Now you can earn up to 8% return on this deposit scheme by YES Bank

Private sector lender Yes Bank launched a deposit scheme on Tuesday, which could fetch up to 8 per cent for a tenure of little over 18 months.

The bank is eyeing Rs 1,000 crore from the scheme 'Green Future:Deposit' in next three months. The launch coincides the World Environment Day.

The bank said in a statement that this deposit account can be opened for 18 months and 8 days to 18 months and 18 days, with peak interest rate of 7.50 per cent per annum for a regular Green Future.

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For senior citizens, the account will offer an interest rate of 8 per cent per annum.

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Rana Kapoor, Managing Director & CEO, said the new Green Future: Deposit is first of many green retail products that will be launched by Yes Bank in this financial year.

Besides, the bank said it has initiated a pilot project for recycled dry waste generated at facilities and has recycled close to 9.5 tonne of dry waste, resulting in 27.35 MT of carbon footprint reduction every quarter.