Canara Bank FD Scheme : Canara Bank Launches 12-month FD Scheme, Offering bumper Interest and Returns.

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Canara Bank FD Scheme: A Safe Way to Grow Your Savings

Many people work hard to earn money, but they also want a safe place to invest it and earn steady returns. Fixed Deposits (FDs) are among the most trusted options for secure investment. If you want both safety and good returns, Canara Bank’s 12-month FD scheme is a smart choice.

Why Choose the Canara Bank 12-Month FD?

Canara Bank offers attractive interest rates on its one-year FD scheme, going up to 7.35%. This makes it a strong option compared to many other banks. With a short-term lock-in and stable returns, it is ideal for new as well as experienced investors.

How Much Will You Receive if You Invest ₹2,50,000?

If you deposit ₹2,50,000 in Canara Bank’s 12-month FD, your return will depend on whether you are a general customer or a senior citizen. The bank offers different interest rates for each, giving senior citizens slightly higher earnings.

Benefits of Investing in Canara Bank FD

One of the biggest advantages of choosing Canara Bank is safety. As a government-supervised bank, it offers secure investment options. Your money stays protected, making it ideal for low-risk investors.

Another benefit is the wide range of FD tenures—from 7 days to 10 years—giving you flexibility based on your financial goals.

Tax Benefits on Long-Term FDs

If you prefer investing in an FD for more than 5 years, you can also get tax benefits under Section 80C of the Income Tax Act. This can help reduce your taxable income while keeping your money safe.

Details of Canara Bank’s 12-Month FD Rates

For a one-year (12-month) FD, Canara Bank offers:

  • 6.85% interest for general customers
  • 7.35% interest for senior citizens

These rates help your savings grow steadily without market risk. Let’s look at the maturity amounts.

Maturity Amount for a ₹2,50,000 FD

If you invest ₹2,50,000 in the 12-month FD scheme:

  • General customers will receive ₹2,67,570 after 1 year.
  • Senior citizens will receive ₹2,68,888 after 1 year.

This shows how even short-term FDs can help you earn a decent return while keeping your money completely safe.

Why This Scheme Is a Good Option

The 12-month FD is perfect if you want a simple investment with predictable returns. There is no market risk, no complicated process and no fluctuation in earnings. Whether you are saving for an emergency fund or short-term goals, it fits well.

Final Thoughts

Canara Bank’s 12-month FD scheme offers safety, reliability and good interest rates. With clear returns and secure investment conditions, it is ideal for anyone looking to grow their savings without risk.

Note: This article is for informational purposes only. Always consult a financial advisor before making investment decisions. For exact interest rates and terms, visit your nearest Canara Bank branch.