Use the Canara Bank FD Calculator to determine the maturity amount for your FD by providing the Invested FD Amount, interest rate (p.a), and tenure details.

₹

%

Maturity Date | : |

Invested Amount | : ₹10,000 |

Interest Amount | : ₹666 |

Maturity Amount | : ₹10666 |

The Canara Bank FD Calculator helps you determine the interest you'll earn and maturity value for different FD amounts and tenures. Canara Bank FD offers competitive interest rates, with the highest rate being 6.90% for 1 year tenure. Just enter the principal amount, the fixed deposit tenure, and the fixed deposit interest rates in the calculator to instantly get the interest income and maturity value.

The **Canara Bank FD Calculator** enables you to swiftly estimate potential returns on fixed deposits, aiding in informed decision-making.

Here is the step-by-step guide:

1. Open the **FD Calculator page**.

2. Input the principal amount and interest rate, specifying the tenure in days, months, or years.

3. The calculator instantly generates results, displaying the maturity amount based on the provided information.

4. Users can experiment with different combinations of principal, tenure, and interest rates to find an investment strategy aligned with their financial goals.

The interest rates for Canara Bank Fixed Deposits change depending on the tenure. This gives depositors the freedom to choose what suits them best. For regular citizens, the FD rates range from 4.00% to 7.25% per annum, and for senior citizens, the rates range between 4.00% to 7.75% per annum. You can choose any time period between 7 days and 10 years for these rates to apply.

FD Tenure | Interest Rates (% p.a.) for Regular Citizens | Interest Rates (% p.a.) for Senior Citizens |
---|---|---|

7 days to 45 days* | 4.00 | 4.00 |

46 days to 90 days | 5.25 | 5.25 |

91 days to 179 days | 5.50 | 5.50 |

180 days to 269 days | 6.15 | 6.65 |

270 days to less than 1 year | 6.25 | 6.75 |

1 year | 6.90 | 7.40 |

444 days | 7.25 | 7.75 |

Above 1 year to less than 2 years | 6.85 | 7.35 |

2 years to less than 3 years | 6.85 | 7.35 |

3 years to less than 5 years | 6.80 | 7.30 |

5 years to 10 years | 6.70 | 7.20 |

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The Canara Bank Fixed Deposit Calculator plays a major role in calculating the maturity amount. The formula for calculating the maturity amount is as follows:

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

where,

A is the maturity amount.

P is the principal amount,

r is the annual interest rate,

n is the number of times interest is compounded per year,

t is the tenure in years.

Suppose you invest ₹3,00,000 in a Canara Bank Fixed Deposit with the following details:

Principal amount (P): ₹3,00,000

Rate of interest (r): 7.75% per annum

Compounding frequency (n): Annual compounding (1 time a year)

Tenure (t): 3 years

Using the formula:

A = 3,00,000×(1+ 0.0775/1)^1×3

A = 3,00,000×(1.0775)^3

A = 3,00,000×1.2340

A = ₹3,77,684/-

Thus, the maturity amount after 3 years would be approximately ₹3,77,684. This calculation reflects the potential returns on a ₹3,00,000 deposit in Canara Bank Fixed Deposit with an annual interest rate of 7.75%.

The compound interest formula plays a crucial role in understanding how the interest accumulates. The formula is expressed as

**C.I = P {(1 + r/100)^t – 1}]**

Here,

C.I represents the compound interest,

P is the principal amount,

r is the annual interest rate, and

t is the tenure in years.

**Example:**

Consider an Canara Bank Fixed Deposit with the following details:

Principal amount (P): ₹3,00,000

Rate of interest (r): 7.75% per annum

Tenure (t): 3 years

Using the compound interest formula:

C.I = (3,00,000(1+ 0.0775)^3)) −3,00,000

C.I = (3,00,000×(1.0775)^3) −3,00,000

C.I = (3,00,000×1.1627) −3,00,000

C.I = ₹75,295/-

In this example, the compound interest earned on a ₹3,00,000 Canara Bank Fixed Deposit with a 7.75% annual interest rate over 3 years would be approximately ₹75,295. This calculation accounts for the compounding effect, reflecting the total interest accrued on the investment.

The Canara Bank FD calculator offers a seamless process, ensuring hassle-free calculations for interest income and maturity values. With its user-friendly interface, you can explore multiple scenarios, customizing values to align your investment strategy with your financial goals.

**Choosing the Right Tenure:**By inputting different tenures such as days, months and years, users can assess how the duration of their fixed deposit affects the interest earned and the maturity value.**User-Friendly and Hassle-Free Calculation:**The simple interface make it easy for individuals to navigate and use the calculator efficiently.**Multiple Use and Value Customization:**Users can utilize the calculator multiple times and experiment with different values. This flexibility empowers users to choose their fixed deposit plans according to their financial preferences and goals.

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**Check other Banks FD Calculators from below:**

**Also, check Small Finance Banks FD Calculators from below:**

**Canara Bank FD Calculator** helps estimate the interest and maturity amount for fixed deposits. It works by using the provided principal amount, tenure, and applicable interest rates to perform calculations based on the compound interest formula.

**Buddy Loan** website, navigate to the FD Calculator page, and input the required details such as principal amount, tenure, and interest rate to access the calculator.

Yes, the calculator takes compounding interest into account when estimating fixed deposit returns.

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