Canara Bank has a fixed deposit calculator which will help you estimate the amount of interest you will earn on the amount you have invested in a Canara Bank fixed deposit. You can use the calculator on the BankBazaar website or the Canara Bank website.
|Maturity Period||Interest rate less than 2 cr||Interest rate more than 2 cr|
|46 days to 90 days||2.90%||2.90%|
|91 days to 179 days||3.90%||3.90%|
|180 days to less than 1 Year||3.95%||3.95%|
|1 year only||4.40%||4.90%|
|Above 1 year to less than 2 years||5.10%||5.60%|
|2 years & above to less than 3 years||5.10%||5.60%|
|3 years & above to less than 5 years||5.10%||5.60%|
|Canara Unique “1111 Days”||5.25%||5.75%|
|5 years & above to 10 Years||5.35%||5.85%|
|5 years & above to 10 Years||5.25%||5.75%|
You can calculate the maturity value of the amount you have invested in a Canara Bank fixed deposit by using the Canara Bank fixed deposit calculator. You have to fill in the fields like tenure, monthly investment amount, and interest rate.
The formula to calculate your amount at maturity is A = P(1+r/n)^nt
In this formula,
The minimum amount that you can deposit is Rs.1,000.
You can get 5.35% interest rate on a fixed deposit with Canara Bank.
A cumulative fixed deposit is where the interest amount is calculated every month and is added with the principal amount for calculating the interest for the next month. Here, every month’s interest will grow and become a part of the invested sum in the next month. The traditional fixed deposit is where the interest for every month is calculated on the first sum that is invested.
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