Canara Bank Kamadhenu Deposit
The Kamadhenu Deposit is a reinvestment plan from Canara Bank that provides a safe and flexible deposit option to customers. The scheme also offers preferential interest rates so that you get the most out of your deposits.
Eligibility Criteria for Canara Bank Kamadhenu Deposit
Any individual, either singly or jointly with a maximum of 4 members, guardian on behalf of minor, partnership, HUF, companies, and other such institutions are eligible to open the Kamadhenu Deposit with Canara Bank.
Features of Canara Bank Kamadhenu Deposit
Account Type | Single/Joint |
Amount | Min - Rs.1,000 Max - No limit |
Rate of Interest | Min - 3.00% Max - 6.50% |
Period/Tenure | Min - 5 Months Max - 120 months |
TDS | TDS applicable as per regulations from the Income Tax department. |
Loan against Canara Bank Kamadhenu Deposit | Loans available up to 90% of the value of the deposit |
Nomination | Nomination facility available |
Auto Renewal | Yes, at the same rate of interest as on the date of maturity, unless otherwise stated |
Note: While the Kamdhenu Deposit allows tenures from 5 months to 10 years, interest rates are currently available only from 180 days. Senior citizens also receive additional interest only for deposits with a tenure of at least 180 days. The interest on the deposit is compounded on quarterly basis.
Canara Bank Kamadhenu Deposit Interest Rates (Less than Rs.3 crore)
Maturity Period | Interest Rate for General Citizens (p.a.) | Interest Rate for Senior Citizens (p.a.) |
7 days - 45 days | 3.00% | 3.00% |
46 days - 90 days | 4.00% | 4.00% |
91 days - 179 days | 4.25% | 4.25% |
180 days - 269 days | 5.25% | 5.75% |
270 days - less than 1 year | 5.50% | 6.00% |
1 year and above - 1 year 3 months (expect 444 days) | 6.25% | 6.75% |
444 days | 6.45% | 6.95% |
555 days | 6.50% | 7.00% |
Above 1 year 3 months - less than 2 years (expect 555 days) | 6.25% | 6.75% |
2 years and above - less than 3 years | 6.25% | 6.75% |
3 years and above - less than 5 years | 6.25% | 6.75% |
5 years and above - 10 years | 6.25% | 6.75% |
Notes:
- The above-mentioned rates are effective from 5 January 2026.
- The interest on the deposit is compounded on quarterly basis.
- Kamdhenu Deposit rates are applicable only for single deposits of Rs,5 lakh and above. All the deposits below Rs.5 lakh are governed by the regular term deposit rates.
- An additional 0.50% interest for senior citizens is applicable only for deposits with a tenure of 180 days and above.
FAQs on Canara Bank Kamadhenu Deposit
- Criteria for Premature Withdrawal of Canara Kamadhenu Deposit
Premature withdrawal is allowed on all deposits. For deposits less than Rs.3 crore, a penalty of 1% is applicable as reduced interest rate according to the agreed upon rates. For deposits of Rs.3 crore and above, the penalty is waived on premature withdrawal. Also, interest will not be paid out on any premature withdrawal done before completion of 7th day of the scheme.
- What is the part withdrawal facility?
The part withdrawal facility allows you to withdraw a part of the overall deposit in multiples of Rs.1,000 while the remaining amount continues to earn interest at contracted rates.
- How does the auto-renewal facility work?
If you have opted for the auto-renewal feature, your deposit will start a new cycle for the same tenure at maturity, while the interest rate will be as per the prevailing rates at the time.
- What happens if I have not opted for auto renewal?
In case you haven't opted for auto renewal, your deposit will be treated as overdue deposit and will start earning interest at savings account rates.
- What documents do I need to submit to avail this scheme?
The following needs to be submitted at the time of application for this scheme:
- Copy of PAN card
- Identity and address proof as per KYC norms
- Photograph of depositors
- Related documents as applicable for non-individual accounts.
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