North India Statesman
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New Delhi. Recently, after the repo rate cuts made by RBI, most of the banks have reduced their fixed deposit (FD) interest rates. In such a situation, investors are looking for an option where their money is not only safe but they also get good returns. If you are also one of these investors, then the FD scheme of public sector Canara Bank can be a great option for you.
This government bank is still offering attractive interest rates on its FD. You will get guaranteed returns by investing here for 5 years. ₹39,750 You can get interest up to Rs.
Know the FD interest rates of Canara Bank
Canara Bank offers its customers FDs ranging from 7 days to 10 years. From 3.25% to 7.10% Is offering interest up to Rs. Let us know about some of its special schemes:
- 444 days special FD: On this special scheme, banks provide loans to ordinary citizens. 6.50%to senior citizens 7.00%and to super senior citizens 7.10% Is giving excellent interest.
- 5 Year Tax Saver FD: If you want to invest for 5 years, then the bank is giving good returns on this also.
- Ordinary Citizen: 6.25%
- Senior Citizen: 6.75%
How much return will you get on an investment of ₹ 1 lakh?
Let us now understand that if you make an FD of Rs 1 lakh for 5 years in this bank, then how much amount you will get on maturity.
- For general citizens:
- investment amount: ₹1,00,000
- Interest Rate: 6.25%
- Total Interest: ₹36,354
- Total amount on maturity: ₹1,36,354
- For Senior Citizens:
- investment amount: ₹1,00,000
- Interest Rate: 6.75%
- Total Interest: ₹39,750
- Total amount on maturity: ₹1,39,750
Since Canara Bank is a government bank, your investment here is completely safe and you get guaranteed returns, making it a great option away from market fluctuations.
