YES Bank has launched a deposit scheme that offers 8% interest rate for a tenure of little over 18 months. The scheme, called Green Future Deposit, is expected to garner some Rs 1000 crore. The launch coincides the World Environment Day. The bank said the deposit account can be opened for 18 months and 8 days to 18 months and 18 days, with peak interest rate of 7.5% per annum for a regular Green Future. For senior citizens, the account will offer an interest rate of 8% per annum. Rana Kapoor, MD & CEO of the bank, said the new Green Future Deposit is first of many green retail products that will be launched by the bank in this financial year. The bank 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.
