Know Your FD Rate: Special SBI FD scheme pays these returns on Rs 5 lakh deposit in 1111, 1777, 2222 days
SBI Green Rupee Term Deposit (FD Scheme): In the retail category of the 1111-day and 1777-day FD schemes, general citizens get 6.65 per cent interest rate, while in the 2222-day FD, the interest rate is 6.15 per cent. In the bulk category of the 1111-day and 1777-day schemes, general citizens get 6.40 per cent interest rate, while in the 2222-day FD, the interest rate is 6.15 per cent.
SBI Green Rupee Term Deposit (FD Scheme): State Bank of India launched SBI Green Rupee Term Deposit (FD) scheme in April 2023. The banks said that the scheme's aim was to mobilise funds for financing green activities and projects as well as developing a green finance ecosystem in India. The lender wanted to use these funds to finance eligible green activities/projects only. SBI Green Rupee Term Deposit is a special FD scheme, like SBI Amrit Kalash and SBI Amrit Vrishti Yojana, where one can invest their funds for a limited period. In this write-up, know more about SBI Green Rupee Term Deposit (FD scheme) and what the maturity amounts will be for general and senior citizens on a Rs 5 lakh investment in the 1111-day scheme.
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FD schemes under SBI Green Rupee Term Deposit
There are 3 FDs available under the scheme: 1111-day FD, 1777-day FD, 2222-day FD.
SBI Green Rupee Term Deposit: Interest rates for general citizens
In the retail category of the 1111-day and 1777-day schemes, general citizens get 6.65 per cent interest rate, while in the 2222-day FD, the interest rate is 6.15 per cent.
SBI Green Rupee Term Deposit: Interest rates for general citizens
In the bulk category of the 1111-day and 1777-day schemes, general citizens get 6.40 per cent interest rate, while in the 2222-day FD, the interest rate is 6.15 per cent.
SBI Green Rupee Term Deposit: Interest rates for senior citizens
In the retail category of the 1111-day and 1777-day schemes, senior citizens get 7.15 per cent interest rate, while in the 2222-day FD, the interest rate is 7.40 per cent.
SBI Green Rupee Term Deposit: Interest rates for senior citizens
In the bulk category of the 1111-day and 1777-day schemes, senior citizens get 6.90 per cent interest rate, while in the 2222-day FD, the interest rate is 6.65 per cent.
SBI Green Rupee Term Deposit: Who can apply
Resident individuals, non-individuals, and NRI customers (in case of NRI customer, the product is available in NRO and NRE deposit) are eligible to apply for the scheme.
SBI Green Rupee Term Deposit: Minimum and maximum investments
The minimum investment in the scheme is Rs 1,000, and there is no limit for the maximum investment.
SBI Green Rupee Term Deposit: Eligible products
The products in the scheme are term deposits and special term deposits. (Not available for MOD/Tax Saving/Annuity/RD Scheme, etc.)
SBI Green Rupee Term Deposit: Premature Withdrawal
Premature withdrawal is allowed as per guidelines applicable for premature withdrawal of normal SBI Time Deposit.
SBI Green Rupee Term Deposit: TDS
TDS is applicable as per Income Tax Rules. Customer can also submit Form 15G/ 15H as per rules for non-deduction of TDS.
SBI Green Rupee Term Deposit: Loan Facility
The bank offers overdraft and demand loan facility to Green Deposit FD holders.
SBI Green Rupee Term Deposit: Account transfer
The FD account can be transferred to branches of SBI pan India.
SBI Green Rupee Term Deposit: Maturity amount for general citizens on Rs 5 lakh investment
For general citizens, a Rs 5 lakh investment in the special FD will give Rs 1,0395 in interest and Rs 6,09,395 in maturity.
SBI Green Rupee Term Deposit: Maturity amount for senior citizens on Rs 5 lakh investment
For senior citizens, Rs 5 lakh investment in the special FD will give Rs 1,18,449 in interest and Rs 6,18,449 in maturity.