Canara Bank FD Calculator

The Canara Bank FD Calculator by 5paisa is a simple tool that helps you estimate two things before you book a fixed deposit: the interest you may earn and the maturity amount you may receive. You enter basic inputs such as deposit amount, tenure, interest rate and (where relevant) compounding frequency. The calculator then gives you a quick projection, which is useful when you’re comparing tenures or checking how much a slightly higher rate or longer period could change the outcome. On 5paisa, you can use the FD calculator to run these “what-if” checks in seconds, without doing manual maths.

How Does A Canara Bank FD Calculator Work?

An FD calculator works by applying the deposit interest rate to your principal for the selected tenure, using the bank’s interest calculation method (commonly compound interest for cumulative FDs). In practice, it takes your:

• Principal (deposit amount)
• Rate of interest (annual)
• Time (tenure)
• Compounding frequency (monthly/quarterly/half-yearly/annual, depending on the scheme)

…and calculates the maturity value. For non-cumulative FDs (where interest is paid out monthly/quarterly), the calculator typically shows the periodic payout and may also show the total interest over the tenure.

FD maturity calculations usually follow a compound interest approach for cumulative deposits:

Maturity Amount (A) = P × (1 + r/n)^(n×t)

Where:

P = Principal (initial deposit)

r = Annual interest rate (in decimal)

n = Number of times interest is compounded in a year

t = Tenure (in years)

For a quick interest estimate:
Interest Earned = A − P

If the FD is non-cumulative (interest payout), the formula logic changes slightly because interest isn’t reinvested; instead, the payout is calculated on the principal at the agreed frequency.

Using the calculator is fairly straightforward. Here’s a clean way to do it on 5paisa:

• Enter the deposit amount (e.g., ₹50,000 or ₹2,00,000).
• Select the tenure (days/months/years, depending on the input format).
• Add the interest rate applicable for that tenure and customer category.
• Choose the interest type, if the calculator offers it (cumulative vs payout).
• Click Calculate to view the maturity value and total interest.

One small tip: if you’re comparing options, keep the deposit amount constant and change only one factor at a time (tenure or rate). It makes the comparison much clearer.

FD interest is typically calculated on the principal amount at the agreed annual rate, with the final outcome depending on whether the deposit is cumulative or payout-based.

• Cumulative FD: Interest is added back to the principal at defined intervals (often quarterly), so you earn interest on interest over time.
• Non-cumulative FD: Interest is paid out at regular intervals (monthly/quarterly/half-yearly), and the principal usually remains unchanged until maturity.

The exact compounding and payout rules can vary by scheme and tenure. That’s why an FD calculator is helpful - it mirrors the compounding logic and shows the expected maturity value without guesswork.

An FD calculator is useful because it helps you plan with fewer surprises. Key benefits include:

• Quick estimates: You get maturity value and interest in seconds.
• Tenure comparison: Useful when deciding between, say, 1 year vs 18 months.
• Goal mapping: Helps you see what deposit amount may align with a target value.
• Clarity on compounding: Shows how compounding can change outcomes over time.
• Fewer manual errors: Avoids calculation slips, especially with uneven tenures.

On 5paisa, this also becomes a handy “sense check” tool when you’re reviewing multiple FD options and timelines.

Canara Bank typically offers FD options designed for different needs, such as:

• Regular Term Deposits: Standard FDs across a wide range of tenures.
• Cumulative FDs: Interest is compounded and paid at maturity.
• Non-Cumulative FDs: Interest is paid periodically (monthly/quarterly, etc.).
• Senior Citizen FDs: Often carry an additional rate for eligible depositors.
• Tax-Saver FDs: Usually come with a lock-in period and are positioned for tax-related planning needs under applicable rules.

Exact scheme names and features can change, so it’s worth aligning the calculator inputs with the specific FD type you’re considering.

Canara Bank FD rates vary by tenure, deposit amount slab, and customer category (general vs senior citizen). Rates are revised from time to time, so treat any rate table as a snapshot rather than a promise.

A practical way to look at it is:

• General customers: typically up to around 6.50% p.a. on select tenures
• Senior citizens: typically up to around 7.00% p.a. on select tenures