Canara Bank 310-Day FD: Turn ₹5 Lakh into ₹5.30 Lakh+? Check the Latest 2026 Rates!

Mumbai, february 2026: If you have ₹5 Lakh sitting in a savings account earning a measly 3%, you are losing money to inflation every day. In February 2026, Canara Bank's 310-Day Special FD has become the go-to "short-tenure" powerhouse for smart savers.

Why lock your money for 5 years when you can get premium returns in just 10 months?

1. The 2026 Interest Rate Breakdown

Following the RBI's decision to pause the repo rate at 5.25% in February 2026, Canara Bank has optimized its special buckets. While the 444-day and 555-day schemes are famous, the 310-day FD is the secret weapon for those who need liquidity by the end of the year.

Category	Interest Rate (p.a.)	Maturity Value (on ₹5 Lakh)	Total Interest Earned
General Public	6.50%	₹5,27,900	₹27,900
Senior Citizens (60+)	7.00%	₹5,30,100	₹30,100
Super Seniors (80+)	7.25%	₹5,31,200	₹31,200

Note: Calculations are approximate and based on quarterly compounding for the 310-day (approx. 10.2 months) period.

2. Why "310 Days" is the Magic Number in 2026

The Yield Gap: Standard FDs for "270 days to less than 1 year" usually offer lower rates. By hitting exactly 310 days, you enter a "Special Bucket" that pushes your interest rate closer to the 1-year mark.
Liquidity & Timing: If you invest in February 2026, your money matures in December 2026—perfect for year-end expenses, holiday travel, or reinvesting in New Year tax-saving schemes.
Safety Net: As a leading PSU bank, your investment is safe, and up to ₹5 Lakh is 100% insured by the DICGC.

3. Strategic "Pro-Tips" for Investors

Avoid TDS: If your total interest exceeds ₹40,000 (₹50,000 for seniors), the bank will deduct 10% TDS. Submit Form 15G/15H immediately after opening the FD to keep your full earnings.
Partial Withdrawal: Canara Bank allows you to withdraw in units of ₹1,000. If you need ₹50,000 urgently, you don't have to break the entire ₹5 Lakh FD.
The Nominee Rule: Always add a nominee through the Canara ai1 app. In 2026, the digital process takes less than 30 seconds.

How to Open Your 310-Day FD Today

Mobile Banking: Open the Canara ai1 app -> Go to 'Deposits' -> Select 'Fixed Deposit' -> Enter '310 Days'.
Net Banking: Log in to the official portal and select 'New Term Deposit'.
Branch Visit: Carry your PAN and Aadhaar to your nearest branch for instant processing.

The Verdict

Turning ₹5,00,000 into ₹5,30,000+ in just 10 months with zero risk is a win-win. If you are a senior citizen, this is one of the highest-yielding short-term safe havens available in the current market.