Yes Bank launches deposit scheme with an eye to raise Rs 1,000 crore

Private sector lender Yes Bank launched a deposit scheme today, which could fetch up to 8 per cent for a tenure of little over 18 months.
The bank is eyeing Rs 1,000 crore from the scheme 'Green Future:Deposit' in next three months. The launch coincides the World Environment Day.

The bank said in a statement that this deposit account can be opened for 18 months and 8 days to 18 months and 18 days, with peak interest rate of 7.50 per cent per annum for a regular Green Future.

For senior citizens, the account will offer an interest rate of 8 per cent per annum.

Rana Kapoor, Managing Director & CEO, said the new Green Future: Deposit is first of many green retail products that will be launched by Yes Bank in this financial year.

Besides, the bank said it has initiated a pilot project for recycled dry waste generated at facilities and has recycled close to 9.5 tonne of dry waste, resulting in 27.35 MT of carbon footprint reduction every quarter. KPM KPM ANU ANU