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Canara Bank has received the prestigious "Banker’s Bank of the Year Award 2022" for the India segment at the Global Banking Summit, held in London, on 1st December 2022.

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BEST

Deposits :

Fixed Deposit Account

We offer attractive rate on bulk deposit particularly in USD and GBP. Contact directly on treasurylondon@canarabank.com

Eligibility:

Fixed deposit account/s can be opened by an individual, body corporate, partnership firms, trusts, associations and any other body/associate which we may consider appropriate for opening the account. Minimum Amount Individuals - GBP1000.00 or equivalent in other currencies.

Others GBP5000.00 or equivalent in other currencies.

Facility for payment of monthly (For monthly interest discount rate is applicable) & annual interest on deposits of £50,000/- and above.

The Fixed Deposit account is a non - withdrawal account.

Interest:

Interest is payable at the agreed rate to be decided between us and you at the time of placing the funds or at renewal. The indicative interest rates for various maturity dates are available on our website and through our Branches. Interest rates on various maturity dates may change and such changes will be published on our website.

Period:

Minimum period of deposit is 2 days and the maximum is 60 months.

Breaking a Fixed Term Deposit:

Normally breaking a fixed term deposit is not permitted. In exceptional circumstances, at our absolute discretion, we may let you terminate Canara Bank Fixed Term Deposit early.

Conditions:

  • The Fixed Deposit is acceptable from an individual, aged 18 years or over.
  • Minimum deposit is £1000.00 or Equivalent. The maximum amount that can be invested in this deposit is £5,000,000 or other currency equivalent.
  • The rate of interest is fixed for the entire period of the deposit.
  • Interest will be paid after deduction of income tax at rate specified by law, currently 20%. However we will be able to pay gross interest to eligible account holders subject to completion of HM Revenue and Customs form R85 available from your local branch or the HM Revenue and Customs website atwww.hmrc.gov.uk.
  • The deposit will be renewed automatically for the same period in case no instructions are received at maturity.
  • There is a facility available with us for payment of monthly & annual interest on deposits of £50000/- and above.

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