HDFC unveils ‘Green & Sustainable’ FD

Leading mortgage lender HDFC has announced the introduction of ‘Green & Sustainable Deposits’ to safeguard the environment from climate change.

These fixed deposits will be directed towards financing green and sustainable housing credit solutions and services, HDFC said.

With a deposit period of 36-120 months, both residents and NRIs can invest in this instrument that will offer interest rates up to 6.55% p.a. “Senior citizens will be eligible for an additional 0.25% p.a. on deposits up to ₹2 crore. Additional ROI of 0.10% p.a. will be applicable on these deposits up to ₹50 lakh per calendar month per customer if placed/renewed through our online platform,” the lender added.

Chairman Deepak Parekh said anticipating growing demand for green solutions, the mortgage lender had unveiled the FDs for customers “who can grow their wealth while they contribute to serve the needs of a changing world.”

Managing director Renu Sud Karnad said, “Our deposits are aligned with UN’s Sustainable Development Goals and it will also empower our depositors to direct their investments to financial solutions that have a positive impact on the environment and the society at large.”

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