Canara Bank FD Scheme : Today, we are going to tell you about a bank fixed deposit (FD) scheme where you can invest ₹1 lakh and earn a fixed interest of up to ₹36,000. We are talking about the fixed deposit scheme of the government-owned Canara Bank. Let’s take a closer look.
Bank fixed deposits have always been very popular among investors. Most people prefer to invest their money in FDs because of the safety of funds and the assurance of fixed returns. If you are also an FD investor and rely on bank fixed deposits for investment, it is important to know the interest rates offered by different banks. This helps you choose an FD scheme that offers higher returns.
Today, we are discussing a bank FD where you can invest ₹1 lakh and earn a fixed return of up to ₹36,000. This FD scheme is offered by the government bank Canara Bank. Let’s understand the details.
Canara Bank Fixed Deposit
Canara Bank offers attractive interest rates on its fixed deposit schemes. Customers can invest in FDs for durations ranging from 7 days to 10 years. The interest rates offered by the bank on FDs are as follows:
- 1 year – 6.25%
- 2 years – 6.25%
- 3 years – 6.25%
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5 years – 6.25%
Returns on ₹1 Lakh Investment in Canara Bank FD Scheme
- If you invest ₹1 lakh in a 1-year FD, you will receive ₹1,06,398 at maturity, earning a profit of ₹6,398.
- If you invest ₹1 lakh in a 2-year FD, the maturity amount will be ₹1,13,205, giving you a profit of ₹13,205.
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If you invest ₹1 lakh in a 3-year FD, you will receive ₹1,20,448 at maturity, resulting in a profit of ₹20,448.
Fixed Return of ₹36,000 from Canara Bank FD
If you invest ₹1 lakh in a 5-year FD with Canara Bank at an interest rate of 6.25%, you will receive a total of ₹1,36,354 at maturity. This means you earn a fixed profit of ₹36,354 on your investment.
