Green Fixed Deposits: Resident Indian, Non-Resident Indian (NRI) and High Net Worth Individual (HNI) investors are all eligible to invest in GFDs. Here are the banks that offer the highest interest rates on GFD across all tenures. Data is as of March 20, 2024
Green Fixed Deposits: Green fixed deposits (GFD) are different from regular fixed deposits. Funds in the GFD are specifically earmarked for financing green projects and activities, including renewable energy, clean transportation, sustainable water and waste management, energy efficiency, climate change adaptation, pollution prevention and control, green building, biodiversity conservation. Are included. Banks like AU Small Finance, Bank of Baroda, Indian Overseas Bank, SBI are offering green fixed deposits with interest rates of 5.7-8 percent at different tenures.
Resident Indian, Non-Resident Indian (NRI) and High Net Worth Individual (HNI) investors are all eligible to invest in GFD. The rates on GFD are slightly lower in many cases compared to regular FDs. Here are the banks that offer the highest interest rates on GFD across all tenures. The data is till March 20, 2024, taken from BankBazaar.
AU Small Finance Bank
Interest rates on GFD in AU Small Finance Bank range from 6.75 percent to 8 percent. Applicable investment tenure is from 12 to 120 months.
Bank of Baroda
Interest rates on green deposits range from 6.40 percent to 7.15 percent. Applicable investment tenure is 12 months to 2,201 days.
Indian Overseas Bank
This public sector bank offers an interest rate of 6.8 percent on GFD with a tenure of 999 days.
State Bank of India
State Bank of India is offering interest rates of 6.40-6.65 percent on green deposits. Applicable investment tenure ranges from 1,111 to 2,222 days.
South Indian Bank
The interest rate on green deposits in South Indian Bank is 6.5 percent. Applicable investment tenure is 66 months.
Central Bank of India
The interest rates on green deposits in this bank range from 5.70 percent to 5.85 percent. Applicable investment tenure is 1,111 to 3,333 days.
