PNB and Canara Bank Revise FD Interest Rates: Which Offers Better Returns?
PNB and Canara Bank have revised their fixed deposit (FD) interest rates as of November 2026. Let’s explore the current interest rates and determine which bank offers a better deal.
If you are planning to open a fixed deposit with Punjab National Bank (PNB) or Canara Bank, read this first. Both public sector banks have updated their FD interest rates in November, which has, in turn, altered the potential returns.
At Canara Bank, general customers can earn up to 6.75% interest, while senior citizens can receive up to 7.25%. Meanwhile, at PNB, the maximum interest rate is 6.60% for general customers and 7.10% for senior citizens. In terms of higher interest rates, Canara Bank currently holds the lead.
What are the FD interest rates at Canara Bank?
Canara Bank implemented new FD interest rates effective November 2, 2026. The bank has increased rates by up to 15 basis points on FDs for select tenures. Under the bank’s 555-day special FD scheme, general customers are now offered an interest rate of 6.75%—an increase from the previous 6.60%.
Senior citizens can earn up to 7.25% interest on this same scheme. For Canara Bank’s 444-day special FD, the interest rate is 6.65% for general customers and 7.15% for senior citizens.
What are the returns on FDs at PNB?
PNB revised its FD interest rates effective November 1, 2026. Under the bank’s 444-day special FD scheme, general customers can earn a maximum interest rate of 6.60%. For senior citizens, a maximum interest rate of 7.10% is being offered on fixed deposits (FDs) for this same tenure. Meanwhile, for a 666-day FD, general customers can earn 6.50% interest, while senior citizens can receive 7%. PNB’s FD rates apply to domestic term deposits of less than ₹3 crore.
Which bank offers better returns?
| Bank Name |
FD Tenure (Days) |
Interest Rate |
Interest Rate for Senior Citizens |
|---|---|---|---|
| Canara Bank |
555 |
6.75% |
7.25% |
| Canara Bank |
444 |
6.65% |
7.15% |
| Punjab National Bank (PNB) |
444 |
6.60% |
7.10% |
| Punjab National Bank (PNB) |
666 |
6.50% |
7.00% |
How much interest will an FD of ₹1 lakh earn?
If a general customer deposits ₹1 lakh in a 555-day FD at Canara Bank with an interest rate of 6.75%, the annual interest earned would be approximately ₹6,750. For a senior citizen, at an interest rate of 7.25%, this would amount to approximately ₹7,250 per year.
In other words, senior citizens stand to gain more from FD interest compared to other depositors.
