Canara Bank Tax Saver Scheme
Canara Bank’s five-year Tax Saver Scheme under its Fixed Deposit/Kamadhenu streams, with ₹100 minimum, ₹1.5 lakh maximum, multiple payout modes and a death exception to the normal no-preclosure rule.
Structured from first-party bank/issuer evidence. This page does not claim personal hands-on product use unless that experience is explicitly stated.
Recorded source review date, not a claim that the product changed that day.
Target recheck: October 10, 2026.
Rate, tenure, liquidity and booking conditions belong together.
A headline deposit rate is incomplete without the dated schedule, tenure band, customer category and premature-withdrawal rules.
Fixed deposit evidence stays in its own structure.
Specialist fields below remain source-scoped. Missing values stay missing; one banking product type is never used to manufacture facts for another.
Rate anchors you can compare without reading a headline maximum.
Only tenure points directly represented by the reviewed bank schedule are stored. We do not interpolate a rate between published bands.
| Tenure | General | Eligible senior |
|---|---|---|
| 5 years | 6.25% | 6.75% |
Rate basis: Canara Tax Saver is a five-year FD/Kamadhenu scheme; current domestic callable sub-₹3Cr schedule effective 17 March 2026. · Effective/reference date: March 17, 2026
Dated deposit-rate snapshots.
Effective-date evidence is preserved instead of silently replacing an older rate when a bank reprices new deposits.
Canara Tax Saver is a five-year FD/Kamadhenu scheme; current domestic callable sub-₹3Cr schedule effective 17 March 2026.
Fees, balances, benefits, limits and eligibility without a single-score shortcut.
These six fields are the cross-product layer. The specialist section above controls whenever a type-specific field is more precise.
Who this record appears designed for—and what can break the fit.
Best-fit wording summarizes the published proposition. It is not individualized financial advice or an approval prediction.
Eligible public-sector-bank depositors who want a low minimum tax-saving FD and value a clearly documented death exception and payout-mode choices.
- The deduction is part of the aggregate ₹1.5 lakh Section 123 / Schedule XV framework and is not available under the new concessional tax regime under Section 202; individual tax circumstances can differ.
- From 1 April 2026, current tax-year references should use Section 123 read with Schedule XV of the Income-tax Act, 2025; some bank product copy still uses the legacy Section 80C label.
- The death exception is not ordinary liquidity and should not be presented as a normal premature-withdrawal option.
- Interest is taxable/TDS-applicable even though the qualifying principal can support a deduction.
Compare this product only where the pair is deliberately maintained.
Both sides keep independent review dates, exact conditions and first-party evidence. No winner score is generated.
Complete evidence set for this maintained profile.
Each source remains independent. A product page, tariff, KFS/MITC, rate schedule or programme document is not silently treated as interchangeable evidence.
When the bank changes a term after the recorded review, the current agreement, tariff, KFS/MITC or effective rate table controls.
This page organizes dated public evidence; it does not guarantee eligibility, availability, approval, service quality or future pricing.