Green Fixed Deposits: Deposits that grows your savings and heals the planet
Green Fixed Deposits’ that gives you an opportunity to create a positive impact on the environment along with earning interest on your deposits. These deposits will contribute to development of projects which has a positive impact on our surroundings and the society at large. Most investors are familiar with mutual fund houses' ESG (environmental, social, and governance) funds. However, few people are aware that a similar, environmentally beneficial choice exists in the shape of green fixed deposits on the fixed-income side (FDs). HDFC, Union Bank, and IndusInd Bank are among the banks that offer such deposits. Objective IndusInd Bank will deploy proceeds from these deposits in organisations supporting the United Nations Sustainable Development Goals (SDGs).
Mentioned below are a few sectors these organisations are involved in: Energy Efficiency Renewable Energy Green Transport Sustainable Food Agriculture Forestry Waste Management Greenhouse Gas Reduction Features & Benefits of Green Fixed Deposit Higher rate of interest up to 6.5% per annum Additional returns for the senior citizens of 0.50% per annu Deposits backed by insurance for up to Rs. 5 lac Low pre-mature withdrawal charges of only 1% Assurance certification from a reputed external consulting firm