Canara Bank Launches 310-Day Investment Certificate for Diwali 2025
Canara Bank has rolled out a specially crafted short-term deposit product coinciding with the 2025 Diwali festival. This investment vehicle, officially termed an FD scheme, offers individuals a secure way to grow capital with a fixed maturity period of just 310 days. It is designed specifically for savers seeking competitive, guaranteed returns without a long-term commitment.
Attractive Interest Rates and Key Details
The scheme offers compelling returns, particularly for senior investors:
- Standard Rate: Depositors under 60 years of age qualify for an annual interest rate of 6.35%.
- Enhanced Rate for Seniors: Customers who are senior citizens receive a premium rate of 6.85% per year.
- Initial Deposit: The minimum sum required to open this certificate is accessible at only ₹1,000.
- Income Options: Investors may choose to receive their interest credited at fixed intervals (monthly, quarterly, or semi-annually) or have the entire sum, including accrued interest, paid out upon completion of the 310-day term.
Understanding Your Potential Earnings
Let’s look at the financial outcome of a moderate investment. A principal of ₹2,00,000 placed in the scheme at the standard 6.35% annual rate is projected to yield a total maturity value of approximately ₹2,12,350.
Due to the half-percent rate advantage, senior investors will realize a greater overall return. The final credited amount will vary slightly depending on the chosen frequency of interest payments (i.e., whether it is compounded or paid out).
Security and Ideal Use Case
As a premier public sector bank, Canara Bank provides an inherently safe environment for your savings. All funds placed in this deposit are protected up to ₹5 lakh under the comprehensive guarantee of the Deposit Insurance and Credit Guarantee Corporation (DICGC).
This 310-day deposit certificate is an optimal solution for disciplined savers targeting specific, near-term goals—such as funding tuition, accumulating a travel budget, or building a strong reserve fund. Its structure allows for better growth than a standard savings account, offering the perfect blend of safety and attractive returns within a single calendar year.