Canara Bank Logo
Canara Bank

Public Sector

vs
Indian Bank Logo
Indian Bank

Private Sector

Canara Bank vs Indian Bank Fixed Deposit Comparison 2025

Compare interest rates, features, and returns between Canara Bank (Public Sector) and Indian Bank (Private Sector). Compare the security of public sector banking with the convenience of private sector services.

Canara Bank: Min ₹1,000
Indian Bank: Min ₹1,000
Security vs Convenience
Compare Your FD Returns
1,000₹20,00,000
years
1 year10 years

Interest Rate Comparison

Interest Rates by Tenure

General rates across different tenures

Current selection: 3 years (1095 days) -Canara Bank: % |Indian Bank: %

Side-by-Side Rate Comparison

Direct comparison of general rates

Canara Bank
Indian Bank
Highlighted = Your selected tenure

Feature Comparison

Features
Canara Bank
Canara Bank
Public Sector
Indian Bank
Indian Bank
Private Sector
Minimum FD Amount
1,000
1,000
Current Interest Rate (Selected Tenure)
%
%
Premature Withdrawal Penalty
1%
1%
Official Rate Source
View Official RatesView Official Rates
Canara Bank
Public Sector Bank

Key Advantages:

Government-owned bank with strong security
Wide branch network across India
Competitive interest rates
Canara Shikhar special scheme (444 days)
Online FD booking facility
Senior citizen benefits
Indian Bank
Private Sector Bank

Key Advantages:

Government-owned public sector bank
Established in 1907, nationalized in 1969
Wide network across India and abroad
Special Ind Secure FD scheme (444 days)
Ind Green Deposit for sustainable development
Senior citizens get +0.50% additional interest
Important: Fixed Deposit Safety & Insurance Coverage

₹5 Lakh Insurance Limit

The Deposit Insurance and Credit Guarantee Corporation (DICGC) provides insurance coverage of up to ₹5 lakhs per depositor per bank. This means if you deposit more than ₹5 lakhs in a single bank, only ₹5 lakhs is guaranteed by the government.

⚠️ Recommendation:

Never deposit more than ₹5 lakhs in a single bank. If you have larger amounts, distribute them across multiple banks to ensure full insurance coverage.

Smart Distribution Strategy

For ₹10 lakhs: Split between Canara Bank (₹5L) + Indian Bank (₹5L)

For ₹15 lakhs: Add a third bank to the mix

Best of Both: Combine Canara Bank (security) with Indian Bank (convenience)

💡 Pro Tip:

You can also open FDs in different family members' names in the same bank to get additional ₹5 lakh coverage for each account holder.

Key Insights & Recommendations

Choose Canara Bank If:
  • • Minimum amount: ₹1,000
  • Public Sector banking preference
  • Government-owned bank with strong security
  • Wide branch network across India
  • Competitive interest rates
Choose Indian Bank If:
  • • Minimum amount: ₹1,000
  • Private Sector banking preference
  • Government-owned public sector bank
  • Established in 1907, nationalized in 1969
  • Wide network across India and abroad
Best Strategy:
  • • Split large amounts across both banks
  • • Keep ≤₹5L per bank for insurance
  • • Use Canara Bank for stability
  • • Use Indian Bank for convenience
  • • Review rates periodically

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