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Business News/ Money / Personal Finance/  Bank of Baroda launches special FD scheme with attractive rates: 5 things to know about bob Earth Green Term Deposits
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Bank of Baroda launches special FD scheme with attractive rates: 5 things to know about bob Earth Green Term Deposits

Bank of Baroda's BOB Earth Green Term Deposits offer attractive interest rates on various tenors, allowing depositors to contribute to India's green economy

Under the bob Earth Green Term Deposit Scheme, the Bank of Baroda has introduced some innovative tenures.Premium
Under the bob Earth Green Term Deposit Scheme, the Bank of Baroda has introduced some innovative tenures.

Bank of Baroda has introduced the BOB Earth Green Term Deposit Scheme to gather funds for eco-friendly projects. Both existing and new customers can open a Green Deposit at any Bank of Baroda branch in India.

Debadatta Chand, Managing Director & CEO, of Bank of Baroda said, “The Bank has taken great strides in embedding sustainability into its operations, including our approach to risk management, governance, social responsibility, and environmental impact. The launch of the Bob Earth Green Term Deposit Scheme offers depositors the dual benefits of stable & secure financial returns and the opportunity to contribute to a greener planet. As one of India’s leading banks, Bank of Baroda is committed to furthering its ESG mandate and enhancing its green financing portfolio."

Here are five things to know about Bob Earth Green Term Deposit Scheme

1)The bob Earth Green Term Deposits offer depositors the opportunity to earn attractive interest rates on a range of tenors and participate in India’s transition to a green and sustainable economy. 

2)The bank offers interest rates up to 7.15% p.a. Eligible investors include the general public, resident Indians, NRIs, and high-net-worth individuals (HNIs) for the BOB Earth Green Term Deposit scheme.

3) Tenors Amount

5,000 to Below 2 Crore

4)The bob Earth Green Term Deposit Scheme:  Interest Rates

1 year i.e. 12 months 6.75

1.5 years i.e. 18 Months 6.75

777 days 7.15

1111 days 6.40

1717 days 6.40

2201 days 6.40

5)Under the bob Earth Green Term Deposit Scheme, the Bank of Baroda has introduced some innovative tenures that act as a reminder of the planet’s Climate & Sustainability goals, such as a tenure of 1.5 years – signifying the aim to limit global temperature rise to 1.5 degrees Celsius above pre-industrial levels and Tenure 1717 days – doubly emphasizing the United Nations’ 17 Sustainable Development Goals, the bank said in a release.

In January 2024, the State Bank of India (SBI) introduced a unique fixed deposit (FD) scheme called the SBI Green Rupee Term Deposit (SGRTD). This initiative aims to gather funds to endorse eco-friendly projects, nurturing a green finance environment in India, as stated in the bank's official release.

 

 

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ABOUT THE AUTHOR
Sangeeta Ojha
A business media enthusiast. Writes on personal finance, business and banking.
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Published: 12 Mar 2024, 01:12 PM IST
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