SBI Green Rupee Term Deposit (SGRTD)

The State Bank of India (SBI) offers the SBI Green Rupee Term Deposit (SGRTD), a unique fixed deposit scheme that channels your funds towards environmentally friendly projects and initiatives.

What is it?

The SGRTD is a term deposit like any other, offering you a fixed interest rate for a specific period. However, the key difference lies in the purpose of your investment. By choosing SGRTD, you’re directing your money toward projects that promote renewable energy, energy efficiency, pollution reduction, and other green initiatives.

Interest Rates of SGRTD

	Retail		Bulk
Tenors	Gen. Public	Sr. Citizen	Gen. Public	Sr. Citizen
1111 Days	6.65%	7.15%	6.15%	6.65%
1777 Days	6.65%	7.15%	6.15%	6.65%
2222 Days	6.40%	7.40%	5.90%	6.40%

Key Features of SGRTD

• Tenures: Three fixed tenures – 1111 days, 1777 days, and 2222 days.
• Minimum Deposit: Rs. 10,000, Maximum – No Limit
• Premature withdrawal allowed: Subject to penalty charges.
• Interest payment options: Monthly, quarterly, half-yearly, or yearly.
• Tax benefits: Applicable under Section 80G of the Income Tax Act, 1961.
• Eligible Customers: Resident Individuals, Non- Non-Individual, and NRI Customers (In the case of NRI Customers the product shall be available in NRO and NRE deposit).
• Loan facility: Overdraft/ Demand Loan/ facility available Green Deposit is allowed.
• TDS: TDS is applicable as per Income Tax Rules.

Benefits of SGRTD

• Competitive interest rates: Earn attractive interest rates that are comparable to regular term deposits. As of January 18, 2024, the rates range from 6.15% to 7.40% depending on the tenure and amount invested.
• Contribute to a greener future: Feel good knowing that your investment is making a positive impact on the environment and supporting India’s transition to a sustainable economy.
• Flexible options: Choose from three convenient tenures: 1111 days, 1777 days, and 2222 days. Invest through your nearest SBI branch or through digital channels like YONO and Internet Banking.
• Safe and secure: SBI, India’s largest public sector bank, offers the security and reliability you expect for your investments.
• Higher interest rates: Compared to regular SBI term deposits, SGRTD offers slightly higher interest rates, promoting green investments.
• Tax benefits: Investors can claim tax deductions of up to Rs. 50,000 on their invested amount under Section 80G.
• Environmentally conscious: Funds from SGRTD are used for financing renewable energy projects, aiding in environmental sustainability.

Who can invest?

The SGRTD is open to all Indian residents, including individuals, non-individuals, and NRIs. The minimum investment amount is just Rs.10,000, making it accessible to a wide range of investors.

By choosing the SGRTD, you’re joining a growing movement of environmentally conscious investors who are using their financial power to drive positive change. Your investment not only benefits you financially but also helps build a cleaner, greener future for generations to come.

For more information visit the SBI website or your nearest SBI branch to learn more about the SGRTD and how you can get started. Remember, investing in a greener future can be both profitable and personally rewarding.

SBI Green Rupee Term Deposit: FAQs

What is the SBI Green Rupee Term Deposit (SGRTD)?

The SGRTD is a fixed-deposit scheme offere with the specific purpose of financing environmentally friendly projects and initiatives. This means that funds deposited in SGRTD are earmarked for supporting green activities like renewable energy, clean technology, and sustainable infrastructure.

Who can invest in SGRTD?

Ans:-Resident individuals, non-individuals, and NRI customers are all eligible to invest in SGRTD. NRI customers can choose between NRO and NRE deposit options.

What are the tenors and interest rates?

SGRTD offers three fixed tenors: 1111 days, 1777 days, and 2222 days. Interest rates vary based on the tenure, customer type (general public or senior citizen), and deposit amount (retail or bulk). You can find the current rates on SBI’s official website.

What is the minimum and maximum investment amount?

The minimum investment amount is ₹1,000, with no upper limit for maximum investment.

Can I prematurely withdraw my money from SGRTD?

Premature withdrawal is allowed, but attract penalties as per SBI’s standard guidelines for regular term deposits.

Can I take a loan against my SGRTD?

Yes, overdraft and demand loan facilities are available against SGRTD deposits.

How can I invest in SGRTD?

Currently, SGRTD is only available through SBI’s branch network. However, it is expected to be available through digital channels like YONO and Internet banking soon.

Are there any additional charges or fees?

There are no additional charges or fees specific to SGRTD. However, standard FD charges like TDS deduction and account maintenance charges may apply.

Is SGRTD different from regular FDs in terms of returns?

Due to RBI regulations, SBI cannot offer differential interest rates on green deposits compared to regular FDs. However, by choosing SGRTD, you contribute to environmental initiatives while earning competitive returns.

Where can I get more information about SGRTD?

You can visit SBI’s official website, refer to the FAQ section on customer care, or visit your nearest branch for detailed information and assistance.