Canara Bank FD Scheme : In today’s time, the phase of inflation is continuously rising day by day. In such times, people prefer to invest 10% to 20% of their income in government funds or bank fixed deposit (FD) schemes to secure their future. If you are also planning to invest a portion of your earnings, then a bank fixed deposit scheme can prove to be a great option for you. Your money will remain completely safe, and you will also receive attractive returns with strong interest rates. Let’s take a look below at the details of Canara Bank’s newly launched 555-day “Dhaakad” Fixed Deposit Scheme, and find out how much interest is being offered to regular and senior citizens.
Canara Bank launches 555-day “Dhaakad” Fixed Deposit Scheme with bumper interest rates
Recently, Canara Bank launched an impressive fixed deposit scheme with a tenure of 555 days. Under this scheme, regular citizens will receive an attractive 7.10% interest rate, while senior citizens will get a 7.60% interest rate.
Let’s now understand how much return an investor can get by investing ₹2,00,000 under this new FD scheme.
Canara Bank’s 555-day FD Scheme: ₹2 lakh investment brings bumper returns
Under Canara Bank’s 555-day Dhaakad Fixed Deposit Scheme, regular citizens earn 7.10% interest.
So, if a regular citizen invests ₹2,00,000, the total maturity amount after 555 days will be approximately ₹2,19,370, resulting in a profit of ₹19,370.
For senior citizens, the interest rate is 7.60%.
If a senior citizen invests ₹2,00,000, they will receive around ₹2,21,208 at maturity, gaining a profit of ₹21,208.
In summary, Canara Bank’s 555-day Dhaakad Fixed Deposit Scheme offers both safety and attractive returns, making it an excellent short-term investment choice for regular and senior citizens alike.
