SBI 1777-day FD vs HDFC Bank 55-month FD: What will be maturity amounts for general and senior citizens on Rs 6 lakh and Rs 12 lakh investments?
SBI 1777-day FD vs HDFC Bank 55-month FD: State Bank of India runs a 1,777-day fixed deposit (FD) under Green Rupee Term Deposit scheme. HDFC Bank, on the other hand, has a special FD of nearly the same duration (55 months, 4 years and 7 months). Both special FDs offer extra interest rates to senior citizens.
SBI 1777-day FD vs HDFC Bank 55-month FD: Special fixed deposit (FD) schemes are term deposit schemes like many other traditional FDs run by banks. They are for a limited duration and often offer higher interest rates compared to the traditional FDs of the same bank of nearly or above the same duration. Investors who withdraw money on maturity get the maximum output from special FDs. Banks offer them for a limited duration, but depending on the investor response, they extend the deadline to invest. Many banks have special FDs of the same duration under different names. Interest rates of such FDs may vary. Like many other banks, State Bank of India and HDFC Bank also offer special FDs for long-term investors. SBI Green Rupee Deposit has 3 FDs under its ambit. On the other hand, HDFC Bank offers its highest interest rate among all its FDs in the 55-month fixed deposit scheme.
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SBI Green Rupee Term Deposit Schemes
The bank has 3 FDs under the same scheme. The durations of FDs are 1,111 days, 1,777 days, and 2,222 days, respectively. The scheme invests money in environment-related projects.
SBI Green Rupee Term Deposit 1,777-day FD: Interest rate for general citizens
General citizens get 6.65 per cent interest rate in the 1,777-day special FD. (Source: SBI official website)
SBI Green Rupee Term Deposit 1,777-day FD: Interest rate for senior citizens
The interest rate for senior citizens in the same scheme is 7.15 per cent.
HDFC Bank 55-month FD interest rate for general citizens (source: HDFC Bank official website)
The bank offers interest rate of 7.40 per cent to general citizens.
HDFC Bank 55-month FD interest rate for senior citizens
The interest rate for senior citizens is 7.90 per cent.
SBI Green Rupee Term Deposit 1,777-day FD: Maturity for general citizens on Rs 6 lakh investment
The estimated interest for general citizens will be Rs 2,27,180.31, and the estimated maturity will be Rs 8,27,180.31.
SBI Green Rupee Term Deposit 1,777-day FD: Maturity for general citizens on Rs 12 lakh investment
The estimated return general citizens will get on Rs 12 lakh investment will be Rs 4,54,360.62, and the estimated maturity will be Rs 16,54,360.62.
SBI Green Rupee Term Deposit 1,777-day FD: Maturity for senior citizens on Rs 6 lakh investment
Senior citizens will get estimated interest of Rs 2,47,213.20, and the estimated maturity of Rs 8,47,213.20 on investing Rs 6 lakh.
SBI Green Rupee Term Deposit 1,777-day FD: Maturity for senior citizens on Rs 12 lakh investment
The estimated interest on Rs 12 lakh investment will be Rs 4,94,426.41, and the estimated maturity will be Rs 16,94,426.41.
HDFC Bank 55-month FD: Maturity for general citizens on Rs 6 lakh investment
General citizens will get estimated interest of Rs 2,39,660.12, and estimated maturity of Rs 8,39,660.12 on investing Rs 6 lakh.
HDFC Bank 55-month FD: Maturity for general citizens on Rs 12 lakh investment
The estimated interest on investing Rs 12 lakh will be Rs 4,79,320.25, and the estimated maturity will be Rs 16,79,320.25.
HDFC Bank 55-month FD: Maturity for senior citizens on Rs 6 lakh investment
Senior citizens will get estimated interest of Rs 2,58,755.12, and the estimated maturity of Rs 8,58,755.12 on investing Rs 6 lakh.
HDFC Bank 55-month FD: Maturity for senior citizens on Rs 12 lakh investment
A Rs 12 lakh investment in the 55-month scheme will give senior citizens estimated interest of Rs 5,17,510.24 and estimated maturity of Rs 17,17,510.24.