Canara Bank FD Calculator
Enter your details to calculate
₹
%
yrs
Total value of investment
₹1,38,042
Invested amount
₹1,00,000
Estimated returns
₹38,042
Domestic Term Deposits for General Public (Below Rs. 2 crore)
| Tenors | Interest Rates for General Public |
| 7 days to 45 days | 2.90% |
| 46 days to 90 days | 4.00% |
| 91 days to 179 days | 4.05% |
| 180 days to 269 days | 4.65% |
| 270 days – Below 1 year | 4.65% |
| 333 days | 5.10% |
| 1 year | 5.50% |
| Above 1 year to below 2 years | 5.55% |
| 666 days | 6.00% |
| 2 years and above to below 3 years | 5.60% |
| 3 years and above to below 5 years | 5.75% |
| 5 years and above to 10 years | 5.75% |
Note: The FD interest rates are effective as of 8 August 2022
Domestic Term Deposits for Senior Citizens Customers (Below Rs. 2 crore)
| Tenors | Interest Rates for Senior Citizens |
| 7 days to 45 days | 2.90% |
| 46 days to 90 days | 4.00% |
| 91 days to 179 days | 4.05% |
| 180 days to 269 days | 5.15% |
| 270 days – Below 1 year | 5.15% |
| 333 days | 5.60% |
| 1 year | 6.00% |
| Above 1 year to below 2 years | 6.05% |
| 666 days | 6.50% |
| 2 years and above to below 3 years | 6.10% |
| 3 years and above to below 5 years | 6.25% |
| 5 years and above to 10 years | 6.25% |
Note: The FD interest rates are effective as of 8 August 2022
Canara Bank Tax Savings FD Rates for Less than Rs.2 crore
| Tenors | Interest Rates for General Public |
| 5 years | 5.75% |
Canara Bank NRI Fixed Deposit Rates
Canara Bank NRE FD Rates for Less than Rs.2 crore
| Tenure | Interest Rates (% p.a.) of Deposits less than Rs 2 crore | Interest Rates (% p.a.) of Deposits from Rs 2 crore to less than Rs 10 crore |
| 1 year | 5.50% | 6 |
| Above 1 year to below 2 years | 6.00% | 6 |
| 666 days | 6.00% | NA |
| 2 years and above to below 3 years | 5.60% | 6 |
| 3 years and above to below 5 years | 5.75% | 6 |
| 5 years and above to 10 years | 5.75% | 3.4 |
Note: The FD interest rates are effective as of 8 August 2022
Canara Bank NRO FD Rates
| Maturity Period | Interest Rate for General Citizens (p.a.) |
| 7 days to 45 days | 2.90% |
| 46 days to 90 days | 4.00% |
| 91 days to 179 days | 4.05% |
| 180 days to 269 days | 4.65% |
| 270 days – Below 1 year | 4.65% |
| 333 days | 5.10% |
| 1 year | 5.50% |
| Above 1 year to below 2 years | 5.55% |
| 666 days | 6.00% |
| 2 years and above to below 3 years | 5.60% |
| 3 years and above to below 5 years | 5.75% |
| 5 years and above to 10 years | 5.75% |
Note: The FD interest rates are effective as of 7 September 2022
Canara Bank FCNR (B) Interest Rates
| Tenure | USD | GBP | EUR | CAD | AUD |
| 1 year to less than 2 years | 3.8 | 2.4 | 0.06 | 2.11 | 2.05 |
| 2 years to less than 3 years | 3.5 | 2.76 | 0.11 | 3.16 | 2.55 |
| 3 years to less than 4 years | 3.35 | 2.88 | 0.11 | 3.26 | 2.75 |
| 4 years to less than 5 years | 3.35 | 2.89 | 0.2 | 3.31 | 2.75 |
| 5 years | 3.35 | 2.86 | 0.25 | 3.31 | 2.75 |
Note: The FD interest rates are effective as of 7 September 2022
Canara Bank RFC FD Rates
| Tenure | USD | EUR | CAD | AUD | |
| 1 month to less than 3 months | 2.45 | 1.76 | NIL | 2 | 1.56 |
| 3 months to less than 6 months | 2.52 | 2.24 | NIL | 2 | 2.03 |
| 6 months to less than 1 year | 3.43 | 2.89 | NIL | 2 | 2.03 |
| 1 year to less than 2 years | 3.8 | 2.4 | 0.06 | 2.11 | 2.05 |
| 2 years to less than 3 years | 3.5 | 2.76 | 0.11 | 3.16 | 2.55 |
| 3 years only | 3.35 | 2.88 | 0.11 | 3.26 | 2.75 |
Note: The FD interest rates are effective as of 7 September 2022
Canara Bank FD Calculator
Fixed deposits are one of the most trusted modes of investment in India. This is because fixed deposits offer stable returns and are risk-free as they do not get impacted by market conditions. You can consider investing in Canara Bank fixed deposit since it offers attractive interest rates.
An investment term of 666 days in Canara Bank can earn you an interest rate of up to 7.00% on your fixed deposit for investments less than ₹2 crore. However, an additional 0.50% interest rate is also applicable to senior citizens. You can easily determine the maturity with an online FD calculator. Here’s more.
