Green FD i.e. Green Rupee Term Deposit has been launched by the country’s largest bank SBI. The money invested in this FD will be used in projects that promote the environment and help India’s green finance ecosystem flourish.
In a statement issued by SBI, it was said that a new innovative product has been launched by the bank. The bank will finance green projects through green FD. This will also support the country’s vision of a sustainable future.
Who can invest?
According to the information given by SBI, NRIs, residents and non-individuals (companies) can all invest in this FD. You can invest in SBI Green Rupee FD in three periods which will be 1111 days, 1777 days and 2222 days. Currently, you will be able to invest in this scheme through branch and in future through YONO and internet banking.
Interest on SBI Green Rupee FD
The interest on Green Rupee FD from SBI will be 10 basis points i.e. 0.10 percent less than the interest given on FD to general investors.
FD latest interest rates in SBI
- 7 days to 45 days 3.5 percent
- 46 days to 179 days 4.75 percent
- 180 days to 210 days 5.75 percent
- 211 days to less than a year 6 percent
- From 1 year to less than 3 years 6.8 percent
- 2 years to less than 3 years 7 percent
- 3 years to less than 5 years 6.75 percent
- From 5 years to less than 10 years 6.5 percent
Let us tell you that compared to general investors, senior citizens are being given 0.50 percent interest on FDs of all tenures.
