• OCBC Fixed Deposit Promotion 2016

    Fixed Deposit

    This bank started operations in 1932 in Singapore and is now the longest established bank in Singapore and has acquired assets above and beyond the realm of banking to provide financial solutions to its large base of customers. The innovative banking solutions offered by OCBC cater to consumer banking, business banking and investment banking. Recently, in 2008 OCBC introduced the OCBC Al-Amin Islamic banking wing which offers Shariah Compliant banking products to consumers and also have a treasury division that allows customers to invest their funds and hedge their exposure and assists customers in managing market risks in foreign exchange and interest rates.

    Investment options offered by OCBC include fixed deposits which is a safe bet for first time investors as well as the more experienced investors. These deposits are safe, require no hands on involvement and are hassle free. They guarantee a return upon the vesting period and offer attractive interest rates. These fixed deposits are further clubbed with promotional offers. These offers are designed to attract new customers or fresh funds from existing customers and offer attractive interest rates on fixed deposits. Along with more competitive rates, these offers also provide varying tenure options with lower minimum deposit amounts making it easier for inflow of fresh funds.

    One such promotional offer on fixed deposits from OCBC is the Online fixed Deposit Exclusive offer wherein customers can avail an online fixed deposit which offers attractive interest rates of 4.50% for a tenure of 12 months or 4.30% for a tenure of 6 months. These rates and tenures are applicable only for fresh funds and on conventional fixed deposits. The minimum deposit amount for both tenure options is RM 10,000 with the maximum deposit amount going up to RM 10 Million.

    OCBC FD Promotion

    OCBC offers promotional offers on their fixed deposits which gives higher returns on your deposit.

    Validity

    The promotion is valid from 1st May 2016 till 31st August 2016. The promotion will be available at all OCBC Bank branches.

    Eligibility

    The promotion is open to individual, Malaysian resident, permanent resident and non-residents. The customer should be in a good standing with the bank. The customer will be eligible at the sole discretion of the bank. Customers who have accounts that have been terminated or suspended or breached with OCBC will not be eligible to participate in the FD Promotion.

    Fixed Deposit Rates

    The following are the promotional rates offered to OCBC customers:

    • 8 month tenure FD is offered at 3.20% per annum board rate and the promotional rate is 4.10% per annum. The minimum amount per account is RM10,000 and the maximum amount per account is RM10 million.
    • 12 month tenure FD is offered at 3.25% per annum board rate and the promotional rate is 4.20% per annum. The minimum amount per account is RM10,000 and the maximum amount per account is RM10 million.

    Note: Board rate is as of 8th March, 2016.

    Fresh funds

    The fresh funds are the funds placed under the promotion and they are the funds from a 3rd party bank. The funds are deposited or transferred to Eligible Customer’s account with the bank not more than 7 days prior to the date of participation to the promotion.

    Premature withdrawal

    If you withdraw the funds before completing first 3 months, interest will not be paid. If you are withdrawing funds after 3 months, 50% of the interest will be payable for each completed month.

    Interest payment

    Interest is paid only at the maturity of the term. The FD will be automatically renewed at the end of the term for a similar tenure at the prevailing rate if no instructions are received from the customer.

    Know more about : OCBC Fixed Deposits

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