UBank Green Term Deposit
NAB-owned UBank has launched a new term deposit - called Green Term Deposits - that will be matched to a portfolio of renewable energy projects.
UBank says the term deposits are the first to be certified by the Climate Bonds Initiative (CBI) and will support projects such as wind and solar power, and low carbon transport and buildings.
“Australians are becoming increasingly aware of their ecological footprint and demanding more choice into how their investments impact it," Lee Hatton, UBank CEO, said.
The term deposits have options of 2, 5, 7, 8, 10, or 11-months with a loyalty bonus of 0.1 per cent if those terms are rolled over.