State Bank of India (SBI) has introduced SBI Green Rupee Term Deposit (SGRTD) scheme to mobilise funds to support environment friendly initiatives and projects.
Key points
- This deposit scheme is open to resident individuals, non-individuals, and NRIs.
- SGRTD offers investors the flexibility to choose from three distinct tenors: 1,111 days, 1,777 days, and 2,222 days.
- 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.
- 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.
