What is Non Callable Deposit?
According to the Canara Bank website, “Non-callable deposits are deposits where premature withdrawal is not permitted.”
Interest rates for senior citizens
According to the Canara Bank website, ‘0.50 per cent additional interest for senior citizens is available for deposits of less than Rs 2 crore and tenor of 180 days or more (except NRO/NRE and CGA deposits).’
If a domestic term deposit matures and is not repaid, the unclaimed amount held by the bank earns interest at the lower of the rate of interest on the maturing fixed deposit or the rate applicable to savings accounts.
|Tenure of FD||For General Citizen (%)||For seniors (%)|
|7 to 45 days||3.25||3.25|
|46 to 90 days||4.5||4.5|
|91 to 179 days||4.5||4.5|
|180 to 269 days||5.5||6|
|270 days to 1 year||5.5||6|
|2 years to less than 3 years||6.8||7.3|
|3 years to less than 5 years||6.5||7|
|5 years to 10 years||6.5||7|