Canara Bank Offers Fixed Interest of ₹39,750 on ₹1 Lakh Deposit
Canara Bank FD: ₹1 Lakh Deposit Can Earn ₹39,750 in Interest: Public sector Canara Bank is offering attractive interest rates on fixed deposits. Customers can open an FD for tenures ranging from 7 days to 10 years, with interest rates between 3% and 7.10%.
Canara Bank offers its highest rate on the special 555-day FD scheme. The bank pays 6.50% interest to general citizens, 7% to senior citizens, and 7.10% to super senior citizens. On the 5-year FD, the bank offers 6.25% to general citizens and 6.75% to senior citizens.
If a general citizen deposits ₹1 lakh, the maturity amount will be ₹1,36,354, including ₹36,354 as interest. A senior citizen investing ₹1 lakh will get ₹1,39,750 on maturity, which includes ₹39,750 as interest.
Banks reduced FD interest rates after the RBI cut the repo rate by 1.25% last year. Despite this, Canara Bank continues to offer competitive returns on its FD schemes.
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