What is a Green Deposit?
Green Deposit is a unique Fixed Deposit designed to give returns to you and Planet Earth. Funds received through Green Deposits will be deployed for environment friendly projects. While saving for your future, you can participate to save our earth too !
What is the importance of Green Deposit in Financial System?
Bank has already put in place ‘The Environmental and Social Management System Policy’ for all loans extended by Bank. As an environmentally mindful and socially responsible institution, Federal Bank is also committed to build a green portfolio. Many customers are now consciously choosing to invest their money that support the ‘Green’ cause. Bank is coming out with a Green Deposit Scheme to fulfil such customer interests and augment our efforts to build a green portfolio.
What is the tenure of Federal Bank Green Depost?
Tenure of Federal Bank Green Deposit is 2222 days.
What is the Eligibility for Green Deposit?
The following people are eligible to open a Federal Bank Green Deposits account -
- Individuals with other individuals for a joint account
- Minors under guardians
- Joint Stock Companies
- Any other organization not prohibited by RBI
What is the key feature of a Green Deposit?
The investment in Green Deposit will go towards financing eligible businesses and projects that promote the transition to a low-carbon, climate-resilient, and sustainable economy.
What is the interest rate on Green Deposits?
To view the interest rates on Green Deposits, please click here.
Does Federal Bank Green Deposits offer a nomination facility?
Yes, nomination facility is available for Federal Bank Green Deposits.
Can I open my Federal Bank Green Deposits offline?
Yes, you can open your Federal Bank Green Deposits offline by visiting any of our branches.