SBI 2222 Days Green Deposit FD vs Canara Bank 2222 Days Green Deposit FD: Where Rs 6 lakh and Rs 12 lakh investments will grow faster for general and senior citizens; know here

SBI 2222 Days FD vs Canara Bank 2222 Days FD Calculator: Special fixed deposit (FD) schemes are guaranteed return schemes like any other FD, but they are for a specific period and often provide higher interest rates to general and senior citizens than what standard FDs offer. Special FDs can be callable or non-callable. Investors can invest for a specific period and get maturity on the completion of the FD.

Here, we will discuss the SBI 2222 Days Green Term Deposit FD and the Canara Bank 2222 Days Green Deposit FD.

Both are special FDs focused on investing in environmentally friendly initiatives and projects.

We will also tell what Rs 6 lakh and Rs 12 lakh investments will bring to general and senior citizens on the maturity of schemes.

SBI Green Rupee Term Deposit (SGRTD)

On its official website, SBI says that SBI Green Rupee Term Deposit has been introduced to mobilise deposits to support the bank in financing green initiatives. The minimum deposit amount in the scheme is Rs 1,000.

SBI Green Rupee Term Deposit: Total schemes

The special FD features 3 schemes: 1111 Days, 1777 Days, and 2222 Days.

SBI Green Rupee Term Deposit: Interest rate for general citizens 

General citizens get 6.65 per cent interest each in its 1111-day and 1777-day FDs. The interest rate for them in the 2222-day FD is 6.40 per cent.

SBI Green Rupee Term Deposit: Interest rate for senior citizens 

Senior citizens, on the other hand, get 7.15 per cent interest rate each in its 1111-day and 1777-day FD. The interest rate in its 2222-day FD is 7.40 per cent.

SBI Green Rupee Term Deposit: Other features 

Pre-mature withdrawal

Overdraft/demand loan/facility available

Transfer of account to other SBI branch

Nomination facility available

Canara Bank Green Deposit FD

On its official website, Canara Bank says that in its green deposit FDs, funds are earmarked for green financing, including renewable energy projects, sustainable infrastructure development, eco-friendly businesses, and more. Thus, investment not only earns returns but also contributes to building a greener, more sustainable world.

Canara Bank Green Deposit FD: Total schemes

The bank provides 1111 days, 2222 days, and 3333 days FDs under its Green Deposit scheme.

Canara Bank Green Deposit FD: Interest rates for general citizens

The interest rate in its 1111-day FD is 6.70 per cent, while the bank is offering 6.65 per cent interest in its 2222-day and 3333-day FDs (source: Paisabazaar.com).

Canara Bank Green Deposit FD: Interest rates for senior citizens

The interest rate in its 1111-day FD is 7.20 per cent, while the bank is offering 7.15 per cent interest in its 2222-day and 3333-day FDs.

Canara Bank Green Deposit FD: Minimum and maximum investment 

For callable FDs, the minimum deposit is Rs 1,000, while for non-callable FDs, the minimum deposit is Rs 3,00,00,000. There is no maximum investment in the scheme. 

Canara Bank Green Deposit FD: Other features

Loan facility 

Nomination facility

SBI Green Rupee Term Deposit 2222 Day FD: Maturity on Rs 6 lakh investment for general citizens

The estimated interest on this investment will be Rs 2,83,116.02, while the estimated maturity will be Rs 8,83,116.02.

SBI Green Rupee Term Deposit 2222 Day FD: Maturity on Rs 12 lakh investment for general citizens

The estimated return on this investment will be Rs 5,66,232.03, while the estimated maturity will be Rs 17,66,232.03.

SBI Green Rupee Term Deposit 2222 Day FD: Maturity on Rs 6 lakh investment for senior citizens

The estimated interest on a Rs 6 lakh investment will be Rs 3,37,578.99, while senior citizens will get estimated maturity amount of Rs 9,37,578.99.

SBI Green Rupee Term Deposit 2222 Day FD: Maturity on Rs 12 lakh investment for senior citizens

Senior citizens get will get estimated interest of Rs 6,75,157.97, and the estimated maturity of Rs 18,75,157.97.

Canara Bank Green Deposit FD: Maturity on Rs 6 lakh investment for general citizens 

The estimated interest on a Rs 6 lakh investment will be Rs 2,96,440.10, while the estimated maturity will be Rs 8,96,440.10.

Canara Bank Green Deposit FD: Maturity on Rs 12 lakh investment for general citizens

The estimated return on this investment will be Rs 5,92,880.21, while the estimated maturity will be Rs 17,92,880.21.

Canara Bank Green Deposit FD: Maturity on Rs 6 lakh investment for senior citizens 

Senior citizens will get estimated interest of Rs 323668.91, and the estimated maturity amount of Rs 9,23,668.91.

Canara Bank Green Deposit FD: Maturity on Rs 12 lakh investment for senior citizens

The estimated interest on a Rs 12 lakh investment will be Rs 6,47,337.81, and the estimated maturity of Rs 18,47,337.81.