Green FD interest rates up to 8%: These 3 banks offer green deposits in India Here is list of banks offering green fixed deposits
Environmental and social problems have been growing all across the world. Banks are promoting sustainable practices by offering 'Green Fixed Deposits' to support social and environmental issues.Note that the deposits raised under the framework are covered by DICGC in accordance with the Deposit Insurance and Credit Guarantee Corporation Act, 1961 and the regulations framed thereunder, as amended from time to time.
SBI launches green rupee fixed deposit (FD): Who can invest, interest rate, how to buy
Here is list of banks offering green fixed deposits. .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:10px;font-weight:500;line-height:18px;} #sr_widget .sr_desc{margin:0 auto 0;} #sr_widget .sr_desc{color: #024d99;}
Investors looking for twin engines of quality and growth.
CENT Green time deposit scheme
According to the Central Bank of India, “Cent Green Deposits, a fixed deposit scheme for a specific tenure, where the amount deposited by customer will be used for lending to renewable energy projects, green building projects and projects in smart Agriculture, water or waste management projects etc.”
Serial NoTENORRATE OF INTEREST111115.70 (Card Rate+0.20%)222225.80 (Card Rate+0.20%)333335.85 (Card Rate+0.25%)
A minimum of Rs. 50,000 and a maximum of Rs. 1,99,99,999 are required.
For Green Fixed Deposits, there is an extra interest rate of 0.20 to 0.25% above the fixed deposit card rates. In the event of withdrawal (full/part) of Green Fixed Deposits prior to maturity, such remaining portion of the deposits will cease to be Green Fixed Deposit and will be converted to a regular fixed deposit.
AU Green Fixed Deposit
AU Green Fixed Deposit invests all funds in projects dedicated to green initiatives like Waste Management, Solar Projects, Recycling Plastic, Rainwater Harvesting, and Electric Vehicles, as per the website. AU Bank offers various tenure that suits your financial goals, ranging from 1 to 10 years options.
Applicable Interest Rates on Planet First - AU Green Fixed Deposit w.e.f. 24th January 2024
Tenure BucketInterest Rates12 Months6.75%12 Months 1 Day to 15 Months7.75%15 Months 1 Day to 18 Months7.50%18 Months8.00%18 Months 1 Day to 24 Months7.75%24 Months 1 Day to 36 Months7.50%36 Months 1 Day to 45 Months7.50%45 Months 1 Day to less than 60 Months7.25%60 Months to 120 Months7.25%
SBI Green deposit
SBI launched a new deposit scheme “SBI Green Rupee Term Deposit” to mobilise deposits to support Bank in financing green initiatives. The minimum amount is Rs 1,000/- and there is no limit on maximum amount. TDS is applicable as per Income Tax Rules. Customer may submit Form 15G/ 15H as per rules for non-deduction of TDS.
RetailBulkTenorsGen. PublicSr CitizenGen. PublicSr Citizen1111 Days6.65%7.15%6.15%6.65%1777 Days6.65%7.15%6.15%6.65%2222 Days6.40%7.40%5.90%6.40%
This story originally appeared on: India Times - Author:Faqs of Insurances
