Canara Bank FD Scheme : In today’s time, the cost of living is rising day by day. Amid this growing inflation, people are becoming more conscious about saving and investing a portion of their income. Many prefer to invest 10–20% of their earnings in government funds or bank fixed deposit (FD) schemes to secure their future.
If you are also planning to invest a part of your income, then a bank fixed deposit scheme can be a great and safe option for you. Your money remains secure, and you also earn attractive interest. Let’s learn about Canara Bank’s new 555-day Fixed Deposit Scheme, which offers excellent interest rates for both regular and senior citizens.
Canara Bank FD Scheme: 555-Day High-Return Fixed Deposit
Recently, Canara Bank launched a new 555-day Fixed Deposit Scheme. Under this scheme, investors can earn a high rate of interest on their deposits.
- For regular citizens, the bank is offering an attractive 7.10% interest rate.
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For senior citizens, the interest rate is even higher at 7.60%.
This scheme provides a safe investment option along with great returns, making it suitable for both short-term and medium-term investors.
Example: Returns on ₹2 Lakh Investment
Let’s understand how much return an investor can expect by investing ₹2,00,000 in Canara Bank’s 555-day FD scheme.
For Regular Citizens
- Investment Amount : ₹2,00,000
- Interest Rate : 7.10%
- Tenure : 555 Days
- Maturity Amount : ₹2,19,370
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Total Profit : ₹19,370
For Senior Citizens
- Investment Amount : ₹2,00,000
- Interest Rate: 7.60%
- Tenure: 555 Days
- Maturity Amount: ₹2,21,208
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Total Profit: ₹21,208
Why Choose Canara Bank FD Scheme?
- Safe and Secure Investment : Your money is protected under a government-regulated bank.
- Attractive Interest Rates : Higher returns compared to normal savings accounts.
- Flexible Tenure : 555 days is an ideal short-term duration for safe returns.
- Better Rates for Senior Citizens : Senior citizens get an extra 0.50% interest.
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Guaranteed Returns : Fixed deposits offer assured returns irrespective of market fluctuations.
Conclusion
The Canara Bank 555-Day Fixed Deposit Scheme is an excellent opportunity for individuals who wish to earn high and secure returns on their investment. With interest rates of 7.10% for regular citizens and 7.60% for senior citizens, this scheme provides both safety and profitability.
So, if you want to make your savings grow safely and steadily, investing in Canara Bank’s 555-Day FD Scheme could be a smart financial decision.