What is the interest rate for SBI Green Rupee Term Deposit?
SBI has launched SBI Green Rupee Term Deposit in an effort to raise cash for funding green activities and projects, as well as to expand the country's green finance ecosystem.What is Green Deposit
According to the ICICI Bank website, “These aren't just your typical financial instruments; they're a commitment towards safeguarding the environment, offering investors a unique blend of fiscal security and ethical investing.”All About Tax-Saving
Investors put their money in a bank account so that it can earn interest throughout that time. But in terms of their operational purpose, Green Deposits go above and beyond. The funds obtained in this manner are allocated to ecologically sustainable initiatives.
Resident Individuals, Non- Individual and NRI Customers can invest in this special deposit. The bank allows pre-mature withdrawal under the scheme. Maturity instructions is as applicable for term deposit and special deposits. Investors can also avail loan or overdraft facility available against the Deposit. Like any other term deposits, TDS is applicable as per Income Tax Rules.
SBI launches green rupee fixed deposit (FD): Who can invest, interest rate, how to buy
SBI Green Rupee Term Deposit (SGRTD): Rate of Interest
The bank offers three tenures of 1111 Days, 1777 Days and 2222 Days and interest rate varies if the investment is made under retail scheme or bulk deposit scheme.SBI Green Rupee Term Deposit (SGRTD) interest rate for general public
Under the scheme, the bank offers 6.65% on tenure of 1111 Days, 1777 Days. For 2222 Days tenure, the bank offers 6.40% on retail term deposits.
On bulk deposit (above Rs 2 crore), the bank offers 6.15% on tenure of 1111 Days, 1777 Days. For 2222 Days tenure, the bank offers 5.90%.
SBI Green Rupee Term Deposit (SGRTD) interest rate for senior citizens
Under the scheme, the bank offers 7.15% on tenure of 1111 Days, 1777 Days. For 2222 Days tenure, the bank offers 7.40% on retail term deposits.
On bulk deposit (above Rs 2 crore), the bank offers 6.65% on tenure of 1111 Days, 1777 Days. For 2222 Days tenure, the bank offers 6.40%.
RetailBulkTenorsGen. PublicSr CitizenGen. PublicSr Citizen1111 Days6.65%7.15%6.15%6.65%1777 Days6.65%7.15%6.15%6.65%2222 Days6.40%7.40%5.90%6.40%
Latest SBI FD interest rates
General PublicSenior CitizenTenorsRevised Rates for Public w.e.f. 27/12/2023Revised Rates for Senior Citizen w.e.f. 27/12/20237 days to 45 days3.5446 days to 179 days4.755.25180 days to 210 days5.756.25211 days to less than 1 year66.51 Year to less than 2 years6.87.32 years to less than 3 years77.53 years to less than 5 years6.757.255 years and up to 10 years6.57.50*Connect with Experts - Wealth creation made easy
This story originally appeared on: India Times - Author:Faqs of Insurances
