FD (Fixed Deposit) Rates
- For under ₹3 crore: 3.5%–6.6% p.a. (general public), 4.0%–7.1% p.a. (senior citizens)
- Top rate of 7.1% for senior citizens on ~444 day FDs, 6.6% for others.
Note: These revised rates came into effect from June 1–9, 2025, aligning with the RBI cut .
Loans
RLLR & MCLR Updates
- Repo-Linked Lending Rate (RLLR) reduced from 8.75% to 8.25% effective June 12, 2025.
- Corresponding MCLR cuts across tenures (home, retail loans) also implemented in early June.
Home Loan
- Floating rate range: 8.15%–11.0% p.a.; fixed rate range: 9.50%–11.75% p.a.
- Effective lending (with RLLR 8.25% + CRP) yields 7.40–10.25% overall, averaging ~8.26%.
- EMI relief is expected as RLLR reduction filters through.
Personal Loan
- General personal loan rates: 10.70%–16.15% p.a., depending on scheme and credit grade.
- Special salaried/BSNL employee rates can start as low as 9.25% under salary-linked schemes .
- Key benchmark: base RLLR 8.25% + credit risk premium → ~13–15% for standard unsecured loans.
Summary Table
| Product | Recent Rate (post cut) | Effective From |
|---|---|---|
| FD | 3.5%–6.6% (Gen) / 4.0%–7.1% (Senior) | June 1–9, 2025 |
| RLLR | Lowered to 8.25% | June 12, 2025 |
| Home Loan | 8.15%–11.75% (floating/fixed) | June 2025 |
| Loan Range | 7.40%–10.25% (overall) | w.e.f. June 12 |
| Personal Loan | 10.70%–16.15%; salary-based ~9.25% | June 2025 |
What This Means for You
- FD: Expect slightly lower interest than before; senior citizens still enjoy top yields ~7.1%.
- Home Loans: Monthly EMIs for RLLR-linked loans should drop thanks to repo rate transmission via RLLR/MCLR.
- Personal Loans: Rates remain driven by credit score and salary tie-up; base RLLR cut offers marginal relief, more so for salaried customers.
Conclusion: Canara Bank has passed on RBI’s repo rate cut to both borrowers and depositors:
- FDs now yield up to 6.6% (general) and 7.1% (senior).
- RLLR down to 8.25% cuts home and retail loan costs.
- Home loans floating from ~8.15%, effective rate ~7–10% depending on credit-grade.
- Personal loans range widely—best rates ~9.25% (salary-linked), general up to ~16%.
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