SBI launches green rupee fixed deposit (FD): Who can invest, interest rate, how to buy

economictimes.indiatimes.com:

Who is eligible to invest in SBI Green Rupee Term Deposit

Residents, Non-Individuals, and NRI Customers are all eligible to invest in this special deposit plan.

According to the SBI press release, “This innovative product underscores SBI's commitment to promote sustainable finance and encouraging contributions towards green activities, providing opportunities for individuals and entities to support country’s vision to a sustainable future for all .”

SBI Green Rupee Term Deposit (SGRTD) details: How to invest and tenure

As per the SBI press release, SGRTD offers investors the flexibility to choose from three distinct tenors: 1111 days, 1777 days, and 2222 days. The scheme is available through the branch network, and it will soon be made available through other digital channels such as YONO and Internet Banking Services (INB).

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SBI Green Rupee Term Deposit (SGRTD) interest rate

According to an SBI spokesperson, the interest rate on SBI Green Rupee Term Deposit (SGRTD) will be 10 bps lower than the card rate for the general public.

SBI latest FD interest rates

What is Green deposit

According to the RBI notification dated April 11, 2023, “green deposit” means an interest-bearing deposit, received by the regulated entities (RE) for a fixed period and the proceeds of which are earmarked for being allocated towards green finance.”
REs are required to issue