OCBC Fixed Deposit Accounts are long-term and safe investment instruments. These fixed deposits will help you to maximise your funds with higher interest rates when compared to normal savings accounts. You can earn your profits at maturity or half-yearly based on the amount of money deposited and the tenure chosen.
OCBC Fixed Deposit Interest Rates 2019 (Updated on 24 Mar 2019)
|Tenure (in Months)||Interest Rate (% p.a.)|
Types of OCBC Fixed Deposit Accounts
OCBC Bank Berhad offers 2 types of fixed deposit schemes. They are:
- OCBC MYR Fixed Deposit: This is the basic fixed deposit scheme offered by OCBC. This is open to all Malaysians, permanent residents, and foreigners.
- OCBC Foreign Currency Fixed Deposit: This fixed deposit scheme is for foreign currency deposits. It is available for different tenures starting from a week up to 12 months.
OCBC FD Features and Benefits:
- You can deposit as low as a minimum of RM1,000 for a tenure of 2 months and above.
- You can open a fixed deposit account for just one month by depositing a minimum of RM5,000.
- You can enjoy a flexible fixed deposit tenure that ranges from 1 month up to 60 months.
- You can opt for an overdraft facility on your fixed deposit account whenever you are in need of funds.
- You can open a single or joint fixed deposit account.
- You can withdraw your fixed deposit account prematurely if you choose to.
- You can manage your funds in the fixed deposit account easily with monthly e-statements by using the online banking facility.
- Your funds in this fixed deposit account is protected by PIDM.
- You can open a joint fixed deposit account for 2 or 3 individuals.
- If you are eligible for monthly interest on this fixed deposit account, the interest will be calculated on a daily basis and credited to your savings account every month.
- The fixed deposit is also available in a range of foreign currencies such as USD, SGD, CAD, and NZD among others.
OCBC Fixed Deposit Interest Rates for Foreign Currencies (Updated on 24 Mar 2019)
|Tenure||Interest rates (% p.a.)|
OCBC Fixed Deposit Eligibility Criteria
- Nationality Criteria: The fixed deposit accounts are available to Malaysian citizens, Permanent Residents and foreign nationals.
- Age: The FD accounts are available to depositors aged 18 years and above. For applicants below the age of 18, a MYR In-Trust FD can be opened.
- Deposit Amount: A minimum amount of RM5,000 for a tenure of 1 month and a minimum deposit amount of RM1,000 for a tenure of 2 months or more. For foreign currencies such as AUD, CAD, EUR, NZD, SGD, USD and RMB, the minimum deposit amount is 10,000 Units, for GBP the minimum deposit amount is 5,000 Units and for JPY, the minimum deposit amount is 1,000,000 Units.
Documents required for OCBC Fixed Deposit Account
- Identity Card or Passport
- Identity Card or Birth Certificate (Minor)
- Identity Card or Passport (Parent or Guardian)
- Legal Guardian Certificate (when required)
OCBC Fixed Deposit Account for Foreigners (expats)
Foreigners can open an OCBC MYR fixed deposit account. The interest rates that apply to Malaysian citizens and foreigners differ. The interest tables explained here are indicative interest rates for specific currencies. You can contact the bank directly for the exact interest rates.
OCBC Fixed Deposit Account Fees and Charges
|OCBC MYR Fixed Deposit Account||Fees and Charges|
|Additional Statement||RM10.60 per statement|
When you place a deposit amount of RM10,000 or more in a Mi Fixed Deposit or Mi Fixed Deposit-i account with the bank for 12 months, you can earn a promotional rate of 4.15% p.a. on the deposit amount. The promotion is on-going and ends on 19 February 2019. You are required to place the deposit in fresh funds only.
Place a minimum of RM10,000 in an FD/FD-i Account for 12 months to earn a promotional rate of 4.15% p.a. The interest/profit is paid to you on maturity. The promotion is valid from 1 January 2019 until 19 February 2019. The deposit account is subject to auto-renewal upon maturity. The deposit amount must be in fresh funds.
|Participating Products||Minimum Deposit Amount||Tenure||Promotional Rate||Maximum Deposit Amount|
|Fixed Deposit/Fixed Deposit-i||RM10,000||12 months||4.15% p.a.||RM10 million|
OCBC Bank and OCBC Al-Amin Bank have together come up with a Chinese New Year Eve Promotion. Open an FD/FD-i account with the bank and make a minimum deposit of RM1,000 for 2 months. Upon fulfilling the criteria, you can get a promotional rate of 3.98% p.a. on the deposit amount.
|Participating Products||Minimum Deposit Amount||Tenure||Promotional Rate|
|Fixed Deposit and Fixed Deposit-i||RM1,000||2 months||3.98% p.a.|
The promotion is valid for just one day, i.e. 4 February 2019. The bank reserves the right to revise the minimum deposit amount any time. You will not receive any interest/profit if you make a premature withdrawal. The interest/profit will be paid to you upon maturity.
How to open an OCBC Fixed Deposit Account?
Visit your nearest branch of OCBC with the deposit amount and the required documents. OCBC staff will help you to open an OCBC MYR fixed deposit account.
OCBC Fixed Deposit Contact Number
You can call the Contact Centre at 03-8317 5000.
Q. What are the terms to open an in-trust fixed deposit account?
A. You can open an in-trust fixed deposit with only one minor beneficiary, but more than one one trustee.
Q. For how many people can I open a fixed deposit joint account?
A. You can open an OCBC fixed deposit joint account for two or more individuals. Each joint account holder must be aged 18 years and above. Each applicant is required to submit his/her identity card or passport at the time of application.
Q. What penalty will I face for premature withdrawal of my fixed deposit?
A. If you withdraw your fixed deposit within first 3 months, then you will not earn any interest on your fixed deposit. If you withdraw it after completing the first 3 months, then you will earn 50% of the earned interest for completed months only.
Q. What are the terms and conditions to use the overdraft facility?
A. It is a standby overdraft facility where you are charged the interest only when you use it. If you wish to apply for this overdraft facility, then you must deposit a minimum of RM5,000. Though you can apply for this overdraft facility, OCBC will have a final say on the approval.
Q. What happens if I do not claim my fixed deposit monies?
A. If you do not claim your fixed deposit monies for more than seven years, then it will be classified as unclaimed monies. OCBC will send you reminder notices in advance so that you can claim your fixed deposit monies.
Other Products offered by OCBC:
Apart from offering Fixed Deposit, OCBC offers other products and services which include: