Fixed deposits (FDs) have always been one of the most trusted investment options in India. They provide guaranteed returns, safety, and peace of mind. Among the many banks offering attractive FD plans, Canara Bank has introduced a special fixed deposit scheme of 310 days, which has become quite popular among investors looking for short-term yet safe investments.
What is the Canara Bank 310 Days FD Scheme?
Canara Bank offers customers the option to invest in a fixed deposit for 310 days, where they can lock in their funds and earn a higher rate of interest compared to normal savings accounts. This short-term FD is ideal for individuals who want safe returns without committing their money for a very long period.
Interest Rate Offered on the Scheme
The interest rate for this scheme generally ranges between 6.75% to 7.25%, depending on whether the depositor is a regular customer or a senior citizen. Senior citizens enjoy a slightly higher rate of return.
Returns on ₹2,00,000 Investment
If you invest ₹2,00,000 in Canara Bank’s 310 days FD, here’s how much you can expect to receive at maturity:
| Investor Type | Deposit Amount | Tenure | Interest Rate (Approx.) | Maturity Amount (Approx.) | Total Interest Earned |
|---|---|---|---|---|---|
| Regular Investor | ₹2,00,000 | 310 days | 6.75% | ₹2,11,400 | ₹11,400 |
| Senior Citizen | ₹2,00,000 | 310 days | 7.25% | ₹2,11,900 | ₹11,900 |
This calculation shows that even for a short period of less than a year, investors can earn a handsome return with zero risk.
Why Choose Canara Bank FD Scheme?
Canara Bank is one of the largest public sector banks in India, trusted by millions. The 310 days FD scheme not only provides attractive interest rates but also ensures complete safety of the investment as it is backed by a government-owned institution. Additionally, investors have the option of premature withdrawal in case of emergencies, subject to a small penalty.
Who Should Invest in This Scheme?
This FD is suitable for salaried individuals, senior citizens, and short-term investors who wish to park their funds safely for less than a year while still enjoying higher returns than a normal savings account.
Final Thoughts
If you are looking for a safe and short-term investment, Canara Bank’s 310 days FD scheme is an excellent choice. An investment of ₹2,00,000 can yield more than ₹11,000 as interest in less than a year, making it a secure and profitable option for conservative investors.