Calculate Canara Bank FD maturity and post-tax returns. Compare FD Rates & Returns
No deductions applicable. 7 slabs from Nil (up to Rs. 4L) to 30% (above Rs. 24L).
Maturity amount
₹6,15,720
after 3 years
Post-tax maturity
₹5,98,362
Total interest earned
₹1,15,720
Effective yield post-tax
6.17%
p.a.
Tax on interest
₹17,358
₹5,00,000 (81.2%)
₹98,362 (16.0%)
₹17,358 (2.8%)
Is your FD working as hard as it should?
Get your wealth check-up todayDisclaimer: This calculator assumes quarterly compounding (standard for Indian bank FDs). Post Office FDs compound annually; some NBFCs compound monthly. Tax is applied on total interest at maturity. In practice, TDS on FD interest is deducted annually (10% with PAN, 20% without). Senior citizen rates (additional 0.25-0.50%) are not differentiated. Non-cumulative FDs with periodic payouts are not modelled.
Drag the slider or type the lump sum you plan to deposit. Range is Rs. 10,000 to Rs. 10 crore.
Use the rate offered by your bank on its latest FD (Fixed Deposit) rate card. The calculator supports 3% to 9.5%.
Pick anywhere from 3 months to 10 years. If you need liquidity soon, Then keep tenure short to avoid premature withdrawal penalties.
Pick "New regime" if you do not claim deductions like 80C, HRA (House Rent Allowance), or home loan interest. Pick "Old regime" if you do.
Choose the slab that matches your annual taxable income (Nil, 5%, 10%, 15%, 20%, 25%, or 30%). This drives the TDS (Tax Deducted at Source) and post-tax yield calculation.
Check Maturity amount, Post-tax maturity, Total interest earned, Effective yield post-tax, and Tax on interest. The donut chart breaks down Principal vs Net interest vs Tax so you can see the real return after tax drag.
A fixed deposit (FD) is a financial product where you place a lumpsum with a bank for a fixed tenure at a predetermined interest rate. At the end of the tenure, you receive your principal plus the accumulated interest. Unlike a savings account, an FD locks your money for a chosen period, anywhere from 7 days to 10 years, in return for a higher, guaranteed interest rate. The rate is fixed at booking and does not change for the life of the FD, even if market rates move.
Canara Bank FDs are popular for three reasons.
The Canara Bank FD Calculator computes your fixed deposit returns using the following formula:
A = P × (1 + r/n)^(n × t)
Where
A = 5,00,000 × (1.171625)^4 ≈ ₹5,34,600
Pre-tax interest: ₹34,600
Post-tax at 30% slab (New Regime): Tax: ₹34,600 × 30% = ₹10,380 Post-tax maturity: ₹5,24,220
Effective yield: 4.88% (still below inflation, but best-in-class for a public-sector FD)
Why Canara leads on 1Y? Government-owned, lower cost of capital, deposit competition from digital fintechs = aggressive 1Y pricing.
Current as of May 2026. Verified against Canara Bank official rate card at canarabank.com.
| Tenure | Regular Rate | Senior Citizen Rate | Premium |
| 7-14 days | 3.50% | 4.00% | +0.50% |
| 15-29 days | 3.50% | 4.00% | +0.50% |
| 30-45 days | 4.00% | 4.50% | +0.50% |
| 46-60 days | 4.75% | 5.25% | +0.50% |
| 61-87 days | 5.00% | 5.50% | +0.50% |
| 88-180 days | 6.00% | 6.50% | +0.50% |
| 6 months to <9 months | 6.00% | 6.50% | +0.50% |
| 9 months to <1 year | 6.25% | 6.75% | +0.50% |
| 1–2 years | 6.25% | 6.75% | +0.50% |
| 2–3 years | 6.50% | 7.00% | +0.50% |
| 3–5 years | 6.25% | 6.75% | +0.50% |
| 5–10 years | 6.25% | 7.00% | +0.75% |
| 5-Year Tax Saver (80C) | 6.25% | 7.00% | +0.75% |
Highest Rate: 6.85% (1-year general) / 7.35% (senior, 1–2Y)
Canara Bank (government-owned, PSU) uses its cost advantage + deposit competition strategy to lead 1–2Y pricing:
Trade-off: 5-year rates are lower (6.00% vs Axis/HDFC at 6.25–6.45%), so Canara is best for 1–3Y ladders, not 5Y+.
Canara's senior premium is uniform +0.50% across all tenures. This matches Axis/HDFC but lags SBI's 1.00% premium on 5Y+.
| Senior Tenure | Rate | vs Regular |
| 1–2 years | 7.35% | +0.50% |
| 2–3 years | 6.90% | +0.50% |
| 3–5 years | 6.50% | +0.50% |
| 5–10 years | 6.50% | +0.50% |
Senior Strategy: Best for 1–2Y laddering. At 5Y+, SBI (7.50%) outpaces Canara (6.50%) by 100 bps.
Canara's signature product, mimicking ICICI Housing's "444-day" concept:
Tenure: Exactly 666 days (~1.83Y)
General Rate: 6.80% p.a.
Senior Rate: 7.30% p.a.
Compounding: Quarterly
Minimum Deposit: ₹1,000
Payout Options: Cumulative or periodic
| NRE FD Tenure | Interest Rate (p.a.) |
| 1–2 years | 6.30% |
| 2–5 years | 6.30% |
| 5–10 years | 6.30% |
Key: NRE interest is 100% tax-free, but rates are 0.55% lower than domestic. Repatriation is unrestricted.
