SBI vs Bank of Baroda green fixed deposits (FDs): Check tenure, interest rate, and other details here
SBI vs Bank of Baroda green fixed deposits (FDs): State Bank of India (SBI), and Bank of Baroda (BoB) have launched a special fixed deposit (FD) scheme to mobilise funds to support environment-friendly initiatives and projects.
A green deposit refers to an interest-bearing deposit received by regulated entities for a specified duration, with the funds designated for allocation towards green finance per the RBI's notification dated April 11, 2023.
The RBI recently published a document providing comprehensive responses to a series of inquiries that investors may have regarding green deposits.
Bank of Baroda has introduced the BOB Earth Green Term Deposit Scheme Both existing and new customers can open a Green Deposit at any Bank of Baroda branch in India.
Currently, SBI Green Rupee Term Deposit (SGRTD) 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).
SGRTD offers investors the flexibility to choose from three distinct tenors: 1111 days, 1777 days, and 2222 days.
Under the bob Earth Green Term Deposit Scheme, the Bank of Baroda has introduced some innovative tenures such as a tenure of 1 year, 1.5 years, 1111 days, Tenure 1717 days, and 2201 days.
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 %
1 year i.e. 12 months 6.75
1.5 years i.e. 18 Months 6.75
777 days 7.15
1111 days 6.40
1717 days 6.40
2201 days 6.40
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