Which bank has launched its  first Green Fixed Deposit (FD) called ‘Planet First' to support renewable and green projects like solar power, electric vehicles & offers an interest rate of up to 8.50 per cent, with a minimum investment requirement of only Rs 5,000?

Solution

AU Small Finance Bank (AU SFB) has launched its first Green Fixed Deposit (FD) called ‘Planet First – AU Green Fixed Deposit’ to support renewable and green projects like solar power, electric vehicles etc.  It pays interest to deposit holders and comes with a fixed tenure. However, proceedings from deposits get earmarked for allocation to green finance, supporting renewable and green projects. The Planet First - AU Green Fixed Deposit offers an interest rate of up to 8.50 per cent, with a minimum investment requirement of only Rs 5,000.