SBI 10 year FD vs Canara Bank Green Deposit 3333 Days FD: Fixed deposit (FD) schemes offer various options where an investor can invest for 7 days up to 10 years. Banks also offer special FDs, where investors usually get more interest rates compared to other FDs of the same bank. FDs provide guaranteed returns and are not linked to the market, so they may be well suited for investors with a low risk appetite.
Different maturities mean that investors can invest until the time they need the money.
They can get it on maturity, but FDs also offer interest withdrawal options on monthly, quarterly, and half-yearly basis.
Senior citizens often invest in FDs to get a regular, fixed income, as it helps them meet their monthly expenses.
Another reason why they find FDs attractive is that banks offer more interest to them as compared to general citizens.
SBI offers FDs of 1 year, 3 years, 5 years, and 10 years besides many special FDs.
On the other hand, Canara Bank also operates a special Green Deposit FD, which lasts for 3,333 days, or more than 9 years.
The same FD from Canara Bank is also available in 1111 days and 2222 days duration.
In this write-up, we will tell you about the interest rates on SBI 10 year FD and Canara Bank 3333 Days FD for general and senior citizens.
Also, know that an investment of Rs 10 lakh and Rs 15 lakh will be given to ordinary citizens and senior citizens in each of these FDs.
SBI 10 year FD: Interest rate for common citizens
The interest rate for general citizens is 6.50 percent on 10-year FD. (Data source: SBI official website)
SBI 10-year FD: Interest rate for adults
Seniors get 7.50 percent interest on the same FD.
Canara Bank Green Deposit 3333 Days: Interest rate for general citizens
The general interest rate for citizens is 6.65 percent. The same rate applies to its 2,222-day FD, while the rate on its 1,111-day FD is 6.70 percent.
Canara Bank Green Deposit 3333 Days: Interest rate for adults
Seniors get 7.15 percent interest on FD for 3333 days.
SBI 10 year FD: Maturity value for common citizens on investment of Rs 10 lakh
The estimated interest on an investment of Rs 10 lakh is Rs 9,05,558.75, and the estimated maturity is Rs 19,05,558.75.
SBI 10 year FD: Maturity value for common citizens on investment of Rs 15 lakh
They will receive an estimated interest of Rs 13,58,338.13, and an estimated maturity of Rs 28,58,338.13.
SBI 10 year FD: Maturity value for seniors on investment of Rs 10 lakh
The estimated interest on an investment of Rs 10 lakh will be Rs 11,02,349.28, and the estimated maturity will be Rs 21,02,349.28.
SBI 10-year FD: Maturity value for adults on investment of Rs 15 lakh
The estimated interest on an investment of Rs 15 lakh will be Rs 16,53,523.92, and the estimated maturity will be Rs 31,53,523.92
Canara Bank green deposit 3333 days: Maturity value for ordinary citizens on an investment of Rs 10 lakh
The estimated interest on an investment of Rs 10 lakh will be Rs 8,26,228.18 and the estimated maturity will be Rs 18,26,228.18.
Canara Bank green deposit 3333 days: Maturity value for ordinary citizens on an investment of Rs 15 lakh
For an investment of Rs 15 lakh, general citizens will get an average interest of Rs 12,39,342.27 and an average maturity of Rs 27,39,342.27.
Canara Bank Green Deposit 3333 Days: Maturity value for senior citizens on an investment of Rs 10 lakh
Senior citizens will get a nominal interest of Rs 9,10,062.64 and a nominal maturity of Rs 19,10,062.64 on an investment of Rs 10 lakh.
Canara Bank Green Deposit 3333 Days: Maturity value for senior citizens on investment of Rs 15 lakh
After investing Rs 15 lakh, senior citizens will get a nominal interest of Rs 13,65,093.97 and a nominal maturity of Rs 28,65,093.97.