Canara Bank FD Scheme : The public sector Canara Bank is offering excellent returns to its customers on Fixed Deposit (FD) schemes. You can open an FD account in Canara Bank for as short as 7 days, with a maximum tenure of up to 10 years. This government bank is currently offering interest rates ranging from 3.25% to 7.00% on FDs. Here, we’ll tell you about a special FD scheme by Canara Bank where you can earn up to ₹45,201 as fixed interest on a deposit of ₹2 lakh.
Canara Bank Offers Up to 6.85% Interest on 3-Year FD
Canara Bank is offering the highest interest rates under its 444-day special FD scheme — 6.50% for general citizens, 7.00% for senior citizens, and 7.10% for super senior citizens.
For a 3-year FD, the interest rates are as follows:
- 6.25% for general citizens
- 6.75% for senior citizens
-
6.85% for super senior citizens
It’s worth noting that under an FD scheme, you receive a fixed amount of interest after the maturity period, and this amount remains unaffected by market fluctuations.
Interest of ₹45,201 on ₹2 Lakh FD for 3 Years
If you are a regular citizen and deposit ₹2 lakh in a 3-year FD at Canara Bank, you will receive a maturity amount of ₹2,42,682, which includes ₹42,682 as fixed interest.
If you are a senior citizen, the maturity amount will be ₹2,44,479, which includes ₹44,479 as fixed interest.
And if you are a super senior citizen, your maturity amount will be ₹2,45,201, including ₹45,201 as fixed interest.
Disclaimer:
This article is intended for informational purposes only. Before making any investment or taking any financial risks, please consult your financial advisor. India TV shall not be held responsible for any financial loss or risk arising from investment decisions.
