The State Bank of India (SBI) has recently launched the SBI Green Rupee Term Deposit (SGRTD) scheme.
About the SBI Green Rupee Term Deposit (SGRTD) scheme:
- The SGRTD scheme aims at mobilizing funds to support environmentally sustainable initiatives and projects.
- This move aligns with the Government of India’s ambitious goal of achieving net carbon zero by 2070.
- It is designed to mobilize funds for environment-friendly initiatives and projects.
- It allows for pre-mature withdrawal with applicable maturity instructions.
- Loan or overdraft facility is available against the deposit.
- TaxDeducted at Source (TDS) is applicable as per Income Tax Rules.
- TDS is income tax reduced from the money paid at the time of making specified payments such as rent, commission, professional fees, salary, interest etc. by the persons making such payments.
Eligibility and Tenure:
- Open to resident individuals, non-individuals, and NRIs (Non-Resident Indians).
Ref: Source
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