Canara Bank Saving Schemes: The Reserve Bank of India has reduced the repo rate by 1.25 percent this year. Due to the cut in repo rate, on one hand the loan interest rates have come down, on the other hand the FD interest rates have also come down. After reducing the repo rate, all the banks have revised the interest rates of their respective FD schemes. Public sector Canara Bank is now offering interest ranging from 3.00 percent to 6.75 percent on FD scheme. Let us tell you that FD account can be opened in Canara Bank for a period ranging from 7 days to 10 years. Here we will tell you about such a scheme of Canara Bank, in which if you deposit only Rs 1 lakh, you can get a total fixed interest of Rs 20,983 on maturity.
Canara Bank is giving the highest interest on FD scheme of 555 days
Canara Bank is offering the highest interest rate of 6.15 percent to general citizens, 6.65 percent to senior citizens and 6.75 percent to very senior citizens on 555 days FD scheme. This government bank is giving 5.90 percent interest to general citizens and 6.40 percent interest to senior citizens on 3 year FD scheme. Let us tell you that with FD scheme, depositors get fixed amount of principal as well as interest after a fixed period. The most important thing about FD scheme is that there is no variation in the interest received in it.
On depositing ₹1,00,000 you will get fixed interest of ₹20,983
If you are a normal citizen and deposit Rs 1 lakh in a 3-year FD in Canara Bank, then you will get a total of Rs 1,19,209 on maturity, which includes fixed interest of Rs 19,209. If you are a senior citizen and deposit Rs 1 lakh in a 3-year FD in Canara Bank, you will get a total of Rs 1,20,983 on maturity, which includes fixed interest of Rs 20,983. Canara Bank is a government bank, which works under the control of the government. Your money deposited in a government bank is completely safe.
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