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Canara Bank Fixed Deposit Interest Rate Calculator calculates the interest earned on a fixed deposit with the help of outlined components:
(1) Deposit Amount
It offers competitive interest rates up to 5.50% on its fixed deposits. Canara Bank FD Calculator helps you estimate how much interest you will earn on your hard-earned money parked in the FD account. Canara Bank Savings Bank Account (SB account) is intended for savings for future. The main objective of this type of account is to promote savings habit in any person. A savings account is one of the most basic bank accounts offered by banks. It lets you keep your money in a safe place, deposit and withdraw as and when you need it, without any. Key Points of Canara Bank Recurring Deposit Interest Rates Canara Bank’s interest rates go up to 7.00% RD interest rates are compounded quarterly Canara bank accepts minimal deposit starting from as low as Rs.50. Canara Bank will offer a 2.95 percent interest rate for term deposits with a maturity period of 7 to 45 days. The bank will give 3.9, 4.0 and 4.45 percent for FDs with maturity periods 46-90 days.
It is an amount which an FD account holder wants to invest in the fixed deposit. It is also called principal. It is to be remembered that this amount can be deposited only once hence you have to decide the amount to be invested according to your investment objectives.
(2) Interest Rate
200 free spins for real money. It is the rate of interest offered by the bank where you open the FD. It differs for different tenures. Once FD is opened for a specific tenure then the interest rate will remain the same for the whole tenure.
(3) Term of Deposit (FD Tenure)
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It is the duration for which the amount is invested in an FD which may vary from 7 days to 10 years. In the calculator, you can select the tenure in days, months or year.
Canara Bank Deposit Rates 2021
(4) Compounding of Interest
Canara Bank Fixed Deposit
Interest can be compounded on monthly, quarterly, half yearly or annual basis. It can be a simple interest as well. You need to enter it based on the offer by the bank.