• 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 4.20% 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 4.20% 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.

    Promotion 3:

    Get a promotional rate of 4.20% p.a. when you deposit a minimum sum of RM10,000 for a tenure of 12 months. You can place a maximum of RM10 million in the deposit account. The participating products are Fixed Deposit (FD) and Fixed Deposit-i (FD-i) Accounts. The interest/profit will be paid on maturity.

    Participating Products Minimum Deposit Amount Tenure Promotional Rate Maximum Deposit Amount
    Fixed Deposit/Fixed Deposit-i RM10,000 12 months 4.20% p.a. RM10 million

    OCBC Fixed Deposit Promotion Start & End Date

    Promotion 1:

    The promotion is on-going and is valid from 2 October 2018 until 30 November 2018.

    Promotion 2:

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

    Promotion 3:

    The promotion is valid from 2 October 2018 until 30 November 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.

    Promotion 3:

    • The FD/FD-i is subject to auto-renewal upon maturity.
    • The promotional rates are not applicable upon auto-renewal and prevailing board rates will be applicable.
    • The bank reserves the right to revise the terms and conditions of the promotion, such as the minimum deposit amount and the currency.
    • In the case of premature withdrawal before maturity and before 1 January 2019:
      • If the withdrawal is done within the first 3 months, you will not receive any interest/profit.
      • If the withdrawal is done after completing 3 months, you can get half of the specified interest/profit for each completed month.
    • If you make a premature withdrawal after 1 January 2019, you will not receive any interest/profit.
    • The deposit must be made in fresh funds.

    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/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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