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 a Mi FD or Mi FD-i Account to earn a promotional interest rate of up to 4.35% 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|
|Mi Fixed Deposit, and Mi Fixed Deposit-i||RM10,000||12 months||4.35% p.a.|
Get a promotional rate of 4.35% p.a. when you deposit a minimum sum of RM10,000 for a tenure of 12 months. You can place a maximum of RM2 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||4.35% p.a.||RM10 million|
OCBC Fixed Deposit Promotion Start & End Date
The promotion is on-going and is valid from 15 November 2018 until 31 December 2018.
The promotion is valid from 15 November 2018 until 31 December 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 upon maturity.
- The deposit must be made in fresh funds only.
- 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.
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.