Canara Bank RD Calculator

Canara Bank Recurring Deposits Explained

Canara Bank offers recurring deposits from six months to ten years, and following the amalgamation of Syndicate Bank into it on 1 April 2020 it operates one of the largest public sector branch networks in India, with particular depth across Karnataka and the southern states. Its recurring range is unusual for a public sector bank in offering a genuinely flexible instalment option alongside the conventional fixed one.

Canara Bank RD Schemes You Can Open

Canara Bank runs two distinct recurring structures, and picking the wrong one is the most common avoidable mistake:

• •Canara Regular Recurring Deposit — The conventional product: one fixed instalment on a fixed date for the full tenure, with a default fee for each month missed.
• •Canara Dhanvarsha Flexi Recurring Deposit — A flexible variant allowing the monthly contribution to vary within a defined band, so an irregular income does not push the account into default.
• •Canara Tax Saver and senior citizen deposits — Lock-in deposit products offered alongside the recurring range, plus the rate premium Canara extends to resident depositors aged 60 and above.

Missed Instalments and Early Closure at Canara Bank

Canara Bank RD interest rates are set per tenure slab and fixed for the life of the account, so a default costs you a fee rather than a repricing. On the regular RD, Canara Bank charges a default fee for each instalment missed, calculated per hundred rupees per month of delay, and a prolonged default allows the bank to treat the account as discontinued. Dhanvarsha materially reduces that exposure by letting the instalment vary instead of failing. Premature closure on either is settled at the rate applicable to the period the money actually stayed, less the applicable penalty.

How to Check Canara Bank RD Interest Rates

RD rates change with RBI policy and each bank's own treasury decisions, so no figure is quoted on this page. Take the rate applicable to your tenure from the Canara ai1 app, Canara Bank net banking, or a branch, then enter it above alongside your monthly instalment to see the exact maturity value.

What Is Specific to a Canara Bank RD

• •Dhanvarsha is the reason to choose Canara specifically: a flexible instalment band is rare among public sector banks, which usually offer only the rigid structure.
• •Former Syndicate Bank branches now operate under Canara IFSC codes, so verify the code before funding a deposit by external transfer.
• •The ai1 app consolidates what were previously several separate Canara applications, and handles the full deposit lifecycle.
• •A loan against the accumulated recurring balance is available after a qualifying period, which avoids breaking the deposit for a short-term need.

Enter the rate Canara Bank quotes for your tenure into the calculator above to see the exact maturity amount and the year-by-year accrual of interest.

To compare this against another lender, or against a lump-sum deposit, use the master RD calculator or the fixed deposit calculator.