India’s largest public sector bank, SBI, is taking steps to support environmental protection. To promote this, the bank has launched a special fixed deposit scheme called SBI Green Rupee Term Deposit (SGRTD). According to SBI, the goal of this scheme is to raise funds for eco-friendly projects and invest in them. Let’s find out what SGRTD is and how you can benefit from it.

Who Can Join?

The SBI Green Rupee Term Deposit (SGRTD) is available for Indian citizens as well as NRI and NRO account holders. The scheme offers different tenures with varying interest rates based on the chosen tenure.

What is the Deposit Amount?

The minimum deposit amount for this scheme is ₹1,000. There is no maximum limit, meaning you can invest as much as you want.

What are the Available Tenures?

SBI Green Rupee Term Deposit is available for three different tenures:

  • 1,111 days
  • 1,777 days
  • 2,222 days

How Much Interest Will You Earn?

For 1,111 days:

  • General citizens: 6.65% p.a.
  • Senior citizens: 7.15% p.a.

For 1,777 days:

  • General citizens: 6.65% p.a.
  • Senior citizens: 7.15% p.a.

For 2,222 days:

  • General citizens: 6.40% p.a.
  • Senior citizens: 7.40% p.a.

Loan/Overdraft Facility

Investors in this scheme can avail themselves of loan and overdraft facilities. Additionally, Tax Deducted at Source (TDS) will be applicable as per income tax rules.

Disclaimer:

The information provided in this article is for informational purposes only. Please consult with a financial advisor or the concerned bank for personalized advice before making any investment decisions. Interest rates and terms are subject to change based on the bank’s policies. The bank’s terms and conditions apply.