• Bank of China FD Promotion

    Enjoy high-interest rates on your FD account based on the promotion rolled out by Bank of China Malaysia (BOCM). The bank offers you the freedom to choose the currency you want to place the deposit in. The bank follows a tiered format on defining interest rates.

    Bank of China FD Promotion Mechanics

    Choose the currency you wish to place the FD from the available options of Malaysian Ringgit (MYR), Chinese Yen (CNY) and US Dollars (USD). The bank requires you to place the deposit for a tenure of 12 months to get the benefits of the promotion. The interest rates vary based on the currency chosen and the deposit amount. Also, you may get a slightly higher interest rate if you are a new customer as compared to an existing customer.

    Refer the table below for more information on promotional rates:

    MYR Rates:

    Minimum Deposit Amount Customer Type Promotional Rate (% p.a.)
    RM5,000 Existing Customers 4.28
    RM5,000-RM149,999 New Customers 4.28
    RM150,000 or more New Customers 4.40

     

    CNY Rates:

    Minimum Deposit Amount Customer Type Promotional Rate (% p.a.)
    CNY10,000 Existing/New Customers 3.78

     

    USD Rates:

    Minimum Deposit Amount Customer Type Promotional Rate (% p.a.)
    USD5,000 Existing/New Customers 2.80

    FD Promotion Start & End Date

    The campaign began on 1 April 2018 and is valid until 31 July 2018.

    Promotion Terms & Conditions

    • Only individual customers are eligible for the promotion.
    • Deposits must be made using fresh funds.
    • If you choose a currency other than MYR, then the deposit amount must be converted from MYR into CNY or USD based on the prevailing TT Rate.
    • You have to nominate a CASA, CNY Demand Deposit Account or USD Demand Deposit Account in order to get the interest credited.
    • The interest will be credited only upon the maturity of the FD.
    • Partial withdrawal is not allowed.

    FAQs

    Q. I have a current account with BOCM. But I have not placed an FD before. Am I eligible to get 4.40% p.a. on my FD account?

    A. No. You are not eligible to enjoy 4.40% p.a. on your FD account. Only customers who do not have an account with BOCM prior to the promotion period can earn an interest rate of 4.40% p.a. on deposit amount of RM150,000 or more.

    Q. What happens if I withdraw the FD within the first 3 months of the placement?

    A. You will not receive any interest component on the FD irrespective of the currency you had chosen.

    Q. Can I transfer the deposit amount from an existing FD account held with BOCM?

    A. No. The bank requires you to place the deposit in fresh funds i.e., transferred or credited from another bank in the form of cash, GIRO transfer, cheque or any other means.

    Q. Is the FD placement eligible for PIDM protection?

    A. Yes. BOCM’s FD is eligible for PIDM protection.

    Q. Does the bank offer interest if I withdraw the FD after the first 3 months?

    A. If you place the deposit in MYR, then you get half of the interest payable on the number of completed months. Alternately, if you place the deposit in CNY or USD, then you will not receive any interest on your deposit amount.

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