Canara Bank Green Deposit vs SBI 1111-day FD: What will be maturity amounts on Rs 5 lakh, Rs 10 lakh investments for senior citizens, other depositors?
SBI Green Deposit 1111 Days FD vs Canara Bank Green Deposit 1111 Days FD: State Bank of India (SBI) and Canara Bank both have special FDs of 1,111 days. They offer a higher interest rate to senior citizens compared to what they offer to general citizens.
SBI Green Deposit 1111 Days FD vs Canara Bank Green Deposit 1111 Days FD: Special FDs are for a limited duration. Investors can invest a lump sum amount and withdraw on maturity. Special FDs can be callable and non-callable. The duration of the special FD can be from a few days to more than 5 years. Banks often offer higher interest rates in special FDs compared to what they offer in traditional FDs. State Bank of India (SBI) and Canara Bank both offer Green Deposit FDs. These FDs invest in green projects and provide long-term benefits to their investors in the form of interest. Know more about SBI and Canara Bank green deposit FDs, interest rates that they offer to general and senior citizens, and what they will get in maturity if they invest Rs 5 lakh and Rs 10 lakh.
Photos: Unsplash/Pixabay
SBI Green Rupee Term Deposit
SBI runs 3 special FD under this scheme- the tenures of which are 1,111 days, 1,777 days, and 2,222 days, respectively.
SBI Green Rupee Term Deposit: Interest rate of 1,111 days FD for general citizens
In the retail category, the FD offers 6.65 per cent interest rate to general citizens. (Source: SBI official website)
SBI Green Rupee Term Deposit: Interest rate of 1,111 days FD for senior citizens
Senior citizens get 7.15 per cent interest rate in the special SBI FD.
Canara Bank Green Deposit FD
Canara Bank offers 1,111 days, 2,222 days, and 3,333 days of special FD under this scheme.
Canara Bank Green Deposit FD: Interest rate of 1,111 days FD for general citizens
The bank offers 6.70 per cent interest rate to general citizens on its 1,111-day special FD. (Source: Canara Bank official website)
Canara Bank Green Deposit FD: Interest rate of 1,111 days FD for senior citizens
It offers 7.20 per cent interest rate to senior citizens in the same FD.
SBI Green Rupee Term Deposit: Maturity for general citizens on Rs 5 lakh deposit
At 6.65 per cent interest rate, the estimated interest will be Rs 1,11,160.13, and the estimated maturity amount will be Rs 6,11,160.13.
SBI Green Rupee Term Deposit: Maturity for general citizens on Rs 10 lakh deposit
General citizens will get estimated Rs 2,22,320.27 in interest and estimated Rs 12,22,320.27 in maturity.
SBI Green Rupee Term Deposit: Maturity for senior citizens on Rs 5 lakh deposit
At 7.15 per cent interest rate, senior citizens will get estimated Rs 1,20,372.50 in interest and estimated Rs 6,20,372.50 in maturity.
SBI Green Rupee Term Deposit: Maturity for senior citizens on Rs 10 lakh deposit
On investing Rs 10 lakh, they will get estimated Rs 2,40,745.01 in interest and estimated Rs 12,40,745.01 in maturity.
Canara Bank Green Deposit FD: Maturity for general citizens on Rs 5 lakh deposit
At 6.70 per cent interest rate, the estimated interest on a Rs 5 lakh investment will be Rs 1,12,075.69 and the estimated maturity will be Rs 6,12,075.69.
Canara Bank Green Deposit FD: Maturity for general citizens on Rs 10 lakh deposit
The estimated interest in this case will be Rs 2,24,151.38, while the estimated maturity amount will be Rs 12,24,151.38.
Canara Bank Green Deposit FD: Maturity for senior citizens on Rs 5 lakh deposit
At 7.20 per cent interest rate, senior citizens will get estimated Rs 1,21,300.72 in interest and estimated Rs 6,21,300.72 in maturity.
Canara Bank Green Deposit FD: Maturity for senior citizens on Rs 10 lakh deposit
A Rs 10 lakh investment will give senior citizens estimated Rs 2,42,601.43 in interest and estimated Rs 12,42,601.43 in maturity.