SBI GREEN RUPEE TERM DEPOSIT

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SBI GREEN RUPEE TERM DEPOSIT (SGRTD)
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Reserve Bank of India has issued guidelines on 11th April 2023 regarding Framework for acceptance of Green Deposits as part of mobilising funds for financing green activities and projects and developing green finance ecosystem in the country. As such, amount mobilised under Green Deposit can be used to finance eligible green activities/projects only.

Accordingly, a new deposit scheme “SBI Green Rupee Term Deposit” has been introduced to mobilise deposits to support Bank in financing green initiatives.

Features

  • Eligible Customers: Resident Individuals, Non- Individual and NRI Customers (In case of NRI Customer the product shall be available in NRO and NRE deposit)

  • Amount of Deposit ( INR Only): Minimum - 1,000/-  Maximum – No Limit

  • Eligible Products: Term Deposit and Special Term Deposit. (Not available for MOD/ Tax Saving / Annuity / RD Scheme etc.)

  • Tenor (3):

    1111 Days
    1777 Days
    2222 Days

  • Rate of Interest:
    Present Effective Interest Rate (% p. a.)

     

    Retail

    Bulk

    Tenors

    Gen. Public

    Sr Citizen

    Gen. Public

    Sr Citizen

    1111 Days

    6.65%

    7.15%

    6.40%

    6.90%

    1777 Days

    6.65%

    7.15%

    6.40%

    6.90%

    2222 Days

    6.40%

    7.40%

    6.15%

    6.65%

  • Pre-mature withdrawal : As per guidelines applicable for premature withdrawal of normal Time Deposit.

  • Loan facility: Overdraft/ Demand Loan/ facility available Green Deposit is allowed.

  • Product availability: Initially the product is available through branch channel. Product shall be made available through INB and YONO app shortly.

  • Nomination : Available for eligible category of customers.
  • KYC guidelines: As per extant guidelines on KYC
  • Maturity Instructions: As applicable for Term Deposit/ Special Term Deposit
  • TDS: TDS is applicable as per Income Tax Rules. Customer may submit Form 15G/ 15H as per rules for non-deduction of TDS.

  • Transfer of Account: Account can be transferred to branches of SBI pan -India.

  • Others: Conversion from existing TDR to SGRTD and vice – versa not allowed.





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Last Updated On : Monday, 23-09-2024

Interest Rates

8.50%* p.a. onwards

w.e.f. 05.04.2024

*T&C Apply.

 

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