Last updated on December 20th, 2023 at 11:29 am
AU Small Finance Bank’s New Green Fixed Deposit Supports Eco-Friendly Projects
Newzdaddy Business Updates
Mumbai, October 25, 2023: AU Small Finance Bank, India’s largest Small Finance Bank, is excited to introduce its first Green Fixed Deposit, known as Planet First – AU Green Fixed Deposit. This special savings account is designed to use all the money it collects to support environmentally friendly projects like solar power and electric vehicles. It’s a step towards helping the environment.
The bank’s Green Deposit policy has been approved and reviewed by experts to make sure it follows all the rules. By directing funds toward green projects and green assets, the bank is contributing to a more sustainable future.
Here’s what you need to know about the Planet First – AU Green Fixed Deposit:
- It offers an attractive interest rate of up to 8.50 percent.
- You can open one with just Rs 5,000.
- You can open it using the bank’s video service, app, online banking, or by visiting a bank branch.
- You can choose how long you want to keep your money in the account, from as short as two years to longer.
- You can decide how often you want to receive the interest (monthly, quarterly, or when the deposit matures).
- You’ll get updates about how your money is being used for green projects.
This Green Fixed Deposit follows guidelines from the Reserve Bank of India (RBI), which ensures the money is only used for activities that help the environment and fight climate change. Some of these projects will take place in rural areas of India.
Mr. Sanjay Agarwal, Founder and MD & CEO of AU Small Finance Bank, said, “Climate change is a big challenge for the world, and India is taking important steps to address it. We’re proud to be one of the first banks to introduce the ‘Planet First – AU Green Fixed Deposit’ following the RBI’s guidelines. We want to keep the planet in mind and support eco-friendly projects. By choosing this Green Fixed Deposit, you’re joining a community of customers who care about the environment.”
So, if you want to save money and help the planet at the same time, this Green Fixed Deposit is a great option for you.
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