For a minimum investment amount of $5,000, retail investors can now invest into the six-year callable structured deposit.
The deposit pays a fixed interest rate of 1.2% per annum for the first three years and 1.25% per annum for the following three years.
The principal on the structured deposit is fully protected if held to maturity.
See also: Temasek Foundation provides catalytic capital to Indonesian sustainable palm oil replanting pilot
Customers who are keen to invest can do so using cash or their Supplementary Retirement Scheme (SRS) funds.
According to OCBC, global studies have estimated that there is a US$2.5 trillion ($3.38 trillion) gap in sustainable financing each year. The number is said to be around US$160 billion in Southeast Asia.
“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,” says Kenneth Lai, head of global treasury at OCBC Bank.
See also: At COP16, nations back US$200 bil-a-year plan to reverse nature losses
As at 12.40pm, shares in OCBC are trading 3 cents higher or 0.26% up at $11.48.
Photo: Bloomberg
