Have you heard of Green Deposit? If yes, you must know it is a standard deposit, like a fixed one. In such a situation, the money you deposit is invested in environmental projects. Recently, the country’s largest bank, State Bank of India, has launched the Green Fixed Deposit Scheme 2024.
What Is SBI’s Green Fixed Deposit Scheme?
Green FD of the State Bank of India is a scheme that will promote environment-related projects and help in India’s Green Finance Ecosystem. The new innovative product has introduced Green FD (Green Fixed Deposit of SBI). This will provide good support to the country towards a sustainable future.
Who Can Invest In SBI Green FD?
According to the information released by the State Bank of India, NRIs, residents and non-individual companies can all invest in the Green FD Scheme. Investment in this particular scheme can be made in three periods. You can invest in 1111 days, 1777 days and 2222 days.
New Interest Rates On SBI FD
- 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 One Year – 6 Percent
- 1 Year to Less Than 3 Years – 7 Percent
- 2 Year to Less Than 3 Years – 7 Percent
- 3 Years To Less Than 5 Years – 6.75 Percent
- 5 Years To Less Than 10 Years – 6.5 Percent
SBI Green Rupee FD Interest Rate
Ordinary investors will get less than ten basis points, i.e. 0.10 per cent interest on SBI’s Green Rupee FD. Regarding other FDs, the State Bank of India has also released new interest rates. New interest rates have been issued for FDs from 7 days to 10 years.
How and Where To Invest In SBI Green FD?
At present, to invest in the Green Fixed Deposit Scheme of the State Bank of India, you will have to visit the bank branch. However, this facility can also be available online in the coming days. In such a situation, customers can invest in green FD through the YONO app through internet banking.
