SBI 1777-day FD vs HDFC Bank 5-year FD: Which FD can give higher return on Rs 2,50,000, Rs 5,50,000, and Rs 9,00,000 investments? Know here
SBI 1777-day FD vs HDFC Bank 5-year FD: State Bank of India (SBI) 1777-day fixed deposit scheme is a special FD, while HDFC Bank 5-year FD provides tax benefits under Section 80C of the Income Tax Act, 1961. FDs are non-market-linked investment tools where investors get guaranteed returns on one-time investments.
SBI 1777-day FD vs HDFC Bank 5-year FD: Fixed deposit (FD) is a popular non-market-linked investment option for investors seeking guaranteed returns. Here, investors can deposit a lump sum amount and withdraw interest and principal on maturity. They can also opt for monthly, quarterly, half-yearly, and yearly withdrawals, depending on their requirements and bank conditions. The duration of an FD can be from 7 days to 10 years. FDs of 5 years and above provide tax benefits under Section 80C of the Income Tax Act, 1961. Senior citizens get higher FD interest rates compared to what general citizens receive. Senior citizens also use FD investments to get a regular, monthly income post retirement. Unlike regular FDs, banks and small banks offer special FDs for a limited duration. They often provide extra interest rates in special FDs compared to regular FDs of nearly and slightly higher durations. Special FDs can be callable and non-callable. In non-callable special FDs, investors get higher interest rates than callable ones.
State Bank of India's (SBI) 1777-day fixed deposit scheme is a special FD known as Green Term Deposit, while HDFC Bank 5-year FD provides tax benefits under Section 80C.
Know what interest rate SBI is offering in the 1777-day FD and HDFC Bank in the 5-year FD to general and senior citizens. Also know what estimated maturity amounts will be for general and senior citizens on investments of Rs 2.50 lakh, Rs 5.50 lakh, and Rs 9 lakh.
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SBI 1777-day Special FD: Interest rate for general citizens
SBI 1777-day is also known as Green Rupee Term Deposit FD, which invests in environment-related projects. It also offers 1111-day and 2222-day special FDs in the same category.
The interest rate for general citizen is 6.65 per cent. (Source: SBI official website)
SBI 1777-day Special FD: Interest rate for senior citizens
Senior citizens get 7.15 per cent interest rate in the special FD.
HDFC Bank 5-year FD: Interest rate for general citizens
General citizens get a 7.00 per cent interest rate in the 5-year HDFC Bank FD. (Source: HDFC Bank official website)
HDFC Bank 5-year FD: Interest rate for senior citizens
The interest rate in the 5-year FD is 7.50 per cent.
SBI 1777-day Special FD: Maturity for general citizens on Rs 2.50 lakh investment
Interest amount: Rs 94,658.46
Maturity amount: Rs 3,44,658.46
SBI 1777-day Special FD: Maturity for general citizens on Rs 5.50 lakh investment
Interest amount: Rs 2,08,248.62
Maturity amount: Rs 7,58,248.62
SBI 1777-day Special FD: Maturity for general citizens on Rs 9 lakh investment
Interest amount: Rs 3,40,770.46
Maturity amount: Rs 12,40,770.46
SBI 1777-day Special FD: Maturity for senior citizens on Rs 2.50 lakh investment
Interest amount: Rs 1,03,005.50
Maturity amount: Rs 3,53,005.50
SBI 1777-day Special FD: Maturity for senior citizens on Rs 5.50 lakh investment
Interest amount: Rs 2,26,612.10
Maturity amount: Rs 7,76,612.10
SBI 1777-day Special FD: Maturity for senior citizens on Rs 9 lakh investment
Interest amount: Rs 3,70,819.81
Maturity amount: Rs 12,70,819.81
HDFC Bank 5-year FD: Maturity for general citizens on Rs 2.50 lakh investment
Interest amount: Rs 1,03,695
Maturity amount: Rs 3,53,695
HDFC Bank 5-year FD: Maturity for general citizens on Rs 5.50 lakh investment
Interest amount: Rs 2,28,128
Maturity amount: Rs 7,78,128
HDFC Bank 5-year FD: Maturity for general citizens on Rs 9 lakh investment
Interest amount: Rs 3,73,300
Maturity amount: Rs 12,73,300
HDFC Bank 5-year FD: Maturity for senior citizens on Rs 2.50 lakh investment
Interest amount: Rs 1,12,487
Maturity amount: Rs 3,62,487
HDFC Bank 5-year FD: Maturity for senior citizens on Rs 5.50 lakh investment
Interest amount: Rs 2,47,471
Maturity amount: Rs 7,97,471
HDFC Bank 5-year FD: Maturity for senior citizens on Rs 9 lakh investment
Interest amount: Rs 4,04,953
Maturity amount: Rs 13,04,953