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Canara Bank
Canara Bank

Canara Bank

Canara Bank is among one of the largest public sector banks in India. The bank has 6639 branches across the country and has offices all over the world. It also operates 10600 ATMs all across India.

History of Canara Bank

  • Canara Bank was established by Ammembal Subba Rao Pai by the name Canara Hindu Permanent Fund at Mangalore on 1st July 1906.
  • Its name was changed to Canara Bank Limited in the year 1910.
  • Canara Bank grew in size and credits by acquiring some banks namely Bank of Kerala in 1961, Seasia Midland Bank, G. Raghumathmul Bank and Trivandrum Permanent Bank in 1961.
  • In the year 1963 Canara Bank acquired four banks named Sree Poornathrayeesa Vilasam Bank, Thrippunithura, Arnad Bank, Tiruchirapalli, Cochin Commercial Bank, Cochin, and Pandyan Bank, Madurai.
  • Canara Bank was nationalized by Government of India on 19th July 1969.
  • Canara Bank began its international operations in the year 1976 when it opened a branch in London. It has a presence in Hong Kong, Shanghai, Leicester, Bahrain, Sharjah, Moscow and New York.

Canara Bank Services

Canara Bank provides a range of services to its customers. The range of services provided by the bank can be covered under different niche categories as listed below:

Personal Banking

The bank is known to provide the following services under the category of personal banking.

Diverse kinds of loans

Life insurance services

Loan against property

Premium current account

Savings account services

Mutual Fund products

Corporate Banking

To provide professional services to corporate clients, the bank has come up with Corporate Banking segment where it provides diverse services to corporate clients. These services can be listed as:

  • Merchant banking Services
  • Cash management Services
  • Loans and Advances

NRI Banking Services

  • Canara Bank also provides a host of services for its NRI clients. These services are as:
  • Remit money scheme
  • Rupee drawing arrangements
  • SWIFT facility for a smooth transfer of money
  • Western Union remittance scheme for money transfer

SME Credit

  • To provide imminent benefits to farmers and small scale industrialists, Canara Bank has come up with its SME Credit range of services. The facilities which are provided in this category are inclusive of:
  • SME Marketing Desk
  • Consultancy services for agriculturists
  • Setting up of Agri-Business Marketing Desk
  • Entrepreneurship development schemes for women
  • Social Banking Services

Diverse range of Loans

  • Canara Bank is known for providing a diverse range of loans for its customers. The specific types of loans that the bank provides to its customers include:
  • Personal Loan
  • Home Loan
  • Consumer Loan
  • Vehicle Loan
  • Agriculture Loan

Internet Banking

  • The bank also promotes its customers to opt for Internet Banking so that the banking experience becomes better and refined.
  • Various bank services as managing the account and transferring money can be availed through this mode of banking from the comfort of home.

Canara Bank Interest Rates

The rate of interest offered by Canara Bank varies for saving and Fixed Deposit account. The bank offers an interest of 4.00% on savings bank account.

Fixed Deposit Interest Rates:

The fixed deposit interest rates offered by Canara Bank varies according to the time span for which deposits have been made. The rates also vary for Senior Citizens who are offered a higher rate of interest as compared to other customers.

Tenure of Deposits

Fixed Deposit Rates

Senior Citizen Fixed Deposit Rates

7-14 days



15-30 days



31-45 days



46-60 days



61-90 days



91-120 days



121-179 days



180-364 days



270-364 days



1 year



1 year 1 day to 1 year 364 days



2 years to 2 years 364 days



3 years to 10 years



5 years to 10 years



  • The bank also provides a nomination facility to the family members who can then avail the final amount. Loan facility is also available on up to 90% of the Fixed Deposit amount. Canara Bank offers competitive interest rates against all its Fixed Deposit schemes which make this service unique indeed.
  • The savings account in Canara Bank also offers some key advantages to the customers. These include:
  • Issuance of ATM/ Debit card from the bank for minimizing the waiting period.
  • Activation of mobile and net banking facility for smooth banking experience.
  • Instant credit facility for outstation cheques of up to Rs 10,000.
  • The facility of Joint Account.
  • Due help provided for the opening of minor/senior citizen account.
  • Nomination Facility is available.
  • Two demand drafts free of charge of minimum balance amount maintained for accounts having Rs 10,000 or more.
  • Interest calculated on the daily balance maintained and interest paid in February and August.

Phone Number 1800 - 425 - 0018 / 080- 22221581/582/0490/0491/1788/ 1789/ 1790/1984/1985/1986
Fax Canara Bank
Email csscoagra@canarabank.com
Web Site https://www.canarabank.in/
Disclaimer: The Details shown may be different from actual. Please confirm on the bank site before process.

Loan Type Interest Rate Minimum Age (in yrs.) Minimum Income (in Rs.)
Home Loan 08.75% - 10.00% NA Regular Source of Income should be there
Business Loan NA Not applicable Not applicable
Personal Loan 10.5%-15% No age criteria provided Income Criteria Not Available
Car Loan 11% Minimum and maximum age Not Available Income Criteria Not Available
Loan against credit card 14.25 - 16.25% Age criteria not provided Income criteria not provided
Education Loan 10.25%-12.5% Co-Applicants and Students Age will be considered Co-Applicant Income will be considered
Disclaimer: The Details shown may be different from actual. Please confirm on the bank site before process.