Maturity: ₹51,63,820 at 6.5% p.a. Interest earned: ₹1,63,820. Senior citizen maturity: ₹51,76,531.
| Year | Deposit | Interest Earned | Maturity Value |
|---|
A ₹50 Lakh Fixed Deposit in Canara Bank for 6 Months at 6.5% p.a. (quarterly compounding) will mature to ₹51,63,820. You earn ₹1,63,820 as interest, giving a total return of 3.3% on your investment.
At 6.5% p.a. (quarterly compounding), ₹50 Lakh FD in Canara Bank for 6 Months matures to ₹51,63,820. Interest earned: ₹1,63,820. Senior citizen maturity: ₹51,76,531 at 7%.
Canara Bank offers 6.5% p.a. for general citizens and 7% p.a. for senior citizens on 6 Months Fixed Deposit. The rate applies regardless of the deposit amount.
For ₹50 Lakh at 6.5% for 6 Months, you would earn approximately ₹1,63,820 as interest, making total maturity ₹51,63,820. Senior citizens earn ₹1,76,531 at 7%.
Yes, premature withdrawal is allowed. Canara Bank's policy: 1% penalty on applicable rate. You will receive a reduced interest rate on early withdrawal.
Compare with other banks on this page to find the best rates. Bank FDs offer DICGC insurance up to \u20B95 Lakh. Consider both rate and safety.