Canara Bank revises rates quarterly in lockstep with RBI monetary policy. The last meaningful change: March 2026 when Canara held 1-year at 6.85% (highest in market) but cut 5-year to 6.00%.
Verify live rates: canarabank.com/interest-rates
Best for: 1–2Y laddering, rate-sensitive retail depositors, senior citizens aged 60+ (7.35% on 1–2Y competitive).
Avoid: 5Y+ commitments (rates lag SBI/HDFC).
| Approach | How It Works | Best For | Post-Tax Return |
| Canara FD (1–2Y) | Lumpsum locked at 6.25%, quarterly CPD | Capital safety, 1–3 year goals, HNI deposits | 5.0% (20% slab) |
| SBI FD (1Y) | Lumpsum locked at 6.80%, quarterly | Higher headline rate, bank ecosystem | 5.44% (20% slab) |
| Debt Mutual Fund | Diversified bond portfolio, managed by AMC | Tax-efficient (long-term), no lock-in | 5.2–6.2% (20%) |
| Liquid Mutual Fund | Overnight/money market, high liquidity | Emergency fund, short-term parking | 6.0–6.5% (20%) |
| Post Office FD (5Y) | Annual compounding, govt-backed | Seniors, rural access, tax saver | 5.36% (20% slab) |
| Bank | 1 Year | 2-3 Years | 5 Years | Senior 5Y+ |
| Canara Bank | 6.85% | 6.40% | 6.00% | 6.75% |
| HDFC Bank | 6.25% | 6.50% | 6.25% | 7.00% |
| SBI | 6.80% | 6.60% | 6.50% | 7.50% |
| Axis | 6.25% | 6.45% | 6.45% | 7.20% |
| PNB | 6.40% | 6.00% | 6.25% | 6.75% |
Canara's Positioning: Tied for 1Y highest (with BoB), but worst 5Y rates. Best for short-term ladders, worst for long-term hold.
Canara Bank is a public sector bank (PSU, majority government-owned) with a 150-year history. One of India's "Big 4" public sector banks alongside SBI, PNB, and Bank of Baroda.
| Attribute | Value |
| Bank Name | Canara Bank |
| Founded | 1906 (Mangalore) |
| Headquarters | Bangalore |
| MD & CEO | Debadatta Chand (2023) |
| Branches | 7,500+ |
| ATMs | 25,000+ |
| Customers | 1+ crore |
| Market Cap | ~₹400 billion |
| DICGC Cover | ₹5 lakh |
| Type/Status | Private Sector Bank, G-SIB status |
| Rate Source | canarabank.com/interest-rates |
D-SIB Status: (Global Systemically Important Bank) is a designation given by international regulators to the world's largest and most interconnected financial institutions.
| Product | Description |
| Regular Fixed Deposit | 7 days–10 years, ₹1,000 minimum |
| Canara Flexi FD | Partial withdrawal allowed |
| Canara 666-Day Special | 6.80% / 7.30% senior |
| Tax Saver FD (80C) | 5-year, ₹1.5L deduction |
| NRE / NRO FD | Non-resident deposits |
| Senior Citizen FD | Tiered senior rates |
| Canara Sweep FD | Auto-sweep savings to FD |
Tenure 7 days to 10 years. Cumulative or monthly/quarterly/annual payout. Minimum ₹1,000. Premature withdrawal: 1% penalty below rate.
A 666-day (~1.83-year) FD at 6.80% general / 7.30% senior. Useful for laddering between 1Y and 2Y buckets. Quarterly compounding. Minimum ₹1,000.
5-year lock-in. ₹1.5L deduction annually under Section 80C (Old Regime). Current rate: 6.00% general / 6.50% senior. Minimum ₹1,000. No premature withdrawal.
Partial withdrawal (up to 75%) allowed after 1-year lock-in. Interest recalculated based on holding period. No full breakage penalty.
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Novelty Wealth does not just calculate FD maturity, it helps you decide whether an FD is the right destination for your money. Connect your existing portfolio and let NovaAI score every option against your goals, tax slab, and risk profile.
Canara is a PSU (public sector bank) with lower cost of capital than private banks. Strategic 1–2Y pricing to compete with digital fintechs and attract rate-sensitive depositors.
Absolutely. PSU status = 100% government backing. G-SIB (Globally Systemically Important Bank) designation + ₹5L DICGC cover.
Canara (6.85%) edges SBI (6.80%) by 5 bps pre-tax. Post-tax difference is negligible (~2–3 bps). SBI is safer bet long-term (better 5Y rates, larger branch network).
Yes, except Tax Saver FD (5-year). Premature withdrawal: 1% penalty below rate.
A 666-day (~1.83-year) FD at 6.80% general / 7.30% senior. Useful for laddering between 1Y and 2Y buckets.
No. Same TDS rules as all Indian banks: 10% TDS if annual interest exceeds ₹40,000 (₹50,000 seniors). File Form 15G/15H to avoid.
+0.50% uniformly across all tenures. Not as generous as SBI (+1.00% on 5Y+) but competitive on 1–2Y.
Yes. Create a 1Y/666-day/2Y/3Y ladder to capture highest 1–2Y rates while diversifying tenor risk.
6.00%. Avoid. SBI (6.50%), Axis (6.45%), HDFC (6.25%) all beat this. Canara's 5Y rates are the weakest in market.
Yes. Enable "Canara Sweep FD" in net banking. Excess savings auto-sweep into FD; withdrawals break FD automatically.
No. Best if you're in 15–20% slab and need 1–2Y parking. At 30% slab, post-tax yield (4.88%) is below inflation. Use NovaAI to compare debt funds at your slab.