When it comes to securing stable returns with minimal risk, fixed deposits remain one of the top investment choices for Indians. Among the leading options available, the Canara Bank 310-day FD 2025 stands out for its competitive interest rate, flexible withdrawal options, and attractive benefits for senior citizens.
Let’s dive into all the details — from ROI to premature withdrawal rules and tax implications — so you can make an informed decision.
Overview of Canara Bank 310-Day FD 2025
The Canara Bank 310-day FD 2025 is a short-term fixed deposit plan designed for individuals seeking guaranteed returns within less than a year. It offers both regular and senior citizen rates with flexibility in interest payouts.
| Particulars | Details |
|---|---|
| Tenure | 310 days |
| Minimum Deposit | ₹1,000 |
| Maximum Deposit | No upper limit |
| Interest Payout | Monthly, quarterly, or at maturity |
| Loan Facility | Available against FD |
| Premature Withdrawal | Permitted with penalty |
| Eligibility | Indian residents, NRIs, senior citizens |
Interest Rates (ROI) on Canara Bank 310-Day FD 2025
Canara Bank offers competitive ROI (Rate of Interest) on its 310-day FD scheme, catering to both general and senior citizen investors.
| Category | Interest Rate (ROI) | Effective Annual Yield |
|---|---|---|
| General Public | 6.85% p.a. | ~7.05% |
| Senior Citizens | 7.35% p.a. | ~7.60% |
Note: The rates are indicative and may change as per Canara Bank’s official updates.
Why Choose Canara Bank 310-Day FD 2025?
The short-term FD option offers a blend of safety, liquidity, and assured returns — making it a smart choice for conservative investors.
Key Benefits
- Guaranteed ROI: Fixed returns regardless of market fluctuations
- Short Tenure: Ideal for investors who prefer quick liquidity
- Premature Withdrawal Option: Allows flexibility in case of financial emergencies
- Higher Senior Citizen Rate: Additional 0.50% ROI for citizens above 60 years
- Tax-Saving Advantage: Interest up to ₹40,000 (₹50,000 for seniors) is exempt under Section 80TTB
Premature Withdrawal Policy
While the Canara Bank 310-day FD 2025 allows premature withdrawal, it comes with a small penalty. Here’s a quick breakdown:
| Condition | Penalty/Impact |
|---|---|
| Withdrawal before 7 days | No interest payable |
| Withdrawal after 7 days but before maturity | 1% penalty on applicable ROI |
| Partial withdrawal | Allowed, subject to minimum balance rules |
If you’re unsure about short-term liquidity needs, opt for multiple smaller FDs instead of one large deposit to minimize loss during early withdrawals.
Tax Implications
Interest earned on the Canara Bank 310-day FD 2025 is fully taxable as per your income tax slab.
Tax Details
- TDS (Tax Deducted at Source): Applicable if interest exceeds ₹40,000 (₹50,000 for senior citizens)
- Form 15G/15H: Can be submitted to avoid TDS if income falls below taxable limit
- No Section 80C Benefit: As it’s a non-tax-saving FD
Tips to Maximize Your Returns
- Reinvest interest on maturity to benefit from compounding
- Compare ROI periodically as banks revise FD rates based on RBI policy changes
- Opt for quarterly interest payout for better cash flow management
- Senior citizens should always check for special rate offers before depositing
FAQs on Canara Bank 310-Day FD 2025
Q1. What is the current ROI for the Canara Bank 310-day FD 2025?
The ROI ranges from 6.85% for regular customers to 7.35% for senior citizens, depending on the deposit amount and tenure.
Q2. Can I make a premature withdrawal from my 310-day FD?
Yes, premature withdrawal is allowed, but a 1% penalty on the applicable ROI will be deducted from the earned interest.
Q3. Are senior citizen rates higher for this scheme?
Absolutely. Senior citizens receive an additional 0.50% ROI, making their total interest rate more rewarding.
Q4. Is the interest earned on this FD taxable?
Yes. The interest is fully taxable, and TDS applies if earnings exceed ₹40,000 (₹50,000 for senior citizens).
Final Thoughts
The Canara Bank 310-day FD 2025 is a reliable investment option for those seeking a short-term, low-risk deposit with predictable returns. With an attractive ROI, flexible premature withdrawal rules, and better rates for senior citizens, it’s well-suited for both new investors and retirees looking to park surplus funds safely.
If you value stability and steady income, this FD plan from Canara Bank could be the perfect fit for your portfolio.
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