SBI vs BoB Fixed Deposits Update: Many government banks are offering good returns on deposits. However, if you are confused about where to invest, we will help you decide. Currently, the State Bank of India (SBI) and Bank of Baroda (BoB) are providing Green Fixed Deposit facilities to customers. Before investing, it is important to check the latest interest rates.SBI is offering Green Rupee Term Deposit to its customers and Bank of Baroda is offering Earth Green Term Deposit. Let’s explore where you will get more benefits.

SBI Green Term Deposit Scheme

Senior citizens can benefit from higher interest rates in the SBI Green Deposit Scheme. They receive an interest rate of 7.15% on deposits of 1111 days and 1777 days and 7.40% on deposits of 2222 days. For general citizens, the interest rate is 6.65% for FDs of 1111 days and 1777 days, and 6.40% for deposits maturing in 2222 days.

Who can benefit from the scheme?

Residents, non-individuals, and NRI customers can all invest in this special deposit scheme. It is available through the branch network, but not yet on digital platforms like Yono or Internet Banking. It is expected to be available online soon.

Bank of Baroda Earth Green Term Deposit

Bank of Baroda offers the Earth Green Term Deposit, designed to raise funds for environmental initiatives. The scheme is available for amounts ranging from Rs 5,000 to less than Rs 2 crore. Customers can earn the following interest rates:

  • 6.75% for 1-year deposits
  • 6.75% for 18-month deposits
  • 7.17% for 777-day deposits
  • 6.4% for 1111, 1717, and 2201-day deposits.

Which is better for middle-class people?

If you’re a middle-class individual looking for competitive interest rates on a shorter tenure, Bank of Baroda Earth Green Term Deposit might be a better option, especially if you’re interested in supporting environmental initiatives. However, if you are a senior citizen or prefer a long-term investment with higher returns, SBI Green Term Deposit may offer better benefits. Always choose based on your financial goals, preferred investment duration, and accessibility options.

SBI Green Term Deposit

  • Suitable for those who prefer long-term investments (1111 to 2222 days).
  • Senior citizens get higher interest rates (up to 7.40%).
  • Limited availability as it is not yet accessible through digital platforms.

Bank of Baroda Earth Green Term Deposit

  1. More flexible options, with deposits starting from Rs 5,000.
  2. Offers competitive interest rates, with 7.17% for 777 days.
  3. Suitable for those looking for medium-term investment options.

Disclaimer: The information provided in this article is for general knowledge and financial awareness only. Interest rates and terms may change over time, so it is advisable to check with the respective banks before making any investment. Times Bull is not responsible for any financial investments made, as it is entirely your responsibility. Please consult a financial advisor for better results.