Canara Bank 444 Days FD: Earn Smart Returns with This Special Scheme; Check Latest Interest Rates Before You Invest!

Mumbai: Fixed Deposits (FDs) have always been the top choice for middle-class families seeking secure investments with guaranteed returns. If you want to grow your hard-earned money in a trusted, government-backed public sector bank without market risks, Canara Bank’s special 444-day FD scheme might be the perfect financial move for you.

Currently, the bank is offering highly competitive interest rates on this specific short-term tenure for regular citizens, senior citizens, and super senior citizens. Let’s dive into the complete details, latest interest rates, and exact maturity returns of this special scheme.

What is the Canara Bank 444 Days Special FD Scheme?

Canara Bank is one of the largest and most reliable public sector banks in India. To help depositors get better returns in a relatively short period, the bank frequently introduces "Special Tenure" FDs. The 444-day fixed deposit scheme is a stellar example of this.

The key highlight of this scheme is that it offers a significantly higher interest rate window compared to standard 1-year or 2-year FDs. It is an excellent way to lock in your surplus funds for a brief duration and maximize your passive income.

Canara Bank 444 Days FD: Latest Interest Rates

Effective from March 17, 2026, the interest rates for domestic term deposits under ₹3 Crore for the 444-day tenure are structured as follows:

Note: These interest rates apply to domestic term deposits of less than ₹3 Crore. Because interest rates can fluctuate based on RBI’s monetary policy and repo rate adjustments, it is always a good practice to verify the active rates on the official website or your nearest branch before locking in your funds.

Maturity Returns: How Much Will You Get on ₹1L, ₹3L, and ₹5L?

To make your financial planning simpler, here is an estimated return calculation based on Quarterly Compounding:

1. For Regular Citizens (Interest Rate - 6.50%)

• Investment of ₹1,00,000: Approx. ₹1,08,150 (Total Interest Earned: ~₹8,150)

• Investment of ₹3,00,000: Approx. ₹3,24,450 (Total Interest Earned: ~₹24,450)

• Investment of ₹5,00,000: Approx. ₹5,40,750 (Total Interest Earned: ~₹40,750)

2. For Senior Citizens (Interest Rate - 7.00%)

• Investment of ₹1,00,000: Approx. ₹1,08,800 (Total Interest Earned: ~₹8,800)

• Investment of ₹3,00,000: Approx. ₹3,26,400 (Total Interest Earned: ~₹26,400)

• Investment of ₹5,00,000: Approx. ₹5,44,000 (Total Interest Earned: ~₹44,000)

(Please note: The exact maturity amount may vary slightly depending on the bank's internal automated calculator system at the time of account creation).

Key Features and Benefits of Canara Bank 444 Days FD

Beyond the high interest rates, this fixed deposit scheme offers several flexible features:

• Loan and Overdraft Facility: If you face an unexpected financial requirement during the 444-day tenure, you don't have to break your FD. You can seamlessly opt for a loan or an Overdraft (OD) facility against your deposit for up to 90% of the value.

• Premature Withdrawal: In case of emergency, premature closure of the FD account is allowed, though a nominal penalty will be applicable as per bank norms.

• Ultimate Safety: Being a major public sector undertaking (PSU), your principal investment is incredibly safe. Furthermore, deposits up to ₹5 Lakh are fully insured under the DICGC (a wholly-owned subsidiary of the RBI).

• Instant Digital Account Opening: You don't need to stand in long queues. Existing customers can open this special 444 days FD within 2 minutes via Canara Bank Net Banking or the Canara AI1 mobile application. Offline application via physical branches is also available.

Understanding the Tax Rules (TDS on Bank FD)

Before investing, it is essential to keep tax implications in mind. If the total interest earned across all your FDs in a single financial year exceeds ₹40,000 for regular citizens or ₹50,000 for senior citizens, the bank is legally required to deduct TDS (Tax Deducted at Source).

If your overall annual income falls below the taxable slab, you can prevent this TDS deduction by submitting Form 15G (for regular individuals) or Form 15H (for senior citizens) at the beginning of the financial year.

Final Verdict: Should You Invest?

If you have surplus funds that you can comfortably put aside for the next 14 to 15 months (444 days), escaping market volatility to lock in a guaranteed 6.50% to 7.10% return is a highly sensible strategy. For senior citizens especially, this scheme stands out as a highly reliable, risk-free tool to generate steady passive income on their life savings.