| TENURE | REGULAR RATES | SENIOR CITIZEN |
| 7 days to 45 days | 3.50% | 4.00% |
| 46 days to 179 days | 5.50% | 6.00% |
| 180 days to 210 days | 6.25% | 6.75% |
| 211 days to less than 1 year | 6.50% | 7.00% |
| 1 year to less than 2 year | 6.80% | 7.30% |
| 2 years to less than 3 years | 7.00% | 7.50% |
| 3 years to less than 5 years | 6.75% | 7.25% |
| 5 years and up to 10 years | 6.50% | 7.50% |
| 400 days (Amrit Kalash) | 7.10% | 7.60% |
| 444 days (Amrit Vrishti) | 7.25% | 7.75% |
SBI Green Rupee Term Deposit (SGRTD)
The SBI Green Rupee Term Deposit (SGRTD) is a new savings scheme that the State Bank of India (SBI) has launched to support environmentally friendly projects. This initiative aligns with the Reserve Bank of India's guidelines on green finance and aims to mobilize funds for financing green activities. By investing in SGRTD, you can earn interest while contributing to sustainable development.
Returns as high
as 7.1%*
Includes life cover
Completely Tax free+
as 7.1%*
Includes life cover
Completely Tax free+
Maximum returns Offered by
Guaranteed
Highest
7.1%*
Guaranteed Plan
(by insurance companies)
(10 Years)
6.5%**
Fixed Deposits
(by SBI bank)
(5-10 Years)
7.1%***
Public Provident Fund
(other popular options)
(15 Years)
Get Guaranteed returns up to 7.1%*
Fully Tax-Free* (unlike FD), Life Cover Included
- Home
- FD Interest Rates
- SBI FD Interest Rates
- SBI Green Rupee Term Deposit (SGRTD)
SBI FD Interest Rates
What is SBI Green Rupee Term Deposit (SGRTD)?
The SBI Green Rupee Term Deposit allows you to open a fixed deposit account specifically designed to raise funds for green projects. Your money will directly support financing eligible green activities, such as renewable energy projects, pollution control, and sustainable agriculture.
Comparison Between
Guaranteed Return Plans
Returns Before Tax
7.5% (TAX-FREE)
Returns After Tax
7.5%
Guaranteed Returns
Yes
Life Cover
Yes
Tax on Profit
Tax Free*
Risk
No Risk
Still Better than FD’s and Debt Mutual Fund
Fixed Deposits
Returns Before Tax
7% (TAXABLE)
Returns After Tax
4.8%
Guaranteed Returns
Yes
Life Cover
No
Tax on Profit
Taxable
Risk
Low Risk
Debt Mutual Fund
Returns Before Tax
8% (TAXABLE)
Returns After Tax
5.5%
Guaranteed Returns
No
Life Cover
No
Tax on Profit
Taxable
Risk
High Risk
*For annual premium upto ₹5 Lacs
SBI Green Rupee Term Deposit (SGRTD) Interest Rates ~ w.e.f. 23 September 2024
As of September 23, 2024, here are the interest rates for the SBI Green Rupee Term Deposit:
| Tenure | Interest Rate for General Public (p.a) | Interest Rate for Senior Citizens (p.a) |
| 1,111 Days | 6.65% | 7.15% |
| 1,777 Days | 6.65% | 7.15% |
| 2,222 Days | 6.40% | 7.40% |
Features of the SBI Green Rupee Term Deposit (SGRTD) Scheme
-
Eligibility: Individuals, businesses, and non-resident Indians (NRIs) can all participate in this scheme.
-
SGRTD Deposit Amount: â‚ą1,000 - No Limit
-
Tenure Options: You can choose from three specific tenures:
-
1,111 days
-
1,777 days
-
2,222 days
-
-
Interest Rates: The bank sets the interest rates at 10 basis points below the standard card rate for both retail and bulk deposits.
-
Premature Withdrawals: You have the option to withdraw your funds before maturity.
-
Loan Facility: You can access an overdraft or demand loan against your Green Deposit, providing financial flexibility when you need it.
-
Product Availability: Currently, you can open this deposit through SBI branch locations. The bank plans to make it available soon via Internet Banking (INB) and the YONO app for added convenience.
