After State Bank of India, Bank of Baroda has also said they are starting something new called the BoB Earth Green Term Deposit Scheme.
This is for special projects that help the environment. They want to collect money from people to fund these projects.
Bank of Baroda has said they are starting something new called the BoB Earth Green Term Deposit Scheme.
This is to collect money that will be used to fund projects that help the environment.
Additionally, the bank is offering interest rates of up to 7.15% per year.
Anyone can invest in the BoB Earth Green Term Deposit Scheme, including the general public, Resident Indians, NRIs, and High Net Worth Individuals (HNI) investors.
What are Green Deposits?
Mr. Debdutt Chand, who leads Bank of Baroda, said that starting the BOB Earth Green Term Deposit Scheme is good for people who put money in the bank.
They can get stable and safe financial benefits and help make the planet greener.
Where will the money be used?
Money collected from BOB Earth Green Term Deposit goes to special projects that help the environment.
These projects include things like renewable energy, clean transportation, saving water, managing waste, using energy better, dealing with climate change, stopping pollution, making eco-friendly buildings, and protecting nature.
Who can open an account?
Anyone who already has an account with Bank of Baroda or is a new customer can open a Green Deposit at any branch of the bank in India.
What will be the tenure of the deposit?
Bank of Baroda has added a special time period for Bob Earth Green Term Deposit. The time for this is 1 year, 6 months, and 17 days.
Bank of Baroda Regular FD Rates
Bank of Baroda gives different interest rates, which can be from 4.25% to 7.25%, for regular people who deposit less than Rs 2 crore.
You can choose a time period for your deposit, which can be from 7 days to 10 years.
