YES BANK launches Green Future: Deposit, India’s first ever green deposit product

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 5^th 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.