Bank of Baroda, one of India’s leading public sector banks, has announced the launch of the bob Earth Green Term Deposit Scheme. The scheme aims to raise deposits that will be used to finance eligible environment-friendly projects and sectors, fostering India’s transition to a green and sustainable economy.
Interest Rates
- Up to 7.15% p.a. on deposits ranging from Rs. 5,000 to Below Rs. 2 Crore.
Tenors & Interest Rates
| Time Period | Interest Rate |
|---|---|
| 1 year (12 months) | 6.75% |
| 1.5 years (18 months) | 6.75% |
| 777 days | 7.15% |
| 1111 days | 6.40% |
| 1717 days | 6.40% |
| 2201 days | 6.40% |
Allocation of Funds and Eligible Sectors
Allocation: Funds raised will be allocated to eligible green projects/sectors such as:
- Renewable Energy
- Clean Transportation
- Sustainable Water and Waste Management
- Energy Efficiency
- Climate Change Adaptation
- Pollution Prevention and Control
- Green Buildings
- Biodiversity Conservation
Accessibility
- Existing and new customers can open a Green Deposit through any Bank of Baroda branch across India.
Previous Initiatives
- Green Initiatives: On Bank of Baroda’s 116th Foundation Day, the Bank launched green initiatives under the name of “bob Earth” to reaffirm its commitment to environmental responsibility.
- Step Forward: The launch of bob Earth Green Deposits represents a continued effort in this direction.