This structured deposit gives our customers a chance to invest in a meaningful product and signal their desire to contribute to a more sustainable world,” Lai said. “There is a lot more that banks can do to drive sustainability and we are looking at more ways to provide and promote to our clients solutions and investment products relating to sustainability.
Kenneth Lai, Head of Global Treasury, said that these efforts were due to diversification of their sustainability efforts. Interested customers can invest through any OCBC Bank branch or through their relationship manager. The bank offers a range of financial products and services to individuals. Products covered by the initiative include life insurance, unit trusts, equities, and ETFs portfolios on OCBC Roboinvest. A fixed deposit rate (also known as time deposit rate) is an interest rate that a bank or financial institution pays to a depositor of a fixed deposit account holder. If held to maturity, the principal on this structured deposit is fully protected.
A fixed interest rate of 1.2% per annum for the first three years, whilst a 1.25% annum for the following three years will be applied.
OCBC Bank announced that a sustainability-linked structured deposit, the first of its kind in Singapore, will be made available for investing to the general public.Īt a minimum investment amount of $5,000, investors can opt into the six-year callable Structured Deposit. The deposit has a required minimum investment amount of $5,000.
