Product Details
Bank Name
State Bank Of India
Eligibility
Resident individuals, Non- Individual and NRI customers.
Interest Rate
Up to 7.40% per annum.
Tenure
Three tenure options: 1111 days, 1777 days, 2222 days
Fixed Deposit Type
Regular
SBI GREEN RUPEE TERM DEPOSIT (SGRTD)
Tax Benefits
No
Credit Ratings
CRISIL: AAA/Stable
[ICRA]AAA (Stable)
Interest Payment Frequency
Monthly, Quarterly, Half-yearly, yearly, at maturity.
Cummulative/Non-Cummulative
Not specified by the bank.
Features
SBI Green Rupee Term Deposit is a fixed deposit scheme with a specific tenure. The unique aspect of this scheme is that the bank utilizes the deposited funds to finance environmentally sustainable projects, such as Renewable energy, Water and waste management, Green building, and Smart agriculture.
Tenure: Fixed period of 1111, 1777 and 2222 days.
Minimum deposit amount: Rs. 1,000.
Maximum deposit amount: No limit.
Overdraft/Loan against deposit is provided.
Minimum Investment Amount
1,000
Fees and Charges
Pros
Environment sustainable scheme.
Minimum deposit amount of Rs. 1000.
An overdraft/Loan facility is provided to the user.
Cons
No tax saving options.
Fixed tenure options.
Pros & Cons
Account Opening and Procedure
How to Open?
Visit an SBI Branch: Locate a nearby State Bank of India branch and visit during their operating hours.
Submit Application Form: Request an application form. Fill out the form accurately with your personal and financial details.
Provide Identification: Submit valid identification documents such as your PAN card, Aadhaar card, or passport.
Deposit Funds: Deposit the desired amount into your new fixed deposit account.
Choose Interest Payout Frequency: Select your preferred frequency for receiving interest payments: monthly, quarterly, or half-yearly.
Sign Agreement: Sign the necessary documents to open the account and confirm the terms and conditions.
Application Procedure
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