Key options of HDFC’s Green & Sustainable Deposits
NEW DELHI :
Housing Development Finance Corporation Ltd (HDFC Ltd) has launched its “Green & Sustainable Deposits” with an intention to safeguard the atmosphere from local weather change. These mounted deposits can be directed in the direction of financing of inexperienced and sustainable housing credit score options and providers.
HDFC’s deposits have been rated AAA by each CRISIL and ICRA for the previous 27 consecutive years, and could be positioned conveniently by way of its on-line deposit platform.
According to a press launch issued by the agency, the important thing options of its Green and Sustainable Deposits are: Any Indian particular person, be it a resident or non-resident, is eligible to make these deposits; the interval of deposits ranges from 36 to 120 months; the deposits fetch rates of interest of as much as 6.55% yearly; senior residents (above 60 years) can be eligible for an extra 0.25% every year curiosity on deposits as much as ₹2 crore; extra return on funding of 0.10% every year can be relevant on these deposits as much as ₹50 lakh per calendar month, per buyer if they’re positioned or renewed by way of HDFC’s on-line platform.
Deepak Parekh, chairman, HDFC Ltd, mentioned, “Today, sustainability is not about doing much less hurt, however about doing higher. HDFC anticipates rising demand for inexperienced options and has launched a Green & Sustainable Deposits providing for our clients who can develop their wealth whereas they contribute to serve the wants of a altering world. HDFC is dedicated to supporting India’s efforts for a sustainable and inexperienced low-carbon economic system.”
Renu Sud Karnad, managing director, HDFC Ltd added, “We have always had a successful deposits programme. Though we do not have a target in mind, even a fraction of what we have been raising by way of our regular retail deposits can translate to a reasonable amount. The larger purpose is to provide another product to environmentally conscious customers who also want to contribute towards a better environment and are looking for a dependable platform which can help them contribute to this cause at a very nominal cost and least effort. For example, 10 bps translates to just ₹100 on a deposit of ₹100,000.”
“We have also, as much as possible, used recycled paper for deposit certificates, application forms, and promotional material, and are also encouraging depositors to use our online platform by providing them 10 bps extra on their deposits,” mentioned Karnad.
Subscribe to Mint Newsletters * Enter a sound e mail * Thank you for subscribing to our publication.
Never miss a narrative! Stay linked and knowledgeable with Mint.
Download
our App Now!!
