A shelf of green fixed deposits that checks where each bank lent the money
TL;DR Verdeposit lists green fixed deposits from Indian banks and deposit-taking NBFCs, and turns each lender's yearly allocation report into a plain summary of what the money funded. Savers who want their cash in climate projects get a simple, RBI-regulated option. Banks pay a distribution fee.
Say you're a salaried saver in Pune and you want your money to do some climate good. Honest options are thin on the ground. India's carbon market is built for companies, and the Indian Carbon Market registry lists obligated entities, project developers, purchasers and verifiers as its user types, with no category for individuals[1]. Climate funds and bonds ask you to judge labels you can't check.
Green deposits are the plain alternative. RBI let banks raise them from June 2023, with rules on what the money may fund[2]. But the products sit inside each bank's own site, and the reports that show where the money went are buried deep in annual accounts.
What it does, in regulatory terms: deposit distribution and information only. Verdeposit never holds customer money and offers no investment advice. Deposits are booked in the saver's name with the bank, as existing fixed-deposit marketplaces already do[3].
The app puts every green deposit it can find on one shelf, with rate, tenor, minimum and whether DICGC cover applies (bank deposits are insured up to ₹5 lakh per bank, NBFC deposits are not)[3]. Next to each one sits a page built from the lender's own disclosures. RBI requires each lender to publish a board-approved green deposit framework, get an external review, have its allocation verified every year and, from 2024-25, report on impact[2]. Verdeposit reads those documents and shows the mix - how much went to solar, transport or green buildings, and how much is still parked in liquid instruments.
The original idea was fractional ownership of carbon credits. Individuals can't register in India's carbon market[1], and selling slices of a credit pool to the public with a promised return could get treated as a collective investment scheme under SEBI rules[4]. A green deposit gets you the same intent through a product the law already allows.
The saver pays nothing. The lender pays a fee for each deposit booked, which is how FD marketplaces earn today, but the size of that fee isn't public, so treat my plan as an assumption. The best early users are salaried savers aged 25–45 who already book FDs online, plus NRIs, since SBI's green deposit accepts NRO and NRE money[5]. Later on, small lenders may pay to have their allocation summary written up well.
The RBI framework made impact assessment mandatory from 2024-25[2], so lenders now have at least one full year of reports to compare. SBI's green term deposit starts at ₹1,000 and, from May 2026, pays the same card rate as an ordinary FD[5]. That kills the usual complaint that going green means earning less.
There's no public figure for the total raised through green deposits in India. The closest signal is behaviour. One FD marketplace says it has more than 60 lakh users across 3,500+ cities[3], which shows savers will happily book deposits through an app that isn't their bank. Whether a green label changes their choice is the thing you have to test.
FD marketplace apps sell FDs from lots of banks and NBFCs, but I found no green filter or allocation summaries on the biggest one's site[3]. SBI sells its own green deposit directly[5], and other lenders may do the same. I found no Indian service that compares green deposits across lenders and reads their allocation reports for the saver.
| Difficulty | Moderate (37/100) |
| Starting capital | ₹50–90 L |
| Time to launch | 6–9 months |
The app itself is ordinary. Signing lenders is the slow part, because each bank or NBFC needs its own distribution agreement and integration, and big banks rarely bother with a small partner. The second hard part is reading allocation reports fairly without accusing a lender of greenwashing on thin evidence.
You don't need a banking licence, but you do need each lender's distribution agreement before you list a deposit.
Building this outside India? The categories above usually have a local equivalent, so check with your own regulator.
AI shouldn't tell a saver which deposit to pick. That edges into advice, and a misread allocation report would mislead people about where their money goes.
Want to work out the AI layer for Verdeposit? Talk to Yash →
Here's what can go south -
It's worth a try if you come from retail banking or FD distribution, can sign lenders and see this as a niche brand that might get acquired later. If you're hoping to build a carbon-trading business then this isn't it. Prove first that 10 lenders will list and that at least 1 in 5 savers on the shelf picks a green deposit over a slightly higher plain one.
My estimate is ₹50–90 L, covering the app, lender integrations, the research on each framework and early marketing. The kit has the full breakdown.
Not a banking licence. You work as each lender's distributor with KYC and money staying with them, and you need AMFI and SEBI registrations if you add funds or bonds.
Possibly, if banks there offer green deposits with published reports. Distribution rules for deposits vary, so check with your own banking regulator first.
The free Verdeposit validation kit has the line-by-line capital breakdown, the effort scoring, the deposit-distribution and data-protection checklist, a 14-day validation sprint with pass/fail targets, a 90-day launch plan, 10 interview questions for savers and lenders, and 5 assumptions to test. Download the kit →
Thinking about building Verdeposit or something close to it? The make-or-break work is getting enough lenders onto the shelf before savers arrive, and I'm happy to help you plan that first round of lender pitches. If you need a hand, you know where to find me. Talk to Yash →
For illustration only. Names are fictional and ideas hypothetical; sourced facts are real but may be out of date. Nothing here is legal, financial or professional advice, and Yash Khatri is not personally liable for any use of it. Read the full disclaimer.