SGRTD: Provides investors the facility to choose from three different tenures – 1,111 days, 1,777 days and 2,222 days.
SGRTD: State Bank of India (SBI), the country’s largest public sector bank, launched the Green Rupee Term Deposit scheme for funding environment-friendly projects. The bank said that this scheme is open to all individuals including Non-Resident Indians (NRIs). Provides investors the facility to choose from three different tenures – 1,111 days, 1,777 days and 2,222 days.
What is Green deposit?
According to RBI notification, Green Fixed Deposit is a type of fixed term deposit, in which investors invest their money in projects for the benefit of the environment. These projects include renewable energy, energy efficient, water conservation and pollution control etc.
How to invest?
SBI Chairman Dinesh Khara said in the statement that currently the scheme is available through the branch network and soon it will also be available on digital mediums like ‘YONO’ App and online banking.
Benefits of green deposit
By investing in Green Deposit, investors contribute to environmental protection.
This can be a safe option of investment, because it is a bank deposit.
The interest rates on green deposits are usually higher than traditional fixed deposits.
