SBI Green Rupee Term Deposit- Any Indian, non-individuals and non-resident Indians can invest in SBI Green Rupee Term Deposit.
New Delhi. The country’s largest bank, State Bank of India (SBI) launched a new fixed deposit scheme, Green Rupee Term Deposit. Along with Indian citizens, NRIs can also invest money in this scheme of SBI. Investors can invest money in Green Rupee Term Deposit for three different tenures – 1,111 days, 1,777 days and 2,222 days. The bank will use the money invested in this scheme to invest in projects of environmental interest. These projects include renewable energy, energy efficient, water conservation and pollution control etc.
SBI Chairman Dinesh Khara said that the government has set an ambitious target of making India a net carbon zero nation by 2070. To fulfill this, SBI has introduced Green Rupee Term Deposit. This is a step taken to promote an environmentally responsible financial future. Khara said that currently the scheme is available through the branch network and soon it will also be available on digital mediums like ‘YONO’ App and online banking.
Who can invest money?
Any Indian, non-individuals and non-resident Indians can invest in SBI Green Rupee Term Deposit. The tenure of this scheme is 1111 days, 1777 days and 2222 days. The investor can choose any one of these periods.
How much interest will you get?
General customers who invest money in SBI Green Rupee Term Deposit for 1111 days and 1777 will be given 6.65 percent annual interest. At the same time, customers who invest money for 2222 days will be given 6.40 percent interest. The bank will give additional interest to senior citizens. If you invest money on bulk deposits for 1111 days and 1777 days, you will get 6.15 percent annual interest and if you invest money for 2222 days, you will get 5.90 percent annual interest.
Pre-withdrawal facility will be available
Investors will get the facility of pre-mature withdrawal in SBI Green Rupee Term Deposit. This means that you can withdraw the money invested in this FD even before the completion of the maturity period. Not only this, the bank will also provide loan and overdraft facility on this FD. TDS will also be applicable on this scheme as per income tax rules.
