SBI FD Scheme 1111 Days : India’s largest public sector bank, State Bank of India (SBI), is offering a special Green Rupee Term Deposit to promote environmental conservation. This new fixed deposit scheme is called SBI Green Rupee Term Deposit (SGRTD). The aim of this scheme is to raise funds and invest them in environmentally friendly (green) projects.
SBI FD Scheme 1111 Days : Who can invest in SBI Green Rupee Term Deposit?
Indian citizens, as well as NRI and NRO account holders, are eligible to invest in this scheme.
What is the investment period?
SBI is offering this scheme for three different tenures:
- 1,111 days
- 1,777 days
-
2,222 days
How can you apply?
Initially, this scheme can be availed through a bank branch.
Soon, it will also be available on the YONO app, internet banking, and mobile banking.
What is the interest rate?
The interest rates on this Green FD are slightly lower than regular fixed deposits:
- 1,111 days – 6.65% per annum
- 1,777 days – 6.65% per annum
-
2,222 days – 6.40% per annum
Extra benefits for senior citizens
Senior citizens will receive higher interest rates under this scheme.
Current SBI employees and retired senior employees will also get additional interest benefits.
However, NRI senior citizens and NRI employees are not eligible for this extra benefit.
Loan and overdraft facility
Investors in this scheme can also get loan and overdraft facilities, similar to other fixed deposits.
What about TDS?
As per income tax rules, TDS will be applicable on this scheme.
Investors may need to submit Form 15G or Form 15H as per their tax status.
Why is SBI Green Rupee Term Deposit special?
- This FD supports environmental protection projects
- It offers guaranteed returns for a fixed period
-
It is a safe and simple investment option from a trusted bank
If you are looking for low risk and assured returns, this scheme can be a good option for you.