-
Nomination Facility: You can nominate a beneficiary for your deposit, ensuring that your investment is secure and can be transferred in case of unforeseen circumstances.
-
KYC Compliance: The account will adhere to the Know Your Customer (KYC) guidelines as per regulatory requirements to ensure safe banking practices.
-
TDS Regulations: Tax Deducted at Source (TDS) applies according to Income Tax Rules. You can submit Form 15G or 15H to request non-deduction of TDS if you meet the eligibility criteria.
-
Account Transfer: You can transfer your account to any SBI branch across India, providing flexibility and convenience.
-
Conversion Restrictions: Please note that you cannot convert an existing Term Deposit Receipt (TDR) into a Green Rupee Term Deposit or vice versa.
FD interest rates India have fallen consistently over the last 12 years.
Benefits of the SBI Green Rupee Term Deposit Scheme
Investing in SGRTD offers several advantages:
-
Support for Green Initiatives: Your funds will directly contribute to environmentally friendly projects.
-
Attractive Interest Rates: The competitive rates make this scheme a lucrative investment option.
-
Accessibility: With a minimum investment amount of just â‚ą1,000, many people can easily participate.
-
Insurance Coverage: The Deposit Insurance and Credit Guarantee Corporation (DICGC) insures your deposits up to â‚ą5 lakh.
How to Invest in SGRTD
You can easily invest in the SBI Green Rupee Term Deposit by following these steps:
-
Visit an SBI Branch: Open an account at any SBI branch near you.
-
Online Options: Soon, you will be able to access this scheme through digital platforms like YONO and Internet Banking.
-
Complete the Application: Fill out the required forms and submit your investment amount.
All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
Conclusion
The SBI Green Rupee Term Deposit provides an excellent opportunity for you to invest responsibly while earning competitive returns on your savings. By choosing this scheme, you secure your financial future and actively contribute to promoting environmental sustainability. Consider investing in SGRTD today and help create a greener planet!
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FAQs
-
What is the Green Rupee Term Deposit of SBI?
The SBI Green Rupee Term Deposit (SGRTD) is a fixed deposit scheme launched by the State Bank of India to raise funds for environmentally friendly projects. This scheme allows individuals and businesses to invest their money while supporting green initiatives, such as renewable energy and pollution control. -
What is the interest rate of green rupee FD in SBI 2024?
As of September 23, 2024, the interest rates for the SBI Green Rupee Term Deposit are:-
1,111 Days: 6.65% per annum for the general public and 7.15% per annum for senior citizens.
-
1,777 Days: 6.65% per annum for the general public and 7.15% per annum for senior citizens.
-
2,222 Days: 6.40% per annum for the general public and 7.40% per annum for senior citizens.
-
-
What is the interest rate of green deposits?
The interest rates for green deposits, including the SBI Green Rupee Term Deposit, typically align with standard fixed deposit rates but may vary slightly. For SGRTD, the rates are set at 10 basis points below the card rate for retail and bulk deposits. -
What is the difference between green rupee FD and regular FD?
The main differences between the Green Rupee FD and a regular fixed deposit (FD) include:-
Purpose: Green Rupee FD funds specifically support environmentally friendly projects, while regular FDs do not have this restriction.
-
Tenure Options: Green Rupee FD offers unique tenures of 1,111 days, 1,777 days, and 2,222 days that align with India's renewable energy goals.
-
Interest Rates: While both types offer competitive interest rates, Green Rupee FD may have slightly different rates based on its environmental focus.
-
-
What are the benefits of Green Rupee Term Deposit?
Investing in the SBI Green Rupee Term Deposit provides several benefits:-
Supports Green Projects: Funds renewable energy and eco-friendly initiatives.
-
Competitive Interest Rates: Offers attractive rates for your savings.
-
Low Minimum Investment: Start with just â‚ą1,000.
-
Insurance Coverage: Deposits insured up to â‚ą5 lakh by DICGC.
-
Flexible Withdrawals: Option to withdraw funds before maturity.
-
Loan Facility: Access loans or overdrafts against your deposit.
-
*All savings are provided by the insurer as per the IRDAI approved
insurance plan. Standard T&C Apply
+ Trad plans with a premium above 5 lakhs would be taxed as per
applicable tax slabs post 31st march 2023
#Discount offered by insurance company
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
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