Visualize it like this—you put your hard-earned money in a safety vault where it is not only ultra-secure but also silently growing, and giving you a nice amount a little less than a year. Canara Bank’s 310-Day Fixed Deposit (FD) is the one that shines brightest among all the options available in the current market scenario with all the ups and downs happening. The bank introduced it as a 2025 special scheme and it offers 7.15% interest for regular folks and a bumped up 7.65% for senior citizens—rates that defeat most of the short-term competition. This FD is capable to amplify your dormant money whether you are keeping aside a part of your bonus or even forming an emergency nest egg. Read on to know the reasons it is getting popular (and taking money) all over India.
Why Choose The 310-Day Sprint?
Are your goals big but time short? This FD would be your perfect match. The scheme is only 310 days long which is about 10 months and is term for those who want to get rid of the long maturity. Not like the yearly bonds, it will quickly release your funds while at the same time compounding quarterly for the maximum yield. Being part of a public sector giant like Canara Bank, your principal amount remains intact, and DICGC insures it for up to ₹5 lakh. In times of inflation rate ranging from 5% to 6%, earning 7.15% really feels like a success, particularly when savings deposit rates are around 3%-4%.
Rate Breakdown Who Gets What?
Transparency is the name of the game here. The general depositors get 7.15% p.a., while oldies (60 and above) get an additional 0.50% rise making it 7.65%. Super seniors (over 80) might get even more, but please check at the time of booking. These rates, which have been in place since November 2025, are applicable to retail deposits starting from ₹5,000 up to ₹2 crore. Bulk investors dealing with deposits over ₹3 crore will see changes in callable terms, but the master plan is still very attractive for the everyday saver.
| Category | Interest Rate (p.a.) | Example: ₹2 Lakh Maturity (Approx.) |
|---|---|---|
| General Public | 7.15% | ₹2,12,100 (Interest: ₹12,100) |
| Senior Citizens | 7.65% | ₹2,12,600 (Interest: ₹12,600) |
How to Jump In
It is easy to start your journey in this digital era. You just need to log in to Canara’s app or website, choose the 310-Day special FD, type in your amount, and authenticate using Aadhaar or PAN. Branches are also available if you want to have the personal connection. You do not need any additional services—all that you need is a link to your savings account. Nomination is a standard procedure, and in case there is some pressing need, you can borrow up to 90% of the deposit as loan. Exiting early? It is possible after 7 days, but a 1% penalty is imposed—best avoided so that you can enjoy the whole.
Beyond The Numbers
The figures are not merely graphics on a monitor, rather it is a peaceful state of mind. The amount for the retired people goes up as the young, still-in-their-working-phase professionals, just-money-being-saved-for-the-next-bigger-movement, of course, smartly come to the bank with windfalls. Compared to its direct rivals like SBI’s 6.8% short-term rates, Canara has a slight lead. For your personal eco-balance, ignore the waste and go for their Green FD option that contributes to the eco-projects guilt-free. Tax-wise, interest above ₹40,000 invites TDS, but Form 15G/H can help if you qualify. In uncertain 2025 markets, this FD’s assured glow seems to be the only source of light.