Canara Bank has introduced a 310 Days FD Scheme offering 6.75% interest for regular investors and 7.25% for senior citizens. A ₹2,00,000 investment can grow to over ₹2.12 lakh, making it a safe, short-term option for secure and guaranteed returns.
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Safe Investment Options in 2025
In today’s fast-changing financial world, not everyone is comfortable with volatile stock markets or risky mutual funds. For many, Fixed Deposits (FDs) continue to remain the most trusted and stable investment option.
One such attractive plan comes from Canara Bank, one of India’s leading public sector banks. The Canara Bank 310 Days FD Scheme is designed for those looking for secure, short-term investment options with guaranteed returns.
In this article, we’ll break down everything you need to know about this scheme—from the interest rate offered to the returns on ₹2,00,000 investment.
1. What is the Canara Bank 310 Days FD Scheme?
The 310 Days Fixed Deposit Scheme is a special short-term FD offered by Canara Bank.
- Lock-in Period: 310 days (~10 months)
- Safe & Secure: Backed by a PSU bank
- Guaranteed Returns: Not affected by market fluctuations
- Available for both regular customers and senior citizens
This scheme is suitable for investors who want to earn more than savings account interest rates while avoiding the risk of equities.
2. Interest Rate Offered on the Scheme
The Canara Bank 310 Days FD Scheme comes with an attractive interest rate structure:
| Category | Interest Rate (p.a.) |
|---|---|
| Regular Customers | 6.75% |
| Senior Citizens | 7.25% |
This means that senior citizens enjoy an additional 0.50% benefit, ensuring higher income for retirees who depend on fixed interest earnings.
3. Returns on ₹2,00,000 Investment
Now let’s calculate how much you will earn if you invest ₹2,00,000 in this FD scheme:
For Regular Customers (6.75% p.a.):
- Investment: ₹2,00,000
- Duration: 310 days
- Interest Earned: ~₹11,500
- Maturity Value: ~₹2,11,500
For Senior Citizens (7.25% p.a.):
- Investment: ₹2,00,000
- Duration: 310 days
- Interest Earned: ~₹12,350
- Maturity Value: ~₹2,12,350
While the difference may look small, senior citizens enjoy an extra ₹850 in returns for the same investment.
4. Why Choose Canara Bank FD Scheme?
Here are some strong reasons why this FD scheme stands out:
- Safety First: Canara Bank is a leading PSU bank with high trust.
- Higher Interest: Offers better rates than regular savings accounts.
- Flexibility: Medium-term option, not too short or too long.
- Guaranteed Returns: Unlike stock markets, returns are fixed.
- Senior Citizen Benefits: Higher interest ensures better retirement planning.
5. Who Should Invest in This Scheme?
The Canara Bank 310 Days FD Scheme is ideal for:
- Retirees & Senior Citizens – to enjoy stable income with higher interest.
- Salaried Employees – who want safe short-term savings.
- Conservative Investors – who prefer guaranteed returns.
- Parents & Guardians – saving for children’s short-term needs (fees, travel, etc.).
- Business Owners – who want to park surplus funds safely.
6. Performance vs. Other Bank FD Schemes
Here’s a quick comparison of Canara Bank FD with other banks’ special FDs:
| Bank | Tenure | Interest Rate (Regular) | Interest Rate (Senior) |
|---|---|---|---|
| Canara Bank | 310 Days | 6.75% | 7.25% |
| SBI | 400 Days | 6.80% | 7.30% |
| HDFC Bank | 35 Months | 7.05% | 7.55% |
| ICICI Bank | 2 Years | 7.00% | 7.50% |
Verdict: Canara Bank’s 310 Days FD Scheme is best suited for those looking for less than 1-year investments.
7. Key Takeaways for Borrowers
- Short-Term Lock-In: Only 310 days, much shorter than 1–3 year FDs.
- Safe Investment: Guaranteed by a trusted PSU bank.
- Attractive Rates: 6.75% (Regular) and 7.25% (Senior).
- Better Than Savings Account: Higher returns without market risk.
- Maturity Example: ₹2,00,000 grows to ~₹2,11,500 (Regular) or ₹2,12,350 (Senior).
8. Taxation on FD Interest
While FD returns are guaranteed, don’t forget about taxation:
- Interest earned is taxable under “Income from Other Sources”.
- TDS (Tax Deducted at Source) applies if interest exceeds ₹40,000 per year (₹50,000 for senior citizens).
- Investors can submit Form 15G/15H to avoid TDS if within taxable limits.
9. Final Thoughts
The Canara Bank 310 Days FD Scheme is a strong option for anyone seeking a short-term, safe, and rewarding investment. With interest rates of 6.75% for regular customers and 7.25% for senior citizens, it offers a secure way to grow savings without worrying about market risks.
If you have ₹2,00,000 idle in your savings account, parking it in this FD can fetch you an additional ₹11,500–₹12,350 in less than a year.
For those who value peace of mind and guaranteed growth, this scheme is worth serious consideration.
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