Investment methods can be chosen according to the interests of each one. Today there are many investment options like equity, mutual funds or fixed investments. These are also easy to access in the digital age. But the choice of investment should be according to one’s risk profile.
Higher returns can also be obtained from high-risk investments. Equity and mutual fund investments fall under this category. Bank deposits can be relied upon by those who expect decent returns without risk. If you want to make good savings with small investments without any risk, you can choose Canara Bank’s Dhanvarsa Investment.
Canara Dhanvarsa Investment
Canara Dhanvarsa Investment
Canara Dhanvarsha is a Flexi recurring deposit scheme. Both individual accounts and joint account can be opened. Parents can also open accounts in the name of their minor children. Participating institutions, companies, associations, and trusts can also take account in Dhanvarsha scheme.
Deposit, tenure
You can deposit between Rs.500 to Rs.1 lakh per month. An investor can invest in one or more monthly installments. You can invest in installments as many times as you like in a fixed month. The minimum tenure of Canara Dhanvarsa investment is 1 year.
Can invest in multiples of 3 months up to a maximum of 10 years. A loan of up to 90 percent is available on top of the investment. Canara Dhanvarsha plan also has the advantage of no penalty for early withdrawal or late monthly payment.
interest rate
Interest rate
The interest rate of the Canara Bank Dhanvarsha Investment Scheme is the same as the Canara Bank Term Deposit. The interest rate is between 6.25 percent to 7 percent depending on the tenure. Senior citizens will get an additional rate of 0.50 percent for deposits above 180 days. Let’s look at interest rates in detail.
interest
Recurring investment for 1 year will earn 6.25 percent interest on the general category. For senior citizens, it is 6.75 percent. The same interest rate is available for 1 year to 2 years. 7 percent for the general category and 7.50 percent for senior citizens for 666 days.
6.25 percent and 6.75 percent interest for 2 to 3 years. 6.50 percent interest for the general category and 7 percent interest for senior citizens for 3 years to 10 years.
Canara Dhanvarsha Calculator
Canara Dhanvarsha Calculator
A person who invests Rs 5,000 per month in Dhanvarsha policy for 36 months will have to invest Rs 1.80 lakh. 6.50 percent interest for the public sector for 36 months. According to this, 19,121 rupees will be received as interest. 1,99,121 will be received during the term.
The interest rate for senior citizens is 7 percent. According to this, a person who invests Rs 5,000 for 36 months will get Rs 20,686 as interest. 2,00,686 will be received during the term.
