SBI launches special fixed deposit (FD) scheme: Ten things to know about SBI Green Rupee Term Deposit (SGRTD)
State Bank of India (SBI), the country’s largest Bank has launched a special fixed deposit (FD) scheme. SBI Green Rupee Term Deposit (SGRTD) has been launched to mobilise funds to support environment-friendly initiatives and projects, thereby fostering the growth of a green finance ecosystem in India, as per the release shared by the bank
“We are happy to launch the SBI Green Rupee Term Deposit Scheme, a testament to our commitment to sustainable finance. By offering this innovative product, we stride towards fulfilling the ambitious goal of the Government of India of making our nation net carbon zero by 2070, fostering a greener and environmentally responsible financial future for all," said Dinesh Khara, Chairman, SBI.
SBI Green Rupee Term Deposit scheme is open to resident individuals, non-individuals, and NRI customers.
SGRTD offers investors the flexibility to choose from three distinct tenors: 1111 days, 1777 days, and 2222 days.
Currently, 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).
According to the SBI's website, SGRTD will offer 10 basis points (bps) interest rates below the card rate for retail and bulk Deposits for respective tenor.
1111 Days- 6.65 %
1777 Days- 6.65 %
2222 Days- 6.40 %
1111 Days- 6.15 %
1777 Days- 6.15 %
2222 Days- 5.90 %
Senior Citizens/ Staff/ Staff Senior Citizens are eligible for an additional interest rate over the applicable rate for the public. (NRI Senior Citizens / NRI Staff not eligible).
Pre-mature withdrawal allowed
As applicable for term deposit/ special term deposit
Loan/ overdraft facility available against the deposit
TDS is applicable as per income tax
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