• OCBC FD Promotion

    OCBC Bank and OCBC Al-Amin Bank has come up with the Bonus on Bonus Campaign on Mi Fixed Deposit (FD)/Mi Fixed Deposit-i (FD-i) accounts. Another ongoing campaign is specifically designed for Premier Banking members. Read through the details of the promotions and make the most of it.

    OCBC Fixed Deposit Promotion

    Promotion 1:

    Place a deposit amount of RM10,000 or more in an Mi FD, Mi FD-i, or FD-i Account to earn a promotional interest rate of up to 4.15% p.a. The promotional rates are applicable only when you choose a deposit tenure of 12 months.

    Participating Products Minimum Deposit Amount Deposit Tenure Promotional Rate
    Fixed Deposit-i, Mi Fixed Deposit, and Mi Fixed Deposit-i RM10,000 12 months 4.15% p.a.

    Promotion 2:

    Place a minimum of RM25,000 in Mi FD-i for a tenure of 3 months to earn a promotional rate of 6.08% p.a. Simultaneously, you have to place a minimum deposit of RM50,000 in your Premier Booster Account-i to get high returns of up to 4.26% p.a. The details of the promotion is given in the tables below:

    Mi FD-i Tenure Minimum FD-i Amount Promotional Rate Maximum FD-i Amount
    3 months RM25,000 6.08% p.a. RM3 million or half of the PBA-i balance, whichever is lower.
    Minimum Deposit in PBA-i PBA-i Account Balance Promotional Rate
    RM50,000 RM200,000 or less 2.36% p.a.
    RM200,000-RM3 million 4.26% p.a.
    RM3 million-RM10 million 4.10% p.a.
    RM10 million and above 3.93% p.a.

    An amount that is twice the Mi FD-i balance will be earmarked for 3 months in the PBA-i Account.

    OCBC Fixed Deposit Promotion Start & End Date

    Promotion 1:

    The promotion is on-going and is valid from 1 August 2018 until 31 August 2018.

    Promotion 2:

    The promotion commenced on 1 July 2018 and is valid until 30 September 2018.

    OCBC Fixed Deposit Promotion Terms & Conditions

    Promotion 1:

    • The deposit will be automatically renewed upon maturity. The FD board rates will be applicable upon renewal and not the promotional rates.
    • If you make a premature withdrawal before 1 January 2019 and
      • Before the completion of the first 3 months, then no interest is paid.
      • After completing the first 3 months, you will receive 50% of the promotional rate for each completed month.
    • If you make a premature withdrawal after 1 January 2019, interest will not be paid regardless of the number of months completed.
    • Interest will be paid on a monthly basis.
    • The deposit must be made in fresh funds only.

    Promotion 2:

    • The amount you place in the Mi FD-i Account must be in fresh funds.
    • An amount equivalent to 2 times of the Mi FD-i placement will be earmarked for the PBA-i account during the deposit tenure.
    • If you are not an existing PBA-i Account, you have to open a new account to be eligible for the promotion.
    • If you uplift/withdraw the Mi FD-i Account, the earmarked amount in your PBA-i Account will be released.
    • Upon uplifting/withdrawing the Mi FD-i Account before maturity, you will not receive any profit on your Mi FD-i Account. Also, board rates will be applicable on your PBA-i Account balance.
    • The promotional benefits are not provided if your Mi FD-i Account is subjected to a security interest.

    FAQs

    Q. What is the prevailing board rates applicable to the participating FD products?

    A. The prevailing board rates for the participating products are:

    • Mi FD/Mi FD-i—3.00% p.a. as updated on 22 June 2018 for a 3-month tenure and 3.25% p.a. for a 12-month tenure.
    • FD-i—3.25% p.a. as updated on 22 June 2018 for a 12-month tenure.

    Q. Is there a maximum deposit amount specified for the promotion 1?

    A. Yes. The maximum deposit amount specified by the promotion 1 is RM10 million.

    Q. Does Perbadanan Insurans Deposit Malaysia (PIDM) cover the Mi FD/-i?

    A. Yes. PIDM insures the money you have deposited in your OCBC Mi FD/-i Account. When it comes to the second promotion, the PBA-i Account is also insured by PIDM.

    Q. Can I approach any OCBC branch to open the Mi FD/-i Account?

    A. Yes. You can visit any OCBC Bank branch to open an Mi FD/-i Account except the Xpress branch.

    Q. What do fresh funds mean?

    A. Fresh funds are the funds transferred from a bank/financial institution other than OCBC/OCBC Al-Amin Bank. Such funds must be deposited into an account maintained with OCBC/OCBC Al-Amin Bank not earlier than 7 days from the date of deposit placement.

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