Canara Bank Fixed Deposit (FD) Calculator
Canara Bank is one of the largest nationalised banks in India, offering attractive interest rates to investors on their fixed deposits. You can start an FD account by investing only ₹1000 initially. Besides, you can choose favourable tenure between 15 days (7-14 days for a single deposit of up to ₹5 lakh) and 10 years. However, Canara Bank fixed deposit interest rate varies depending on your chosen tenure.
For example, when you select a tenure between 6 months and less than 1 year, you are eligible for a 5.50% interest rate. On the other hand, when you invest your fixed deposit for one year, the interest rate rises to 6.75%. These rates are applicable for general citizens investing up to ₹2 crore.
Considering this difference in interest rates for different investment terms, it is difficult to calculate FD interest manually. So, you can use an online FD calculator to make your calculation error-free and easy.
Let’s look at how the Canara Bank fixed deposit calculators work!
How Does the Canara Bank FD Calculator Work?
Canara Bank FD calculator is a feasible online tool for investors to compute their fixed deposit interest in no time. Here are the easy steps one can follow to calculate their FD interest rates using this online tool:
1. Enter the amount you want to invest in your Canara Bank FD on the ‘Total Investment’ box
2. You can fill the ‘Number of years’ box with desired investment tenure
3. Finally, enter the interest rate according to your chosen tenure or drag the purple line until it reaches the proper percentage.
4. You can find the result on right side of this page displaying an estimated return and total value earned.
By changing the numbers in each box, you can compute interest amounts for different tenures and deposit amounts.
There are two mathematical formulas to calculate Canara Bank interest rate for fixed deposit: simple interest and compound interest.
Formula for simple interest goes as follows:
M= P+ (PXRXT/100)
In the above formula, “M” represents the maturity amount
“P” denotes the amount you invested
“R” implies the rate of interest
“T” stands for the investment term in years
However, formula for compound interest is different. Check it out below:
A = P (1 + r/n) ^ n*t
Here, “A” denotes the total amount earned on FD maturity
“P” stands for your investment amount or principal
“r” denotes the annual interest rate
“n” represents the number of times the interest rate is compounded
“t” implies the tenure for investment
The Canara Bank fixed deposit calculator is designed to deliver the correct output against the proper input you provide. So, always enter the right investment amount, tenure and interest rate to calculate the actual interest amount.
Benefits of An Online Canara Bank FD Calculator
Canara Bank FD calculator features a user-friendly interface to benefit you in the following ways:
- Flexible: Canara Bank FD calculators help determine the maturity amount before you invest your money. By changing the investment tenure, the investment amount and interest rates, you can determine a suitable FD scheme based on your financial objective. You can change the figures flexibly and determine your investment returns beforehand. So, Canara Bank fixed deposit calculator helps you plan your investment goals conveniently.
- Easy to use: This online tool is extremely easy to use. So, you can compute your fixed deposit returns conveniently by entering the proper credentials. The best part is you don’t need to pay anything to calculate your FD returns through an online calculator.
- Timesaving: It saves time as you don’t need to calculate using a complicated mathematical formula manually. All you need to do is enter the investment amount and set the investment term and interest rates accordingly. Canara Bank FD calculator will produce the result in no time.
- Accurate: The most significant benefit of this online tool is that it produces an error-free result. You will get accurate results each time.
Before investing in Canara Bank fixed deposits you can choose to use Upstox’s Canara Bank fixed deposit calculator. It helps plan your investment goals without any hassles of complex calculations. Besides, you don’t need to depend on any broker or agent to understand which FD scheme would be suitable for you. This online tool helps you calculate and determine the best investment term for your FDs.
Frequently Asked Questions
What is the minimum investment for FDs under Canara Bank?
You need to start your FD investment in Canara Bank with just ₹1000.
In how many years has FD doubled in the Canara Bank?
To calculate the years it takes to double your FD in Canara Bank, you need to follow the rule of 72. Dividing 72 by the interest rate, you get the exact years required to double the FD amount. For instance, for a tenure of 1 year, the interest rate on your Canara Bank FD is 6.75%. Dividing 72 by 6.75, we receive 10.66. So, it will take around 10.66 years to double your FD returns.
What is the highest interest rate on Canara Bank FD?
The highest interest rate for Canara Bank FD is 7.00% for general citizens and 7.50% for senior citizens for investments up to ₹2 crore.
Can new customers open an FD online? If not, how can they do so?
If you are a new customer, you need to submit the KYC documents and produce other necessary documents to open an FD online.
What is the lock-in period for Tax Saving Scheme?
The lock-in period for Canara Bank’s tax-saving FD is 5 years from the investment date.
Are there any special rates for senior citizens?
Yes, senior citizens are eligible for an additional 0.50% interest on the basic FD rates.
Do we have a premature withdrawal facility on Canara Bank FD?
You can opt for a premature withdrawal of FD from Canara Bank against a specific penalty.
What is the penalty for early withdrawal in Canara Bank FD?
Canara Bank charges a penalty of 1.00% for premature withdrawal of fixed deposits less than ₹2 crore.
