Explore the robust option of Canara Bank Fixed Deposit (FD), a wise investment avenue offered by one of India's leading Nationalised Banks since 1906. Canara Bank presents numerous FD choices, ensuring stability and growth for investors.

Key Features of Canara Bank FD:

1. Interest Rates: Canara Bank FD features appealing interest rates from 5.50% to 6.70% for terms ranging between 3 months and 10 years.
2. Minimum Deposit: The minimum to start an FD is ₹1000, ensuring wide investor accessibility.
3. Senior Citizen Benefits: An additional 0.50% interest rate annually is offered to senior citizens for better returns.
4. Loan Facility: Offers loan or overdraft up to 90% of the deposited sums.

Specialized FD Schemes:

1. Canara Khazana Deposit: Provides specialized interest rates for targeted financial objectives.
2. Canara Shikhar Deposit: Designed FD scheme with lucrative interest rates for enhanced returns.
3. Canara Tax Saver Scheme: Avails tax advantages under Section 80C with a 5-year lock-in period.
4. Canara Bank Kamadhenu Deposit: A reinvestment scheme offering flexibility in tenure and withdrawal.
5. Canara Bank Ashraya Deposit Scheme: Dedicated scheme for seniors with both cumulative and non-cumulative options.

Interest Rates Based on Tenure:

• Short-term Deposits (7 days to 12 months): Rates from 3.25% to 6.50% p.a.
• Medium-term Deposits (1 year to < 5 years): Approximately 6.25% to 6.50% p.a.
• Long-term Deposits (5 years to 10 years): Set at 6.50% p.a.

Opening a Canara Bank FD:

Opening an FD with Canara Bank ensures convenience, be it via internet banking, mobile app, or a branch visit, with a starting deposit of ₹1000.

Taxation and Other Considerations:

• Interest earnings are taxable as per prevailing income tax slab rates.
• TDS of 10% is deducted if income exceeds ₹40,000 annually for regular citizens and ₹50,000 for seniors.

Additional Benefits:

• Loans Against FDs: Access up to 90% of the deposit amount.
• Premature Closure: Permitted with a 1% penalty on the deposited sum.

Conclusion:

Canara Bank FD - A Trustworthy Investment

In summary, Canara Bank Fixed Deposit stands out as a dependable investment choice, providing security and growth through captivating interest rates and diverse schemes. Opting for Canara Bank FD means safeguarding and expanding your savings confidently for a set term. Embark on secure financial planning with Canara Bank Fixed Deposit.