Canara Bank has come up with a special 310-day Fixed Deposit for 2025 with attractive interest rates and assured returns for short-term investors. The period is for short, and hence the FD is suitable for those seeking stability and high returns as compared to a regular savings bank account without locking away their funds for years.
Why 310-day Fixed Deposit?
The 310-day FD is meant for the conservative investor: salaried persons or retired persons who want to keep money growing safely for nearly less than a year’s time. Offering interest rates above the normal savings account with all their funds under a government-owned bank, the scheme offers both security and convenience.
Key Features of the Scheme
- Tenure: 310 days (just more than 10 months)
- Deposit: Single; Non-recurring
- Interest: At maturity
- Eligibility: Indian residents; Senior citizens and minors (with guardians)
Senior citizens enjoy slightly higher rates of interest, and hence, this FD is more popular as a tool for retirement planning or fulfilling short-term goals financially.
Returns on Investment
Here’s a snapshot of how your investment can grow under the Canara Bank 310-Day FD scheme:
| Investment Amount (₹) | Interest Rate (%) | Maturity Amount (₹) | Interest Earned (₹) |
|---|---|---|---|
| ₹1,00,000 | 7.25% | ₹1,06,160 | ₹6,160 |
| ₹2,00,000 | 7.25% | ₹2,12,320 | ₹12,320 |
| ₹5,00,000 | 7.25% | ₹5,30,800 | ₹30,800 |
| ₹10,00,000 | 7.25% | ₹10,61,600 | ₹61,600 |
Tax Implications
Interest accrued on FDs is taxable under the Income Tax Act. TDS should be deducted if the interest exceeds ₹40,000 in a financial year (₹50,000 for senior citizens). You may provide Form 15G/15H if your income is below the taxable limit in order to waive the TDS.
How to Apply
You can open the 310-day FD through any of Canara Bank’s branches or through net banking and mobile app. Make sure your PAN and Aadhaar have been linked, for easy processing.
Final Thoughts
The Canara Bank 310-Day FD 2025 is an option smart short-term investors seek for safe and definite returns. It has competitive interest rates and minimum flexibility in investment amounts, thereby, perfect for depositing idle funds to fulfill financial objectives in a year.