Canara Bank Fixed Deposit Calculator

The Canara Bank Fixed Deposit Calculator is an online tool that helps you estimate the maturity amount and interest earned on your fixed deposit with Canara Bank. You can quickly calculate your returns without manual effort by entering details such as the deposit amount, tenure, and applicable interest rate. This tool is handy for comparing different FD tenures and investment amounts to plan your savings efficiently.

Benefits of Canara Bank Fixed Deposit Calculator

• Helps You Choose the Ideal Tenure
  The calculator lets you compare returns across different deposit periods, helping you select the most suitable tenure based on your financial goals.
  

• User-Friendly and Hassle-Free
  With a simple interface and instant results, the calculator makes it easy to estimate your FD maturity amount without any manual effort or complex formulas.
  

• Unlimited Free Calculations
  You can use the tool as many times as needed, adjusting the deposit amount, interest rate, and tenure to explore various investment scenarios.

Benefits of Canara Bank Fixed Deposit

• Simple Account Opening Process
  Opening a Canara Bank FD is quick and hassle-free, whether done online or at a branch. Minimal documentation ensures ease of access for all customers.

• Attractive Interest Rates
  Canara Bank offers competitive FD interest rates, helping you grow your savings with safe and steady returns over the chosen tenure.

• Loan Facility up to 90% of the Deposit
  Need funds in an emergency? You can avail a loan or overdraft of up to 90% of your FD amount without breaking the deposit.

• Partial Withdrawal Allowed
  You can partially withdraw your fixed deposit in multiples of ₹1,000 whenever needed, while the remaining amount continues to earn interest as usual.
  
• Higher Interest Rates for Senior Citizens
  Senior citizens enjoy preferential interest rates on FDs, making it a more rewarding and secure investment option for retirement planning.

How to Use the Wishfin Canara Bank FD Calculator?

• Access the Calculator - Navigate to the Wishfin Canara Bank FD Calculator.

• Enter the Investment Amount – Specify the sum you wish to deposit in the fixed deposit. The calculator accepts values ranging from ₹500 up to ₹1 crore.

• Specify the Interest Rate - Enter the applicable annual interest rate. Canara Bank's Fixed Deposit rates vary based on tenure and customer category (e.g., senior citizens may receive higher rates).

• Select the Tenure - Choose the tenure of your fixed deposit by specifying the duration in days, months, or years. The calculator accommodates tenures from 7 days up to 10 years.

• Review the Results - Upon entering the above details, the calculator will display:

1. • Total Investment: The principal amount you plan to deposit.
   • Interest Amount: The total interest you will earn over the chosen tenure.
   • Total Amount: The sum of your principal and the interest earned, representing the maturity amount.

Formula for Calculating Canara Bank Fixed Deposit Return

The formula for calculating the maturity amount of a Canara Bank Fixed Deposit depends on the type of interest applied—simple interest or compound interest. In most cases, banks, including Canara Bank, use compound interest for FDs.

Simple Interest Formula (Used rarely for some short-term FDs)

A=P+(P×r×t)

Where -

• P = Principal

• r= Rate of Interest

• t = Tenure

Compound Interest Formula (Most Common for FDs)

A = P (1 + r/n)^(nt)

Where:

• A = Maturity Amount
• P = Principal Amount (Initial deposit)
• r = Annual Interest Rate (in decimal, so 7% = 0.07)
• n = Number of compounding periods in a year (quarterly = 4, monthly = 12)
• t = Tenure of deposit in years

Canara Bank Fixed Deposit Interest Rate

Find the latest Canara Bank Fixed Deposit interest rate of 2025 applicable to your FD.

1. Domestic

Less than Rs.3 Crore