Bank fixed deposits continue to be a trusted choice for investors who want safety and predictable returns.
people prefer FDs because they are low-risk and offer assured income.
However, returns can vary from bank to bank, so checking interest rates before investing is important.
If you are looking for a stable long-term FD, Canara Bank, one of India’s leading public sector banks, is offering an option that can generate a profit of up to ₹4.43 lakh.
Here’s a simple breakdown of how it works.
Canara Bank FD Interest Rates Explained
Canara Bank provides fixed deposits across multiple tenures, all offering the same interest rate for general customers.
For FDs with tenures of 1 year, 2 years, 3 years, and 5 years, the interest rate is 5.90 percent.
The bank also offers a long-term 10-year FD.
general citizens, the interest rate remains 5.90 percent.
Senior citizens, however, get a higher rate of 6.40 percent on the same tenure.
How Much Will You Earn in a 10-Year FD?
If a general customer invests ₹5 lakh in a 10-year FD with Canara Bank, the maturity amount will be around ₹8.98 lakh.
This means a total profit of ₹3.98 lakh over the investment period.
For senior citizens, the returns are even better.
An investment of ₹5 lakh will grow to approximately ₹9.43 lakh after 10 years.
This results in a direct profit of ₹4.43 lakh.
Should You Consider This FD?
This FD is suitable for investors who want long-term stability and guaranteed returns without market risk
Senior citizens, in particular, can benefit from the higher interest rate offered by Canara Bank.
Before investing, always compare FD rates across banks and consider your financial goals and tax implications.
