SBI Green Rupee Term Deposit Scheme: Interest Rate and Tenure 2024

SBI Green Rupee Term Deposit Scheme was launched by the State Bank of India authorities. The green rupee term deposit Scheme is launched by the State Bank of India. This scheme will mobilize funds for environment-friendly initiatives and projects. With the help of this scheme, the citizens of India can submit their money to the bank to get interest on it. This scheme will grow the green finance system in India as released by the Reserve Bank of India. With the help of this scheme, the citizens of India can grow a habit of saving in the bank. The applicants can go to the nearest SBI Branch to avail the benefits of this scheme.

SBI Green Rupee Term Deposit Scheme 2024

The State Bank of India launched the SBI green rupee term deposit scheme in 2024. This is a fixed deposit scheme launched by the SBI Bank authorities. This scheme aims to grow a green finance ecosystem in India. The customers of SBI Bank authority can use this fixed deposit scheme to increase the habit of saving. Under the scheme, the interest rate is quite high in comparison with normal FD. The main aim of the scheme is to promote an environment-friendly initiative. All the residents of India or outside are eligible to apply for this scheme.

SBI Green Rupee Term Deposit Scheme
SBI Green Rupee Term Deposit Scheme

Also Read: SBI Utsav Fixed Deposit Scheme 

Key Highlights of the SBI Green Rupee Term Deposit Scheme

Name of the schemeSBI Green Rupee Term Deposit Scheme
Launched bySBI Bank authorities
ObjectiveProvide FD
BeneficiariesResidents or non-residents of India
Official website 

Eligibility Criteria

  • Both Residents and non-residents of India are eligible to apply for this scheme.
  • A loan and overdraft facility is available against the deposit.
  • TDS is available as per the income tax rule.

SBI Green Rupee Term Deposit Tenure

  • 1111 days
  • 1777 days
  • 2222 days

Also Read: PRITHvi VIgyan Scheme

SBI Green Rupee Term Deposit Interest Rate

Time PeriodRetail DepositsBulk Deposits
1111 Days6.65 %6.15 %
1777 Days6.65 %6.15 %
2222 Days6.40 %5.90 %

Features of the SBI Green Rupee Term Deposit Scheme

Loan Facility
  • A loan and overdraft facility is available against the deposit that the customer has made under the scheme.
Premature Withdrawal
  • Premature withdrawal is available on the fixed deposit that is made under the Scheme.
TDS
  • The TDS under the Green Rupee Term Deposit Scheme is deductible according to the income tax rule.

Benefits of the Scheme

  • This scheme will grow the green finance ecosystem in India.
  • The main aim of this scheme is to promote environment-friendly initiatives.
  • The scheme will encourage the citizens to adopt the habit of saving.
  • The interest rate under this scheme is higher than the normal fixed deposit.
  • The surplus cash reserve will be used in eco-friendly projects by the SBI Bank authorities.

Also Read: PPF Account Opening Form 

How to Invest Under SBI Green Rupee Term Deposit Scheme

  • To invest under SBI Green Rupee Term Deposit Scheme the customer can go to the nearest SBI branch.
  • The customer can talk to the manager about the scheme.
  • The scheme is not available on the official website now.
  • But it can be available soon on the YONO application.

Contact Details

  • 1800 2100
FAQS
Who is eligible to apply for the SBI Green Rupee Term Deposit Scheme?

Both the residents and non-residents of India are eligible to apply for the Green Rupee Term Deposit Scheme.

How will the TDS be deducted under the Green Rupee Term Deposit?

The TDS will be ducted under the scheme according to the income tax rule.

Is premature withdrawal allowed under the scheme?

Yes, premature withdrawal is allowed under the scheme.

Which bank branch launched the Green Rupee Term Deposit Scheme?

The State Bank of India launched the Green Rupee Term Deposit Scheme.

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