SBI has launched this special scheme, understand in 10 points how you will earn big money.

According to the country's largest lender SBI, SBI Green Rupee Term Deposit (SGRTD) has been launched to support environment friendly initiatives and projects, which will promote the development of green finance ecosystem in India.

The country's largest bank, State Bank of India (SBI) has started a special fixed deposit scheme. According to a press release shared by the bank, SBI Green Rupee Term Deposit (SGRTD) has been launched to support environment friendly initiatives and projects, thereby promoting the development of green finance ecosystem in India. Let us also tell you 10 important things about SBI Green Rupee Term Deposit (SGRTD), which will be very useful for you before investing.

Special features of the scheme

Who can invest: SBI Green Rupee Term Deposit Scheme is for resident individuals, non-residents and NRI customers.

How many days is the scheme: SGRTD offers investors the facility to choose from three different tenures which include 1111 days, 1777 days and 2222 days.

How to invest? : At present the scheme is available on branch network and will soon be made available through other digital channels like YONO and Internet Banking services (INB).

How much interest will be given on retail deposit: 6.65 percent interest will be given on retail deposit scheme of 1111 and 1777 days and 6.40 percent interest will be given on the scheme of 2222 days.

How much interest will be given on bulk deposit: In retail deposit, 6.15 percent interest will be given on the scheme of 1111 and 1777 days and 5.90 percent interest will be given on the scheme of 2222 days.

Extra Benefits to Senior Citizens: Senior Citizens/Staff/Staff Senior Citizens are eligible for additional interest rate over the rate applicable to the public.

Premature Withdrawal: Investors can withdraw their money before time in this scheme.

Maturity Guidelines: All the guidelines which are applicable to fixed deposits and special FDs will be applicable.

Loan Facility: Loan or overdraft facility is available against the deposit amount.

TDS: TDS will be applicable as per income tax rules.