Green Rupee Term Deposit (SGRTD) Scheme

• State Bank of India (SBI), the country’s largest Bank has launched a special fixed deposit (FD) scheme.
• It has introduced SBI Green Rupee Term Deposit (SGRTD) scheme to mobilise funds to support environment friendly initiatives and projects.
• This deposit scheme is open to resident individuals, non-individuals, and NRIs.
• SGRTD offers investors the flexibility to choose from three distinct tenors: 1,111 days, 1,777 days, and 2,222 days.
• Senior Citizens/ Staff/ Staff Senior Citizens are eligible for an additional interest rate over the applicable rate for the public.
• Pre-mature withdrawal is
• Loan/ overdraft facility is also available against the deposit.

ABOUT GREEN DEPOSITS

• Green deposit means an interest-bearing deposit, received by the regulated entities (RE) for a fixed period the proceeds of which are earmarked for being allocated towards green finance
• The deposits raised under the framework are covered by the Deposit Insurance and Credit Guarantee Corporation.