Document
Document
70% Taxpayers Miss
Saving Taxes!
Plan now to save more taxes!
Enter details to receive communications from ClearTax

error-message

+91

error-message

error-message

Canara Bank FD Calculator

SHARE
MONTHS
%
Created with Highcharts 9.3.3PrincipalInterest
Total interest
363
Deposit amount
5,000
Maturiity amount
5,363

Features of Canara Bank Fixed Deposit

  • The tenure for Canara Bank Fixed Deposit (FD) ranges between seven days and 10 years.
  • The bank offers special interest rates for fixed deposits that mature in 444 days.
  • As per the norms of the Deposit Insurance Scheme, Canara Bank deposits up to Rs 5 lakh.
  • An investor can nominate beneficiaries.
  • The bank offers a facility to provide a loan against your fixed deposit.

How to use the Canara Bank Fixed Deposit Calculator?

It is quite easy to calculate the maturity value of your Fixed Deposit (FD) using the Canara Bank FD calculator 2024. By keying in the information in all the respective fields, i.e., all the details related to your FD account, such as investment amount, tenure, and rate, it will calculate the maturity value within a few seconds.

How is Canara Bank FD interest Calculated?

The interest on Canara Bank FD is calculated by multiplying the principal amount, FD rate of interest per annum, and the tenure.

The formula to calculate the maturity amount is as follows: A = P(1+r/n)^n x t

In which:

A = Maturity amount

P = Invested amount

r = Interest rate as a decimal

n = Number of times interest is compounded

t = Tenure of the deposit

Example:

An investor invests Rs 1,00,000 for a period of 5 years at an interest rate of 6.7% per annum. 
Here, 

Principal amount of investment = Rs 1,00,000

Interest rate = 6.7% p.a 

Number of times interest is compounded = 4 (once every 3 months)

Number of years of investment = 5 years

A = 1,00,000 (1+0.067/4) ^ (4 x 5)
A = Rs 1,39,407
Interest amount = Rs 1,39,407– Rs 1,00,000 = Rs 39,407

Benefits of using FD Calculator of Canara Bank

Free of cost: Canara Bank FD Calculator is free of cost and can be used as per convenience for comparing and analysing returns for different combinations of FD tenure, interest rates and principal amount.

Time-saving: The Canara Bank FD Calculator is automated, making the calculation process easier and saving time, negating the possibility of human errors. Manually calculating the maturity value is laborious, time-consuming and raises the chances of errors.

Find your returns in advance: An investor can use the Canara Bank FD Calculator to find an estimate of their FD earnings even before opening the FD account. This aids them in making an informed financial decision directly depending on their liquidity requirements and cash flows.

Canara Bank FD Interest Rates 2024 for Less than Rs 2 crore

Maturity period

Rate (% pa) for General Citizens

Rate (% pa) for Senior Citizens

7 Days to 45 Days

4.00

4.00

46 Days to 90 Days

5.25

5.25

91 Days to 179 Days

5.50

5.50

180 Days to 269 Days

6.15

6.65

270 Days to less than 1 year

6.25

6.75

1 year

6.85

7.35

444 Days

7.25

7.75

Above 1 year to less than 2 years

6.85

7.35

2 years to less than 

3 years

6.85

7.35

3 years to less than 

5 years

6.80

7.30

5 years to 10 years

6.70

7.20

Note: Rates as of November 16, 2023

Other Banks FD Calculators:
1. Fixed Deposit (FD) Calculator
2. SBI FD Calculator
3. HDFC Bank FD Calculator
4. Axis Bank FD Calculator
5. ICICI Bank FD Calculator
6. Punjab Bank FD Calculator
7. Kotak Bank FD Calculator

Frequently Asked Questions

What is the interest of 1 lakh FD in Canara Bank?
What is the FD rate in Canara Bank 2024?
Is Canara Bank safe for FD?
What is the highest FD rate offered by Canara Bank on Fixed Deposit?
What is the maximum deposit amount for the Canara Bank FD account?
What is the minimum amount I can deposit in a Canara Bank fixed deposit account?
What is the highest interest rate of fixed deposits by Canara Bank?

Clear offers taxation & financial solutions to individuals, businesses, organizations & chartered accountants in India. Clear serves 1.5+ Million happy customers, 20000+ CAs & tax experts & 10000+ businesses across India.

Efiling Income Tax Returns(ITR) is made easy with Clear platform. Just upload your form 16, claim your deductions and get your acknowledgment number online. You can efile income tax return on your income from salary, house property, capital gains, business & profession and income from other sources. Further you can also file TDS returns, generate Form-16, use our Tax Calculator software, claim HRA, check refund status and generate rent receipts for Income Tax Filing.

CAs, experts and businesses can get GST ready with Clear GST software & certification course. Our GST Software helps CAs, tax experts & business to manage returns & invoices in an easy manner. Our Goods & Services Tax course includes tutorial videos, guides and expert assistance to help you in mastering Goods and Services Tax. Clear can also help you in getting your business registered for Goods & Services Tax Law.

Save taxes with Clear by investing in tax saving mutual funds (ELSS) online. Our experts suggest the best funds and you can get high returns by investing directly or through SIP. Download Black by ClearTax App to file returns from your mobile phone.

Cleartax is a product by Defmacro Software Pvt. Ltd.

Company PolicyTerms of use

ISO

ISO 27001

Data Center

SSL

SSL Certified Site

128-bit encryption