If you’re looking for a safe investment option with good returns and prefer to invest in a government bank, then Canara Bank’s Fixed Deposit (FD) scheme could be a great choice.
Even after the Reserve Bank of India (RBI) changed the repo rate, and many banks reduced their FD interest rates, Canara Bank is still offering attractive returns.
Who Can Open an FD in Canara Bank?
Canara Bank allows you to open an FD account for any period between 7 days and 10 years. The interest rates differ based on the age group:
General Citizens
Senior Citizens (above 60 years)
Very Senior Citizens (above 80 years)
Special 444-Day FD Scheme
One of the most attractive FD options is the 444-day scheme, which offers the highest interest rate:
General Citizens: 6.60%
Senior Citizens: 7.10%
Very Senior Citizens: 7.20%
Returns on a 2-Year FD of ₹1 Lakh
If you deposit ₹1 lakh in a 2-year FD, here’s how much you’ll receive at maturity:
General Citizen
Interest Rate: 6.50%
Maturity Amount: ₹1,13,764
(Interest Earned: ₹13,764)
Senior Citizen
Interest Rate: 7.00%
Maturity Amount: ₹1,14,888
(Interest Earned: ₹14,888)
Safe and Reliable Option
Since Canara Bank is a government-owned public sector bank, your money is considered fully safe.
This FD scheme is especially suitable for retired individuals and salaried employees looking for steady and secure returns.
