SBI Green Deposit 1777 Days vs Canara Bank 5-year FD Calculator: What will be maturity amount for general and senior citizens on Rs 6 lakh and Rs 12 lakh investments?

SBI Green Deposit 1777 vs Canara Bank 5-year FD: Fixed deposit investments are non-market-linked. Investors with a low-risk appetite and those who want guaranteed returns on their investments invest in FDs. They make a one-time investment and get returns on that. They can withdraw this interest at the maturity period, or monthly, quarterly, or yearly. In the second case, they need to inform the bank at the time of investing in FDs. Banks offer extra interest rates to senior citizens compared to what they offer to general citizens. The duration of FDs can be from 7 days to 10 years. FDs which have a maturity period of 5 years and over provide tax benefits on deposits up to Rs 1.50 lakh in a financial year under Section 80C of the Income Tax Act, 1961.
Banks issue special FDs for a limited period. These special FDs can be callable and non-callable. Most special FDs offer extra interest rates to investors compared to their traditional FDs.
State Bank of India (SBI) runs Green Rupee Term Deposit as one of its special FDs. While Canara Bank offers a 5-year scheme among its various FDs. In this write-up, know about the interest rates that both banks are offering to general and senior citizens in their respective FDs, and what will be the maturity amount for them on investments of Rs 6 lakh and Rs 12 lakh, respectively.
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