GREEN DEPOSIT
Green Deposit is a fixed-term deposit for investors looking to invest their surplus cash reserves in environmentally friendly projects. These deposits provide investors a platform to fulfil their sustainability goals by investing surplus cash balances in environmentally beneficial projects The investment in this fixed tenure deposit will go towards financing eligible businesses and projects that promote the transition to a low-carbon, climate-resilient, and sustainable economy.
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Name of the Deposit Product
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GREEN Deposit
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Tenor
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66 Months
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Amount
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Deposit Amount of less than Rs 3 Crore
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Scheme
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The deposit is made available in Cumulative and Simple interest schemes ie FD / KND
If monthly interest is required, it will be at discounted values as applicable to other deposits.
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Eligibility
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Domestic/NRE/NRO
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Scheme Period
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w.e.f. 29th January 2023 onwards .
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Premature closure penalty
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Pre closure penalty is applicable as all other term deposits. In case of NRE deposits, if closed prematurely within one year, no interest will be paid.
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Special category of Depositors
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Additional Interest for Senior Citizens & Staff Deposits
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TDS
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TDS and all other features will be as same as all other term deposits
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