A Savings Account is very beneficial with multiple advantages as detailed below:

The bank has cut the FD rates by 15 bps on long-term deposits maturing in 1 year to 10 years. Now FD interest rate for 7 to 45 days is 4.50%, for 46 to 179 days is 5.50%, for 180 days to 1 year is 5.80% and for 1 year to 10 years is 6.10%. Canara Bank Kamadhenu Deposit interest rates This scheme offers competitive interest rates. Added with the reinvestment plan, the overall annualized yield of the deposit tends to touch higher interest numbers, as the accrued interest is added to the principal and the amount is then compounded quarterly. It offers competitive interest rates up to 5.50% on its fixed deposits. Canara Bank FD Calculator helps you estimate how much interest you will earn on your hard-earned money parked in the FD account. Canara Bank FCNR FD Interest Rates (as on 02 Mar 2021). The FCNR FD interest rates on currency like USD, GBP, EUR,AUD, CAD, YEN. FCNR Fixed deposit depends on term deposit for example 1 year, 2 years or upto 5 years you deposit your money and your choice between different banks. Existing Canara Bank fixed deposit interest rates range from 3% to 5.30%. You can open a Canara Bank fixed deposit at any nearest branch or alternatively invest in it online or their website. Loans against FDs - You can avail a loan against your FD up to 90% of the deposit amount.

Bank

(1) Earns Interest on your Savings

This is the first and foremost benefit of opening a savings account. It starts earning interest on your money as soon as it is deposited. The interest rate is decided solely by the bank and changes from time to time. Regular interest depends upon the balance of the savings account.

Interest rate in savings account ranges from 3.5% to 7%.

(2) Provides Security of Funds

There is no risk involved in your savings account. It is considered as one of the safest investment alternatives. It even offers you the opportunity to put your money into another investment whenever the time comes.

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(3) No Lock-in Period

There is no lock-in period under savings account which means that you can withdraw your deposits anytime you need. There is no need to keep your money in this account for any specific period. You have full flexibility in withdrawal of amount from it.

(4) Offers Liquidity

You can withdraw the amount anytime 24X7 with the use of ATM card or debit card from your account during any emergency even when the bank is closed. In fact, being able to access your money when you need it, is one of the biggest benefit of having a savings account.

(5) Availability of Variety of Savings Account

Many banks offer comprehensive range of savings accounts from regular to premium suiting to your personal banking needs. There are different types of savings accounts offered by various banks that differ based on the interest rates and duration of time commitments. You can choose any of them which suits your financial objectives and requirements.

(6) Services of Customer Relation Manager

Now-a-days many of the banks engage a Customer Relation Manager (CRM) who will help not only solve your queries but also assist you in tax saving, investment, mutual fund schemes, insurance, bank procedures, etc. You need to just call your CRM and he/ she will assist you solve your problem.

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(7) Online Banking Facilities

If you maintain a savings account, you can make many transactions online also such as payment of bills, fund transfers using RTGS/ NEFT or IMPS, etc. This will save your time and efforts.

(8) Provides ATM/ Debit Card

You will be offered a debit or ATM card with a nominal charge or without any charges, as offered by your bank. With the help of this card, you can withdraw the funds, make transactions in shops, make payments of bills, etc.

Canara bank domestic term deposit rates

(9) Helps you Get Credit or Loan

The relation you maintain with the bank will help you in getting credits from the bank such as home loan, personal loan. Leovegas 20 free spins. You will also be in a position to negotiate with the banker on the interest rates.

(10) No Cap on Deposits

Canara Bank Nre Deposit Rates

There is no limit on the amount deposited and number of times it is deposited.

Recurring Deposits - Canara Bank

(11) Facility to link Loan EMIs, Mutual Fund SIPs or RD deductions

Canara Bank Deposit Rates 2021

You get a facility to link your monthly loan EMIs, Mutual Fund SIPs or RD deductions through the savings bank account.

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(12) Free Mobile App

FIXED DEPOSIT - Canara Bank

Most of the banks provide their mobile app for free. Through this app, you can get to know your account balance, check your statement, make transactions, easy transfer of money, etc.

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