Fixed Deposits are one of the most trusted investment instruments which allow you to earn a guaranteed return on the deposited amount. Canara Bank is one such public sector bank where you can open a fixed deposit conveniently and earn lucrative returns. You can use the Canara Bank FD calculator to get an idea of the estimated interest payout, invested amount, and total value that can be accrued at the time of maturity.
You can determine the deposit that will prove advantageous at maturity depending on the prevailing interest rate for a particular term. This way, you can easily plan your finances and make the most of the investment option.
Canara Bank Fixed Deposit calculator is an effective financial tool that enables you to gauge the amount of interest you will earn on the hard-earned money deposited in the FD account for a specific tenure. By using the tool, you can compare the different FD plans of Canara Bank and determine which one will help you meet your financial goals.
Estimating the FD earnings in advance has become feasible with the availability of an online FD calculator. It helps you make an informed financial decision.
|Regular Fixed Deposit Scheme|
|Kamadhenu Deposit Scheme|
|Canara Tax Saver Scheme|
|Ashraya Deposit Scheme|
It is very easy to access the Canara Bank FD interest calculator. Here are the steps that will help you access the Canara Bank FD calculator:
Step 1: Go to the official website of the Canara Bank and head to the fixed deposit calculator page.
Step 2: Now enter the interest rate, deposit amount, deposit type, and tenure. You can also use the slider to adjust the numbers.
Step 3: Now click on calculate to see the result instantly on the screen.
As you will change the variables, you will see the result changing in an instant.
The Canara Bank FD calculator bestows investors with the following benefits.
TheCanara Bank FD calculator helps you with simplified investment calculations. Besides saving time and effort, it helps you to assess any sort of risk. In addition, it has become easy to find out varied investment scopes and diversify the portfolio.
You can deposit a minimum amount of ₹1000 in the Canara Fixed Deposit account.
In cumulative FD, the interest amount is compounded annually and is paid to the investor at maturity. On the other hand, in non-cumulative fixed deposits, the interest pay-out is done monthly, half-yearly, quarterly, or annually.
Yes, you get to reap tax benefits on fixed deposits. If the total interest goes above ₹10,000 in a financial year, 10% TDS is deducted from the returns earned from the FD.