For Indian savers, Fixed Deposits have long been considered one of the safest avenues that guarantee a fixed return on investment. Canara Bank has come up with an attractive 310-day Fixed Deposit scheme for the year 2025, giving ample scope for investors to earn higher short-term returns without risks. Under this new plan, a deposit of ₹2 lakh can receive an interest of ₹12,000 in merely 310 days, thus making the Canara Bank Fixed Deposit one of the most lucrative short-term FDs available in the market today.
Scheme Details
The Canara Bank 310-Day FD is a very limited-tenure, short-acceptance period rate introduced to lure customers cursed with comparisons of safe yet rewarding investment avenues. The scheme offers 7.5% per annum for regular customers and 8% per annum for senior citizens-the interest rates are very handsome indeed, compared to the usual saving account rates. The short tenure of 310 days lets investors gain quick returns in hand while still enjoying some liquidity as agreed upon in the deposit.–The plan is suitable for wage earners, pensioners, and small capitalists seeking to grow their moneys safely within one year.
Interest Earnings and Maturity Benefits
On a deposit of Rs. 2,00,000, the investor can accrue interest of Rs. 12,000 till maturity for 310 days. Hence, the maturity amount becomes Rs. 2,12,000. The actual return may slightly vary depending on the interest rate available at that time of investment and method of compounding of interest. Investors may choose either cumulative FD where interest gets paid at maturity, or the non-cumulative option where interest is paid either monthly or quarterly.
The advantage of the scheme
The Canara Bank 310-day FD strikes a perfect balance of safety, profit, and flexibility. Some of the benefits include assured returns, online account management through Canara Bank’s NetBanking or Mobile App, and premature withdrawal or a loan against the FD. Being a government bank, Canara Bank assures complete safety of the deposited amount.
Conclusion
Another short-term investment offering stability and decent return is the Canara Bank 310-day Fixed Deposit 2025. The scheme offers ₹12,000 as interest on ₹2 lakh in less than a year, a very secure and safe option, especially for conservative investors, making it their ideal choice for 2025.
