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
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.|
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
The promotion is on-going and is valid from 1 August 2018 until 31 August 2018.
The promotion commenced on 1 July 2018 and is valid until 30 September 2018.
OCBC Fixed Deposit Promotion Terms & Conditions
- 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.
- 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.
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.