FD Update: Government bank is giving Rs 92,576 interest on FD of Rs 4 lakh, people are investing in large numbers..

Canara Bank FD Interest Rates: After the Reserve Bank of India (RBI) cut the repo rate by a total of 1.00% (which was done three times), all banks have also reduced their fixed deposit (FD) interest rates. This cut has affected almost all tenure FD schemes, which means that now investors will get less interest on FD than before.

However, customers are still getting attractive returns on FD. Today, we will learn about the FD scheme of the public sector Canara Bank. Here we will know how much money will be received on maturity if you deposit Rs 4 lakh in a 24-month FD in Canara Bank?

Facility to get FD up to 10 years in Canara Bank-
Canara Bank, a leading government bank, is offering interest ranging from 3.50% to 7.10% on fixed deposits (FD). You can make FDs for a period of 7 days to 10 years. Canara Bank is giving a maximum interest of 6.60% to general citizens and 7.10% to senior citizens on FDs of 444 days. At the same time, general citizens are getting 6.50% interest and senior citizens are getting 7.00% interest on FDs of 24 months (2 years)

If you deposit Rs 4 lakh, how much money will you get on maturity?

If Rs 4 lakh is deposited in a 24-month FD in Canara Bank, then general citizens will get a total of Rs 4,85,363 on maturity, which includes a fixed interest of Rs 85,363. Similarly, if a senior citizen deposits Rs 4 lakh in a 24-month FD in Canara Bank, then he will get a total of Rs 4,92,576 on maturity, which includes a fixed interest of Rs 92,576. As we told you, Canara Bank is a Government Bank; hence, your money is completely safe here.

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