1% for prematurely withdrawing the amount from Canara Bankā€™s RD account. The interest rate in such scenarios is lower than the actual rate of a mature RD account....

Frequently Asked Questions (FAQs)

1. What is a Recurring Deposit (RD)?...