Bank of Baroda on Monday (March 11) announced the launch of the bob Earth Green Term Deposit Scheme, with the aim to raise deposits that will be deployed towards financing eligible environment-friendly projects and sectors.
On the same, bank is offering interest rates of up to 7.15% p.a.
The General Public/Resident Indians, NRIs and High Net worth Individual (HNI) investors are all eligible to invest in the bob Earth Green Term Deposit scheme.
The bob Earth Green Term Deposit Scheme: Tenors and Interest Rates
| Tenors | Amount₹5,000 to below ₹2 crore |
| bob Earth Green Deposits(% p.a.) |
| 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 |
Shri Debadatta Chand, Managing Director & CEO, Bank of Baroda said, “The launch of the bob Earth Green Term Deposit Scheme offers depositors dual benefits of stable and secure financial returns and the opportunity to contribute to a greener planet."
The funds raised through bob Earth Green Term Deposits will be allocated to eligible green projects/sectors such as Renewable Energy, Clean Transportation, Sustainable Water and Waste Management, Energy Efficiency, Climate Change Adaptation, Pollution Prevention and Control, Green Buildings, Biodiversity Conservation etc.
Existing and new customers of Bank of Baroda can open a Green Deposit through any of the Bank’s branches across India.
