OCBC Bank announces first sustainability-linked deposit in Singapore

The deposit has a required minimum investment amount of $5,000.

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.

At a minimum investment amount of $5,000, investors can opt into the six-year callable Structured Deposit. 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. If held to maturity, the principal on this structured deposit is fully protected.

Products covered by the initiative include life insurance, unit trusts, equities, and ETFs portfolios on OCBC Roboinvest.

Interested customers can invest through any OCBC Bank branch or through their relationship manager.

Kenneth Lai, Head of Global Treasury, said that these efforts were due to diversification of their sustainability efforts.

“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. 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.

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