Calculate your maturity amount and interest earned specifically for Canara Bank FD schemes. Plan your investment with accurate interest compounding logic tailored for Indian banks.
₹
%
General Public
Senior Citizen (+0.50%)
Days
Months
Years
Invested Amount:₹ 0
Total Interest Earned:₹ 0
Maturity Value:₹ 0
* Calculated using Quarterly Compounding logic.
Understanding Fixed Deposit Rates in India (Canara Bank)
Fixed Deposits (FDs) are one of the most secure investment options in India. Canara Bank, being a leading public sector bank, offers competitive interest rates on FDs for various tenures ranging from 7 days to 10 years.
How is the Interest Calculated?
In India, FD interest calculation depends on the tenure of the deposit:
Short Term (Less than 6 months): Generally calculated using Simple Interest.
Long Term (6 months and above): Interest is compounded quarterly (every 3 months). This means you earn interest on your interest, leading to higher returns over time.
This calculator automatically switches between simple interest and quarterly compounding based on standard Indian banking practices to give you a precise estimate.
Current Canara Bank FD Insights
Canara Bank frequently updates its rates based on RBI repo rates. Special schemes, such as the 444 Days plan, often offer higher interest rates compared to standard 1-year or 2-year deposits.
Tenure Range
General Citizens (Approx Rate)
Senior Citizens (Approx Rate)
7 Days to 45 Days
4.00%
4.00%
46 Days to 179 Days
5.25% – 6.00%
5.25% – 6.00%
1 Year
6.85%
7.35%
444 Days (Special)
7.25%
7.75%
Above 5 Years
6.50%
7.00%
Note: Rates are subject to change by the bank without prior notice. Senior citizens typically enjoy an additional premium of 0.50% p.a. over the card rate.
Taxation on FD Interest (TDS)
Interest earned on Fixed Deposits is fully taxable. If the interest income exceeds ₹40,000 (₹50,000 for senior citizens) in a financial year, the bank deducts Tax Deducted at Source (TDS) at 10% if PAN is provided, or 20% if not.
function adjustRateSuggestion() {
// Optional helper to nudge user towards realistic rates based on selection
// Not changing values automatically to avoid overriding user input
}
function calculateFD() {
// 1. Get Input Values
var P = parseFloat(document.getElementById('depositAmount').value);
var R = parseFloat(document.getElementById('interestRate').value);
var tenureVal = parseFloat(document.getElementById('tenureValue').value);
var tenureType = document.getElementById('tenureType').value;
// 2. Validation
if (isNaN(P) || P <= 0) {
alert("Please enter a valid Deposit Amount.");
return;
}
if (isNaN(R) || R <= 0) {
alert("Please enter a valid Interest Rate.");
return;
}
if (isNaN(tenureVal) || tenureVal <= 0) {
alert("Please enter a valid Tenure.");
return;
}
// 3. Normalize Tenure to Days for logic determination
var totalDays = 0;
if (tenureType === 'days') {
totalDays = tenureVal;
} else if (tenureType === 'months') {
totalDays = tenureVal * 30.416; // Average days in a month
} else if (tenureType === 'years') {
totalDays = tenureVal * 365;
}
var maturityAmount = 0;
var interestEarned = 0;
var methodUsedText = "";
// 4. Calculation Logic
// Indian Banks usually apply Simple Interest for = 180 days.
if (totalDays < 180) {
// Simple Interest Formula: P + (P * R * T_years)
// T_years = totalDays / 365
var t_years = totalDays / 365;
interestEarned = Math.round(P * (R / 100) * t_years);
maturityAmount = Math.round(P + interestEarned);
methodUsedText = "Simple Interest (Tenure 6 months)";
}
// 5. Display Results
// Formatting to Indian currency style (e.g., 1,00,000)
var formatOptions = { style: 'currency', currency: 'INR', maximumFractionDigits: 0 };
document.getElementById('displayPrincipal').innerText = P.toLocaleString('en-IN', formatOptions);
document.getElementById('displayInterest').innerText = interestEarned.toLocaleString('en-IN', formatOptions);
document.getElementById('displayMaturity').innerText = maturityAmount.toLocaleString('en-IN', formatOptions);
document.getElementById('methodUsed').innerText = methodUsedText;
// Show result box
document.getElementById('result-container').style.display = 'block';
}