SBI Green Rupee Deposit 2222 Days vs Canara Bank Green Deposit 2222 Days FD: What Rs 7 lakh and Rs 15 lakh investments will give to general and senior citizens; know here
SBI Green Rupee Term Deposit 2222 Days vs Canara Bank Green Deposit 2222 Days FD: State Bank of India (SBI) and Canara Bank offer special FDs for long-term investors where they can invest one time and withdraw on maturity. SBI Green Deposit and Canara Bank Green Deposit FDs invest in green projects and related activities.
SBI Green Rupee Term Deposit 2222 vs Canara Bank Green Deposit 2222 Days FD: Special fixed deposit (FD) schemes attract investors since they provide slightly higher interest rates compared to what traditional FDs of the same bank provide. Special FDs are launched for a limited duration, but banks extend the deadline depending on investor interest. In most special FDs, investors can invest one time and withdraw the amount on maturity. However, few banks offer special FDs, where investors can withdraw prematurely. State Bank of India (SBI) and Canara Bank offer a 2,222-day FD under the name of the green deposit FD. Investments in these FDs are invested in green projects and related activities. Long-term investors can invest in these FDs whose duration is over 6 years and 1 month each. Know the interest rates these FDs are offering to general and senior citizens and how Rs 7 lakh and Rs 15 lakh investments in each of them can provide on maturity.
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SBI Green Rupee Term Deposit FD
The bank offers FDs of 3 durations under the green deposit scheme- 1,111-day, 1,777-day, and 2,222-day. The interest rates for 1,111-day and 1,777-day FDs are the same, while the 2,222-day FD offers different interest rates than these. All 3 FDs provide the facilities of loan against FD and the premature withdrawal.
SBI Green Rupee Term Deposit FD: Interest rate for general citizens
The interest rate for general citizens is 6.40 per cent.
SBI Green Rupee Term Deposit FD: Interest rate for senior citizens
Senior citizens get 7.40 per cent interest under the scheme.
Canara Bank Green Deposit FD
The PSU bank also offers 3 FDs under the green deposit scheme. The durations of such schemes are 1,111 days, 2,222 days, and 3,333 days, respectively. The scheme comes under callable and non-callable deposit options. For our FD calculations, we will calculate as per the callable option only.
Canara Bank Green Deposit FD: 2,222-day FD interest rate for general citizens
The interest rate for general citizens under the callable option is 6.65 per cent.
Canara Bank Green Deposit FD: 2,222-day FD interest rate for senior citizens
Senior citizens get a 7.15 per cent interest rate in the same category.
SBI Green Rupee Term Deposit FD: Maturity for general citizens on Rs 7 lakh investment
The estimated interest on a Rs 7 lakh investment will be Rs 3,30,302.02, and the estimated maturity amount will be Rs 10,30,302.02.
SBI Green Rupee Term Deposit FD: Maturity for general citizens on Rs 15 lakh investment
On investing Rs 15 lakh, general citizens will get an estimated interest of Rs 7,07,790.04 and the estimated maturity of Rs 22,07,790.04.
SBI Green Rupee Term Deposit FD: Maturity for senior citizens on Rs 7 lakh investment
The estimated interest on investing Rs 7 lakh for senior citizens will be Rs 3,93,842.15, while they will get an estimated maturity of Rs 10,93,842.15.
SBI Green Rupee Term Deposit FD: Maturity for senior citizens on Rs 15 lakh investment
On an investment of Rs 15 lakh, senior citizens will get an estimated interest of Rs 8,43,947.46 and the estimated maturity of Rs 23,43,947.46.
Canara Bank Green Deposit FD: Maturity for general citizens on Rs 7 lakh investment
The bank will provide estimated interest of Rs 3,45,846.79 and the estimated maturity of Rs 10,45,846.79 on investing Rs 7 lakh.
Canara Bank Green Deposit FD: Maturity for general citizens on Rs 15 lakh investment
On investing Rs 15 lakh in the green deposit FD, general citizens will get estimated interest of Rs 7,41,100.26 in interest and an estimated Rs 22,41,100.26 in maturity.
Canara Bank Green Deposit FD: Maturity for senior citizens on Rs 7 lakh investment
Senior citizens will get an estimated Rs 3,77,613.73 in interest and an estimated Rs 10,77,613.73 in maturity.
Canara Bank Green Deposit FD: Maturity for senior citizens on Rs 15 lakh investment
The estimated interest on investing Rs 15 lakh will be Rs 8,09,172.27, and the estimated maturity will be Rs 23,09,172.27.