Canara Bank is one of India’s major government banks, known for its wide branch network and large customer base across the country.
Along with regular banking services, the bank is also attracting attention for its fixed deposit (FD) schemes that offer steady returns.
If you prefer safe investments with guaranteed returns, Canara Bank’s FD plans may be worth understanding.
FD Interest Rates: From Short-Term to Long-Term
Canara Bank offers fixed deposit options starting from just 7 days and going up to 10 years.
The interest rates vary depending on the duration of the deposit.
For very short-term deposits of around 7 days, the bank offers about 3.00% interest.
For mid-range tenures like 46 to 90 days, the rate increases to around 4.00%.
If you choose longer durations such as 180 to 269 days, the interest can go up to 5.25%–5.75%.
For long-term FDs of 5 to 10 years, the interest rate can reach up to 6.75%.
Senior citizens get additional benefits, with interest rates going as high as 7.50%.
What You Earn on a ₹1 Lakh FD
The returns on FD depend on both the interest rate and the tenure you choose.
For example, if a regular customer invests ₹1,00,000 in a 10-year FD, the maturity amount becomes approximately ₹1,85,924.
This includes ₹85,924 as interest earnings.
Senior citizens get even higher returns.
The same ₹1,00,000 investment over 10 years can grow to about ₹1,95,300, which includes ₹95,300 as interest.
Why These FD Schemes Attract Investors
FDs are popular because they offer fixed and safe returns without market risk.
Investors know exactly how much they will receive at maturity, making it a stable savings option.
With attractive long-term interest rates and additional benefits for senior citizens, Canara Bank FDs continue to be a preferred choice for risk-free investment.
For those looking for predictable returns and capital safety, these FD schemes can be a reliable option to consider.