SBI vs Canara Bank FD Rates: Estimated returns on a Rs 10 lakh deposit over 5 years
Compare SBI and Canara Bank FD rates to understand the best fixed deposit investment for your savings. Explore features, benefits, and estimated returns on a Rs 10 lakh deposit over 5 years. Both banks offer attractive interest rates, especially for senior citizens, ensuring a secure investment option with guaranteed returns.
Fixed deposits (FDs) are a popular investment choice for those seeking secure returns. In this article, we compare the FD rates offered by SBI and Canara Bank, highlighting the key features and benefits of both options. By examining the interest rates and estimated returns on a Rs 10 lakh deposit over 5 years, you can make an informed decision. Whether you're a regular investor or a senior citizen looking for additional benefits, understanding these FD rates will help maximise your investment.
SBI FD Rates
Features and Benefits of SBI Fixed Deposit
- Tenure: Ranges from 7 days to 10 years
- Minimum Deposit: Rs. 1000
- Senior Citizen Benefits: 0.50% extra interest on deposits above Rs. 10,000
- Nomination Facility: Available
- Auto-Renewal Facility: Available
- Loan Against FD: Available
- TDS: Deducted if Form 15G/15H not submitted
- Rating: FAAA/Stable by CRISIL (Indicates stability and guaranteed returns)
- New Scheme: 444-day deposit scheme with 7.25% interest
