Green Deposit FD: Special fixed deposits are available for a short period. Investors have the option to invest a one-time sum and withdraw upon maturity. Special FDs may be classified as callable or non-callable. The length of the special FD can range from several days to over 5 years. Banks frequently provide elevated interest rates in special fixed deposits relative to those available in conventional fixed deposits. Both State Bank of India (SBI) and Canara Bank provide Green Deposit FDs. These FDs allocate funds to eco-friendly initiatives and offer lasting advantages to their investors through interest.
Green deposit FDs from SBI and Canara Bank
Learn about the green deposit FDs from SBI and Canara Bank, their interest rates for both regular and senior citizens, and the maturity amounts for investments of Rs 5 lakh and Rs 10 lakh. SBI offers 3 unique FDs under this scheme, with tenures of 1,111 days, 1,777 days, and 2,222 days, respectively.
In the retail sector, the FD provides an interest rate of 6.65 percent to the general public. Elderly individuals receive a 7.15 percent interest rate on the exclusive SBI FD. Canara Bank provides special FD options for 1,111 days, 2,222 days, and 3,333 days through this program.
The bank provides a 6.70 percent interest rate to the public on its special fixed deposit for 1,111 days. It provides a 7.20 percent interest rate for senior citizens in the same fixed deposit. With an interest rate of 6.65 percent, the projected interest will amount to Rs 1,11,160.13, while the expected maturity sum will be Rs 6,11,160.13.
Regular citizens will receive approximately Rs 2,22,320.27 in interest and an estimated Rs 12,22,320.27 upon maturity. With an interest rate of 7.15 percent, senior citizens can expect to receive approximately Rs 1,20,372.50 in interest and around Rs 6,20,372.50 at maturity. With an interest rate of 6.70 percent, the projected interest on an investment of Rs 5 lakh will amount to Rs 1,12,075.69.