The State Bank of India (SBI) has launched the SBI Green Rupee Term Deposit (SGRTD) to mobilise funds to support environment-friendly initiatives and projects.
This unique deposit scheme is open to resident individuals, non-individuals, and NRI customers.
It offers investors the flexibility to choose from three distinct tenors — 1111 days, 1777 days, and 2222 days.
In term deposits, the sum of money is kept for a fixed maturity and the depositor is not allowed to withdraw this sum till the end of the maturity period.