State Bank Of India launched a new FD scheme. It announced the Green Rupee Term Deposit (SGRTD) for its customers and the environment. The main aim of the FD is to contribute money for environment-friendly initiatives. SBI Green Rupee Term Deposit is getting space in the headlines because of its benefits. The bank will support the government’s vision to make India Net Carbon Zero by 2070. There is a curiosity among the customers to know more about the FD’s rules. We will share details about State Bank Of India’s special FD below.
SBI Green Rupee Term Deposit FD Scheme Eligibility, Interest Rate, Tenors, And More:
SBI Bank is one of the largest public banks in India. It has launched a special type of FD for its customers. It is known as the SBI Green Rupee Term Deposit Scheme. The FD connects with the aim of the Government of India to make the country net carbon zero by 2070. The bank will utilize the funds for taking environment-friendly initiatives. It has some important key points to remember. Let us discuss some important features of the SBI SGRTD below.
All the resident individuals, non-individuals, and the NRI are eligible for the scheme. It has three tenors. They are 1111 days, 1777 days, and 2222 days. You can choose any one of them for the deposits. One can invest in this FD by visiting the SBI’s branch. However, other options like YONO and Internet Banking Services will be available soon. The interest rates will vary for the different categories of depositors.
SBI will offer a loan facility against the deposit as well. You can choose to keep the FD’s amount as a security against your loan. It will also have TDS charges. It will go according to the income tax rules. Apart from that, you also have the option to withdraw the FD amount before maturity. It will be beneficial in case of an emergency. However, it will follow the maturity rules and instructions as in the other deposits. The interest rates are as follows:
Retail Deposits Tenors with Interest rate
- 1111 days: 6.65%
- 1777 days: 6.65%
- 2222 days: 6.40%
Lumsum Deposit Tenors with Interest rate
- 1111 Days: 6.15%
- 1777 Days: 6.15%
- 2222 Days: 5.90%
You will have some extra benefits in certain cases. All the senior citizens, staff, and staff senior citizens will get additional interest rates. However, it is not applicable for NRI’s. You can visit your nearest SBI branch for more details about the scheme. It is beneficial for our environment as well. We hope you get enough details about SBI’s Green Rupee Term Deposit above.