How to Apply for Canara Ashraya Deposit Scheme
Canara Bank offers an extensive variety of term store accounts with an alluring rate of premium and an assortment of advantages. Canara Ashraya store conspire is a settled store plot planned uniquely for senior nationals. The record can be opened in a solitary name or joint names subject to qualification criteria of the record. The settled store account accompanies advantages, for example, credit office, the appealing rate of intrigue, low least store sum.
Eligibility criteria for Canara Ashraya Deposit Scheme
Listed below are the eligibility criteria for Canara Ashraya Deposit Scheme.
- Individuals who have completed the age of 60 can open the account on a single or joint basis
- In case of joint account, the account can be opened with individuals below the age of 60 subject to the condition that the depositor is over the age of 60.
- The depositor should be able to deposit the minimum amount stated by the bank.
Features of Canara Ashraya Deposit Scheme
Listed below are the features of Canara Ashraya Deposit scheme
| Account Type | Single and joint |
| Amount | Minimum: Rs.1000 p.a.Maximum: There is no limit on the maximum amount |
| Rate of Interest | Minimum: 4.50%Maximum: 8.25% |
| Period | Minimum: 15 daysMaximum: 120 months or 10 years |
| Loan against Bank of IndiaStar Sunidhi Tax-Saving Deposit Scheme | The scheme offers loan facility up to 90% of the deposited amount |
| Periodicity of interest payment | Monthly(discounted), quarterly, half yearly |
| Nomination (if any) | Available |
| TDS on interest | Applicable |
Canara Ashraya Deposit Scheme interest rates
Given below is the interest rate currently applicable on Canara Ashraya Deposit Scheme.
| Period | Rate of interest offered |
| 7 days to 14 days | 4.50% |
| 15 days to 30 days | 5.00% |
| 31 days to 45 days | 6.00% |
| 46 days to 90 days | 6.75% |
| 91 days to 120 days | 7.00% |
| 121 days to 179 days | 7.25% |
| 180 days to 269 days | 8.00% |
| 270 days to less than 1 year | 8.25% |
| 1 Year & above to less than 2 Yrs | 8.25% |
| 2 years & above to less than 3 years | 8.25% |
| 3 years & above to less than 5 years | 8.25% |
| 5 years & above to less than 8 years | 8.00% |
| 8 years & above to 10 years | 8.00% |
The mentioned rates are applicable only as of 2/12/2015. The interest rates are subject to change from time to time without any prior notification and the customers are advised to contact the bank for updated rates.
