The new deposit scheme launched by Yes Bank could fetch you an interest up to 8 percent for a tenure of a little over 18 months.
With the aim to gather Rs 1,000 crore as a part of its green mission, the Mumbai-based private bank launched a 'Green Future: Deposit' scheme on June 5, coinciding with World Environment Day.
In a statement, the bank said this deposit account can be opened for a period of 18 months and 8 days to 18 months and 18 days, with a high-interest rate of 7.5 percent. Senior citizens will be liable for an 8 percent interest on the same. Calculate your expected returns.
The bank also said that the Green Future Scheme is the first among the many green retail products it plans to launch this financial year. It has already initiated a pilot project to recycle dry waste generated at its facilities where it has managed to recycle 9.5 tonnes already that has resulted in 27.35 metric tonnes of carbon footprint reduction every quarter.