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The deposits will carry interest rates up to 6.55% while the maturity period would vary from three to five years
Mortgage firm Housing Development Financial Corporation Ltd (HDFC), on Monday, said it has launched green and sustainable deposits with an aim to safeguard the environment from climate change. These fixed deposits will be directed towards financing of green and sustainable housing credit solutions and services, HDFC said in a statement.
The deposits will carry interest rates up to 6.55% while the maturity period would vary from three to five years. While senior citizens (60 years and above) would be eligible for an additional 0.25% per annum on deposits up to Rs 2 crore.
HDFC to focus on the sustainable green low carbon economy
Talking about the new product, HDFC chairman Deepak Parekh said “Today, sustainability is no longer about doing less harm, but about doing more good.”
He also added that 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 serving the needs of a changing world.
Further, HDFC is committed to supporting India’s efforts for a sustainable and green low-carbon economy, he said.