Is Canara Bank FD interest rate enough to generate a handsome corpus?

1. Is Canara Bank FD interest rate enough to generate a handsome corpus? Canara Bank is known for its wide range of banking products and efficient services such as a fixed deposit (FD) at an attractive rate of interest. The bank offers different fixed deposit schemes to the customers according to their needs. You can invest your savings and earn a big chunk from it with a reasonable Canara bank FD interest rate on your deposited amount. To know about the Canara Bank FD rates and investment benefits read the given article. Canara FD schemes for the customers to increase their savings Canara Bank Fixed Deposit: ​The bank provides you this FD scheme for a long term investment plan. You can invest in this FD scheme maximum up to 2 years and a minimum of 15 days according to your requirement. ​Canara Bank FD interest rate​ for the scheme ranges from 4.20% to 6.30%. The bank provides additional interest benefit to senior citizens up to 0.50% that means they can earn maximum interest rate of 6.80%. You can invest minimum INR 1,000 in this FD scheme to earn profits from it. Otherwise, if you want to earn an instant return from the Canara Bank ​Fixed Deposit​ Scheme then you have to invest at least INR 5 lakh and above. Canara Bank Kamadhenu deposit: ​This FD scheme provides you an investment plan with a minimum investment life of 5 months to maximum 2 years. It gives you the benefit of the renewal of the FD scheme for the same time period. The Canara Bank Khamadhenu Scheme is a reinvestment scheme and you can withdraw the amount only after maturity, because if you Pre-withdraw from your FD then you have to pay a 1% penalty charge. Senior citizens also get the interest benefit of 0.50% in this Canara Bank FD scheme. How can you invest in Canara Bank FD Schemes? If you are an existing customer or account holder of Canara Bank then you will automatically get the FD schemes offers via mail or message. On the other hand, if you want to enjoy the benefit of high-interest rate on your FDs then visit the Canara Bank. To invest in the Canara Bank FD you have to submit some documents like ID proof, address proof, etc along with your FD application form. You can also get high Canara bank FD interest rate if you regularly invest a fixed amount for a longer period. Because many financial advisors suggest to invest in the long term because there is no risk in an FD investment. Another alternative by which you can invest in the Canara Bank FD is through a financial marketplace, because it gives you the right advice on your FD investments. On the other hand, you can simply invest in the Canara Bank FD through the bank

2. online services. So FD is the right investment for you if you want to save your money in a regular manner, and Canara bank FD interest rate can make your investment fruitful.