Can Fin Homes public deposit rates, Canara Bank

Can Fin Homes  Public Deposit Scheme

Can fin Homes was promoted by Canara Bank in the year 1987. Canara Bank is a Nationalised Bank listed in 1991. 

Fixed Deposit

Deposits are Fixed-term deposits repayable after an agreed period fixed at the time of making the deposit. The interest on the deposit is payable periodically i.e. monthly/quarterly/half-yearly/yearly as per the request of the depositor.

Terms:

• The minimum amount accepted by us under the Fixed Deposit Scheme is Rs.10,00,000/- for payment of monthly interest
• The minimum amount accepted by us under Fixed Deposit Scheme is Rs.2,00,000/- for payment of quarterly, half-yearly and yearly interest.
• The minimum period of deposits is 12 months and the maximum period is 60 months.
• Bulk deposits are those deposits with amounts from Rs.1,00,00,001/- (Rupees One Crore and one only).
• Additional interest of 0.50% for senior citizens, aged 60 years and above paid for deposits up to 
• Rs.1,00,00,000/- (Rupees One crore only). Interalia, the said additional interest is not available for a bulk deposit.
• Additional interest of 1% paid on deposits of our staff members (who are on rolls or retired).
• For more info, visit:  https://www.canfinhomes.com/fixed-deposite.aspx

 Cumulative Deposit

A lump sum amount, accepted for a fixed period, at an agreed rate of interest where interest is paid along with 
principal amount on maturity of the deposit, is called a cumulative deposit. The interest accrued is added back 
to the principal amount on quarterly intervals. In other words, the interest earned gets compounded on a quarterly basis.

The salient points of our deposit schemes w.e.f 03/02/2020 are as under:

• Bulk deposits are those deposits of Rs.1,00,00,001/- and above.
• The above interest rates are applicable on all deposit products (as indicated above), accepted/renewed on or after 03/02/2020.
• Additional interest of 0.50% for senior citizens (aged 60 years and above) will continue to be available only for deposits up to 
• Rs.1 crore on all deposits. Interalia, the said additional interest is not available for bulk deposits.
• For Fixed deposits, the minimum amount eligible for acceptance/renewal shall be  Rs.10,00,000/- for payment of monthly interest. 
• Minimum deposit amount: Rs. 2 lakh for payment of quarterly, half-yearly or yearly interest (not eligible for monthly interest).
• For Cumulative deposits, the minimum amount for acceptance/renewal is Rs.20,000/- (interest compounded quarterly and payable on maturity).
• Minimum Period of deposits is 12 months and the maximum is 60 months.

Terms:

• The minimum amount eligible for acceptance/renewal is Rs.20,000/- (Rupees Twenty Thousand only).
• Interest is paid only on maturity along with the principal amount.
• The minimum period of deposits is 12 months and the maximum period is 60 months.
• Bulk deposits are those deposits with amounts from Rs.1,00,00,001/-.
• Additional interest of 0.50% for senior citizens, aged 60 years and above paid for deposits up to 
• Rs.1 crore. Interalia, the said additional interest is not available for the bulk deposit.
• Additional interest of 1% paid on deposits of our staff members (who are on rolls or retired).

source: https://www.canfinhomes.com/fixed-deposite.aspx