Target to raise up to Rs. 1,000 crore via this novel product offering
‘Green Future: Deposit’ to offer best-in-class interest rate of 8%*
YES BANK to earmark equivalent proceeds raised through Green Future: Deposit towards Sustainable Development Goals (SDGs) aligned sectors
Mumbai, June 05, 2018: YES BANK, India’s fourth largest private sector Bank, announced the launch of the first-ever green deposit product on World Environment Day today. YES BANK will earmark equivalent proceeds raised through Green Future: Deposit towards Sustainable Development Goals (SDGs) aligned sectors, which contribute to nation’s growth and safeguard our future. Also, for every Green Future: Deposit opened, YES BANK will contribute a Money Plant.
As a special customer benefit, the Green Future: Deposit can be opened for a tenure of 18 months and 8 days to 18 months and 18 days, with best-in-class peak interest rate of 7.50% p.a. for regular Green Future: Deposits and 8.00%* p.a. for Senior Citizens. The Green Future: Deposit can only be opened through YES BANK NetBanking and YES Mobile banking application, making the process entirely paperless, thereby helping create a sustainable future.
Speaking on the launch, Rana Kapoor, Managing Director & CEO, said, “YES BANK has established itself as India’s pre-eminent Green Bank with pioneering initiatives in the Sustainable Finance domain. YES BANK has been a strong proponent of sustainable banking and has been at the forefront of supporting the ‘Green Good Deeds’ campaign that was recently launched by the Government of India. The new Green Future: Deposit is an important step in this direction, and the first of many green retail products that will be launched by YES BANK in this financial year.”
YES BANK has launched a series of initiatives around World Environment Day. YES BANK is the only Indian Bank supported by UN to align global banking sector with SDGs & Paris Climate Agreement. YES BANK is also the first and the only Indian bank to support Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD). In the 5th year of Environment Management Policy implementation, YES BANK has successfully completed certification audit of 744 YBL locations and now has the highest number of its facilities under the EMS ambit in the banking sector globally. YES BANK has also initiated a pilot project for recycled dry waste generated at facilities and has recycled close to 9.5 tonnes of dry waste, resulting in 27.35 MT of carbon footprint reduction every quarter.
About YES BANK
YES BANK, India’s fourth largest private sector bank is a high quality, customer centric and service driven Bank. Since inception in 2004, YES BANK has grown into a ‘Full Service Commercial Bank’ providing a complete range of products, services and technology driven digital offerings, catering to corporate, MSME & retail customers. YES BANK operates its Investment banking, Merchant banking & Brokerage businesses through YES SECURITIES and its Mutual Fund business through YES Asset Management (India) Limited, both wholly owned subsidiaries of the Bank. Headquartered in Mumbai, it has a pan-India presence across all 29 states and 7 Union Territories in India including an IBU at GIFT City, and a Representative Office in Abu Dhabi.
For more information, please visit the Bank’s website at http://www.yesbank.in/
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