SBI Green Rupee Term Deposit: State Bank of India (SBI), the country’s largest government bank, is offering a term deposit. To promote environmental protection, a new special fixed deposit scheme is offering. The name of this scheme is SBI Green Rupee Term Deposit (SGRTD). The purpose of this scheme is to raise money for environmentally friendly (green) projects and invest in them.
Who can make SBI Green Rupee Term Deposit Investment?
Indian citizens, NRIs and NROs (NRO) account holders can invest in this scheme.
How long will you invest?
SBI is offering this scheme for three different periods.
How to apply?
Initially, this scheme can be benefited through the bank branch.
Soon it will also be linked to the Yono app (Yono), internet banking and mobile banking.
How much interest will be received on this scheme?
This green FD of SBI is being given a slightly less interest than normal fixed deposits.
1,111 days – 6.65% annual interest
1,777 days – 6.65% annual interest
2,222 days – 6.40% annual interest
Senior citizens will get more benefit
Senior Citizens will get higher interest rates under this scheme.
Existing SBI employees and senior citizens employees will get additional interest benefit.
However, NRI Senior Citizen and NRI employees will not be eligible for this additional interest.
Loan and overdraft facility
Investors in this scheme will get the facility of loan and overdraft.
This feature is usually available on other fixed deposits.
What will happen to TDS?
This scheme will also apply to TDS (Tax deduction at source) as per the Income Tax Rules.
Investors may need to fill the form 15G or 15H as per their income tax plan.
Why is SBI Green Rupee Term Deposit special?
This fixed deposit will support projects related to environmental protection.
Investing for a fixed period in it, there will be guaranteed returns.
SBI is giving customers a simple and safe investment opportunity.
If you want low risk and fixed returns, this scheme can be a good option for you.