Nepal Investment Bank introduces “Green Double Fixed Deposit”; Customers to double their savings in 7.5 years
January 2, 2020 | Investopaper
On the occasion of the English new year, Nepal Investment Bank Limited with years of ongoing resolution of being socially responsible has marked the day to inaugurate a product to promote sustainable and climate-friendly investments, putting the planet first in the current scenario whereby the global climatic conditions are worsening.
The product “Green Double Fixed Deposit” is a deposit product with a lock-in duration of 7 and a half years whereby the depositors will enjoy the benefit of having their deposit amount doubled at the end of the period because of the product’s cumulative nature. Furthermore, it’s not just the doubling of the deposit amount that is the main feature of the product but the deposits collected from the scheme to be invested in green projects ranging from renewable energy to green buildings to climate-smart agriculture to clean transportation and pollution prevention aiming to provide the depositors with a sense of satisfaction of being a part of a global movement. The range of the investments is purely initiated to put forth a step in moving towards carbon neutralization in the nation and providing support to the global, climate change concern based initiations.
Also, some more benefits for the Green Double Fixed depositors include a 50% waiver on the issuance of credit cards and up to 100% loan facility against the Green Double FD after 1.5 years of placing the deposit. The bank claims that the support from the public towards the product will create an immense impact on our society, the nation and the world as a whole.
