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Trusted by 1L+ Indians

Want to Achieve any of the below Goals upto 80% faster?

Car Side View

Dream Home

Car Side View

Dream Wedding

Car Side View

Dream Car

Motorcycle Side View

Retirement

auto rikshaw

1st Crore

Car Side View

Dream Home

Car Side View

Dream Wedding

Car Side View

Dream Car

Motorcycle Side View

Retirement

auto rikshaw

1st Crore

Trusted by 3 Crore+ Indians

Want to Achieve any of the below
Goals upto 80% faster?

Car Side View

Dream Home

Car Side View

Dream Wedding

Car Side View

Dream Car

Motorcycle Side View

Retirement

auto rikshaw

1st Crore

Trusted by 3 Crore+ Indians

Want to Achieve any of the below
Goals upto 80% faster?

Car Side View

Dream Home

Car Side View

Dream Wedding

Car Side View

Dream Car

Motorcycle Side View

Retirement

auto rikshaw

1st Crore

Trusted by 3 Crore+ Indians

Want to Achieve any of the below Goals upto 80% faster?

Car Side View

Dream Home

Car Side View

Dream Wedding

Car Side View

Dream Car

Motorcycle Side View

Retirement

auto rikshaw

1st Crore

Trusted by 3 Crore+ Indians

Want to Achieve any of the below Goals upto 80% faster?

Car Side View

Dream Home

Car Side View

Dream Wedding

Car Side View

Dream Car

Motorcycle Side View

Retirement

auto rikshaw

1st Crore

Canara FD Interest Rates - Explore Latest Fixed Deposit Rates

Canara FD Interest Rates - Explore Latest Fixed Deposit Rates

May 10, 2023

5 Minutes

Unlocking Secure Savings: Canara Bank Fixed Deposit (FD) Explained

Discover the secure path to grow your savings with Canara Bank Fixed Deposit (FD), a preferred investment option provided by one of India's largest Nationalised Banks. Established in 1906, Canara Bank offers a diverse range of fixed deposit choices, making it a go-to option for individuals seeking stability and growth.

Key Features of Canara Bank FD:

  1. Interest Rates:

    Canara Bank FD presents enticing interest rates, ranging from 5.50% to 6.70%, spanning tenures of 3 months to 10 years.

  2. Minimum Deposit:

    Opening an FD account requires a modest ₹1000, making it accessible for a broad spectrum of investors.

  3. Senior Citizen Benefits:

    Senior citizens enjoy an extra 0.50% p.a. interest rate, enhancing their returns.

  4. Loan Facility:

    Canara Bank extends a loan or overdraft facility of up to 90% against the deposit amount.

Specialized FD Schemes:

  1. Canara Khazana Deposit:

    Offers unique interest rates to cater to specific financial goals.

  2. Canara Shikhar Deposit:

    Tailored FD scheme with attractive interest rates to amplify returns.

  3. Canara Tax Saver Scheme:

    Provides tax benefits under Section 80C, though it entails a lock-in period of 5 years.

  4. Canara Bank Kamadhenu Deposit:

    A reinvestment scheme with flexible tenure and convenient withdrawal options.

  5. Canara Bank Ashraya Deposit Scheme:

    Exclusive scheme for senior citizens with cumulative and non-cumulative options.

Interest Rates Based on Tenure:

  • Short-term Deposits (7 days to 12 months): 3.25% to 6.50% p.a.

  • Medium-term Deposits (1 year to < 5 years): Around 6.25% to 6.50% p.a.

  • Long-term Deposits (5 years to 10 years): Fixed at 6.50% p.a.

Opening a Canara Bank FD:

Convenience is paramount with Canara Bank FD. Whether through internet banking, mobile app, or a visit to the nearest branch, the process is hassle-free. The minimum deposit is a mere ₹1000.

Taxation and Other Considerations:

  • The interest income is taxable based on the applicable slab rates of income tax.

  • TDS of 10% is applicable if the income exceeds ₹40,000 per year for regular citizens and ₹50,000 per year for senior citizens.

Additional Benefits:

  • Loans Against FDs: Investors can avail up to 90% of the deposit amount.

  • Premature Closure: Allowed with a penalty of 1% on the deposited amount.

Conclusion:

Canara Bank FD - A Trustworthy Investment

In conclusion, Canara Bank Fixed Deposit emerges as a reliable investment avenue, offering not just security but also growth through attractive interest rates and a variety of schemes. By opting for Canara Bank FD, individuals can confidently safeguard and nurture their savings for a predetermined duration. Open the door to secure and fruitful financial planning with Canara Bank Fixed Deposit.

Unlocking Secure Savings: Canara Bank Fixed Deposit (FD) Explained

Discover the secure path to grow your savings with Canara Bank Fixed Deposit (FD), a preferred investment option provided by one of India's largest Nationalised Banks. Established in 1906, Canara Bank offers a diverse range of fixed deposit choices, making it a go-to option for individuals seeking stability and growth.

Key Features of Canara Bank FD:

  1. Interest Rates:

    Canara Bank FD presents enticing interest rates, ranging from 5.50% to 6.70%, spanning tenures of 3 months to 10 years.

  2. Minimum Deposit:

    Opening an FD account requires a modest ₹1000, making it accessible for a broad spectrum of investors.

  3. Senior Citizen Benefits:

    Senior citizens enjoy an extra 0.50% p.a. interest rate, enhancing their returns.

  4. Loan Facility:

    Canara Bank extends a loan or overdraft facility of up to 90% against the deposit amount.

Specialized FD Schemes:

  1. Canara Khazana Deposit:

    Offers unique interest rates to cater to specific financial goals.

  2. Canara Shikhar Deposit:

    Tailored FD scheme with attractive interest rates to amplify returns.

  3. Canara Tax Saver Scheme:

    Provides tax benefits under Section 80C, though it entails a lock-in period of 5 years.

  4. Canara Bank Kamadhenu Deposit:

    A reinvestment scheme with flexible tenure and convenient withdrawal options.

  5. Canara Bank Ashraya Deposit Scheme:

    Exclusive scheme for senior citizens with cumulative and non-cumulative options.

Interest Rates Based on Tenure:

  • Short-term Deposits (7 days to 12 months): 3.25% to 6.50% p.a.

  • Medium-term Deposits (1 year to < 5 years): Around 6.25% to 6.50% p.a.

  • Long-term Deposits (5 years to 10 years): Fixed at 6.50% p.a.

Opening a Canara Bank FD:

Convenience is paramount with Canara Bank FD. Whether through internet banking, mobile app, or a visit to the nearest branch, the process is hassle-free. The minimum deposit is a mere ₹1000.

Taxation and Other Considerations:

  • The interest income is taxable based on the applicable slab rates of income tax.

  • TDS of 10% is applicable if the income exceeds ₹40,000 per year for regular citizens and ₹50,000 per year for senior citizens.

Additional Benefits:

  • Loans Against FDs: Investors can avail up to 90% of the deposit amount.

  • Premature Closure: Allowed with a penalty of 1% on the deposited amount.

Conclusion:

Canara Bank FD - A Trustworthy Investment

In conclusion, Canara Bank Fixed Deposit emerges as a reliable investment avenue, offering not just security but also growth through attractive interest rates and a variety of schemes. By opting for Canara Bank FD, individuals can confidently safeguard and nurture their savings for a predetermined duration. Open the door to secure and fruitful financial planning with Canara Bank Fixed Deposit.

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