Normally people want to make an investment in the safest and most secure option. Fixed deposit schemes run by various banks are often considered the consumer favorites. FDs in SBI or the post office were heavily discussed before. But do you know that Canara Bank is offering an excellent return on their FD scheme?
Canara Bank FD Scheme details
Public sector Canara Bank is offering excellent returns to its customers through its FD scheme. FDs can be made with Canara Bank for a minimum of 7 days. FD accounts can be opened with Canara Bank for a maximum period of 10 years. This government bank offers interest rates ranging from 3.25% to 7.00% on fixed deposits. Here, we will tell you about one such FD scheme of Canara Bank, in which a deposit of Rs 2 lakh can earn a fixed interest of up to Rs 45,201.
Interest Rates for Senior and Normal Citizens
Canara Bank is offering the highest interest rate of 6.50 percent for general citizens, 7.00 percent for senior citizens, and 7.10 percent for super senior citizens on its 444-day special FD scheme. On a 3-year FD at Canara Bank, general citizens are getting 6.25 percent, senior citizens 6.75 percent, and super senior citizens 6.85 percent. It should be noted that under an FD scheme, you receive a fixed amount of interest after a fixed period, and there is no fluctuation in it.
If you are a normal citizen and deposit Rs 2 lakh in a 3-year FD with Canara Bank, you will receive a total of Rs 2,42,682 on maturity, which includes a fixed interest of Rs 42,682. If you are a senior citizen and deposit Rs 2 lakh in a 3-year FD with Canara Bank, you will receive a total of Rs 2,44,479 on maturity, which includes a fixed interest of Rs 44,479. And if you are a super senior citizen and deposit Rs 2 lakh in a 3-year FD with Canara Bank, you will receive a total of Rs 2,45,201 on maturity, which includes a fixed interest of Rs 45,201.
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