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IndusInd Bank’s Green Fixed Deposits is a unique and effective scheme launched by IndusInd Bank.
The Bank will utilise the deposit revenues from IndusInd Bank’s Green Fixed Savings to fund initiatives and businesses that promote the UN’s Sustainable Development Goals (SDGs).
IndusInd Bank is one of the few institutions globally to provide this program, which combines SDG with a traditional fixed deposit product. Both retail and commercial clients will take advantage of these deposits.
The Bank will use the earnings from these contributions to fund a variety of SDG-related sectors, including fuel efficiency, sustainable sources, green transportation, sustainable farming, agribusiness, forest management, waste disposal, and greenhouse gas elimination.
Keep reading this article till the end to understand the complete details about IndusInd Bank’s Green Fixed Deposits.
Objective
The revenues from High Interest rates Fixed Deposits will be invested in organisations that promote the UN’s Sustainable Development Goals (SDGs).
A handful of the industries in which these organisations operate are listed below:
- Sustainable Food
- Agriculture
- Green Transport
- Energy Efficiency
- Greenhouse Gas Reduction.
- Renewable Energy
- Forestry
- Waste Management
Suggestions to Schedule Quick Fixed Deposit
Web-based Software
Non-IndusInd clients are also eligible. Here is how to schedule:
- Validate your PAN and Aadhar numbers.
- Fill up your personal and financial information.
- Allow Video-KYC
- Put money into your FD
Indus Mobile
Step 1: Select the deposit option after logging in with your online banking ID.
Step 2: Select ‘Create Fixed Deposit’ and complete the form thoroughly.
Step 3: If your application is approved, the funds will be deposited from your bank account.
Indus Net
Step 1: Go to your mobile finance account and choose the deposit option.
Step 2: Select ‘Open FD’ and enter your information.
Select the portion from your savings account to put into your FD.
Features & Perks of Green Fixed Deposit
Here are some of the top features you will enjoy with IndusInd Bank’s Green Fixed Deposits:
- A higher percentage of interest of up to 6.5% per year is available.
- Senior people will get more benefits.
- Deposits with up to Rs 5 lakhs in insurance
- Premature withdrawal fees are low.
- Certification from a reputable third-party consulting agency
Important Considerations When Investing in IndusInd Green FD
- If a fixed deposit is managed to open for a particular tenor/ worth as recognised as Green Fixed deposit in fixed deposit price Card.
- Any fixed deposit that is automatically renewed and falls inside the tenor/value specified as Green Fixed Deposit on the fixed deposit rate card as of the renewal date.
In the following circumstances, a fixed deposit will no longer be considered a green fixed deposit:
- If a Green Fixed Deposit is used to secure an overdraft;
- If a Green Fixed Deposit is closed (in whole or part) before maturity.
Conclusion
Sustainable banking has traditionally been a top priority for IndusInd Bank. It is India’s only Bank to get a ‘band A’ rating from the Carbon Disclosure Initiative, and it has retained its leading position for the last five years.
The bank is now excited to provide Green deposits, which will allow the customers to create a cleaner and safer society.
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