IndusInd Bank has announced the launch of ‘green fixed deposits’, whereby the deposit proceeds will be used to finance projects and firms supporting the UN’s Sustainable Development Goals (SDGs). A green deposit is a fixed-term deposit for investors looking to invest their surplus cash reserves in environmentally friendly projects. These deposits will be offered to both retail & corporate customers.
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About the ‘green fixed deposits’:
- The Bank will use the proceeds from these deposits to finance a wide array of sectors falling under the SDG category including, energy efficiency, renewable energy, green transport, sustainable food, agriculture, forestry, waste management and greenhouse gas reduction.
- The interest on the Green deposit remains attractive with an additional benefit of 50 basis points for senior citizens. In all ways, it is similar to a regular bank deposit but in addition, depositors will be issued a ‘Green’ certificate as well as an ‘Assurance’ certificate confirming the end-use of deposit proceeds at the end of the financial year.”
- The launch of ‘Green’ deposits’ is part of IndusInd Bank’s larger commitment of creating value for all its stakeholders, and remaining focused at driving the sustainable economic growth of the country.
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