HDFC launches green and sustainable fixed deposits; all you need to know

Mortgage firm HDFC on Monday said it has launched green and sustainable deposits with an aim to safeguard the environment from climate change.

What are green FDS

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

These deposits will carry interest rates up to 6.55 per cent while maturity period would vary from three to five years.

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Senior citizens (60 years+) will be eligible for an additional 0.25 per cent per annum on deposits up to Rs 2 crore.

Green solutions

Talking about the new product, HDFC Chairman Deepak Parekh said “Today, sustainability is no longer about doing less harm, but about doing more good."

HDFC anticipates growing demand for green solutions and has launched green and sustainable deposits offering for our customers who can grow their wealth while they contribute to serve the needs of a changing world, he said, adding that HDFC is committed towards supporting India's efforts for a sustainable and green low-carbon economy.