AU Small Finance Bank Launches Green FD, Interest Rates, Benefits & more

AU Small Finance Bank which delivered a strong performance in the June quarter 2023 has now launched a Green FD for its customers. While AU Small Finance Bank isn’t the first one to launch a green FD, it now has added itself to the names of Federal Bank, IndusInd Bank, DBS, HDFC Bank & others. A Green FD at present might be offering even higher interest rates than other Fixed Deposits. Let’s have a look at all the details you should know about AU Small Finance Bank Green FD, benefits, features, and interest rate details.

AU Small Finance Bank has launched a green FD for its customers. The move comes after the bank hinted towards a greener and safer future ahead in its recent Twitter post. On October 25, 2023, AU Small Finance Bank on Twitter said, “Unlock your ECO KARMA and be the change you want to see! Invest in a sustainable future by planting the seeds of growth today with Plant First - AU Green Fixed Deposit. Your financial choice can make a world of difference.”

Unlock your ECO KARMA and be the change you want to see! Invest in a sustainable future by planting the seeds of growth today with Plant First - AU Green Fixed Deposit. Your financial choice can make a world of difference. #PlanetFirst #Sustainability #AUGreenFD #BadlaavHumseHai pic.twitter.com/lryMZFkCi4

— AU Small Finance Bank (@aubankindia) October 25, 2023

1. Funds get invested in greener and sustainable energy sources (solar power, EV, Plastic recycling rainwater harvesting, etc)

2. Earn interest rates up to 8.50% per annum on green FDs (senior citizens) and up to 8% for normal FDs

3. Overdraft facility available

4. Tenure can range between 2 to 5 years

5. Choose between monthly, quarterly, and cumulative (at maturity) payout options

As you can see the AU SFB Green FD is mainly targeted towards investing in greener and sustainable environmentally friendly projects, unlike a normal FD. It does seem like a useful investment to make given the growing need for sustainability today. Just like normal fixed deposits, a green FD is safe to invest in are insured by DICGC. However, it is always advised to conduct your own research before investing.

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The following are the eligibility criteria for a customer to apply for AU Small Finance Bank Green FD:

• Resident and non-resident Indians

• Hindu Undivided Families (HUF)

• Sole proprietorship firms

• Partnership firms

• Limited companies

• Trust accounts

If you are an Indian resident or an Indian living outside the country, you can still apply for the AU SFB Green FD. Additionally, HUF joint families and individuals with partnership businesses and sole proprietorship firms are also eligible to apply. Trust/NGO accounts are also included in the list.

To apply for AU Small Finance Bank Green FD, interested applicants can take the help of video banking services, AU 0101 App, or net banking as well as visit their nearest branch. As per the bank statement, customers need to have only their PAN and Aadhar Card to apply for the AU Small Finance Bank Green FD through video banking.

OR

Recently Axis Bank also launched an Axis numberless credit card. Be sure to read it here:

Indulge your senses with the perfect combo! When you make a transaction using your AU Debit Card between 15th Oct-15th Nov, 2023, you get assured vouchers worth more than Rs. 800.
Offer applicable on all AU Debit Cards.
For more details, visit: https://t.co/FZPMDZpYAD
*T&C apply pic.twitter.com/v9yU1UJ5fk

— AU Small Finance Bank (@aubankindia) October 21, 2023

So this was all about sharing the AU Small Finance Bank Green FD, how you can apply for it, the eligibility criteria, the benefits, and the interest rates. Currently, as compared to HDFC Limited Green & Sustainable Deposit, Federal Bank Fixed Deposit, the AU Small Finance Bank Planet First Fixed Deposit seems to offer a higher interest rate