Why save with OCBC Local Deposit Deal?
Keep the Ringgit rolling in without having to spare a watchful eye! OCBC Local Deposit Deal is a high returns investment offering up to 4.30% interest p.a. on your savings.
When can you start saving? How about right now! With a minimum deposit of at least RM10,000 for either 9 or 15 months you can start to enjoy high interest rates on your investment.
Am I eligible to apply for this fixed deposit?
OCBC Local Deposit Deal is open to all individuals at least 18 years of age - Malaysians, Permanent Residents and Non-Residents. To qualify a minimum deposit of RM10,000 in fresh funds is required, but not exceeding RM10 million.
When do I get to see my profits?
Like any fixed deposit you'll get the interest returns and your principal deposit at maturity - so this depends on whether you chose the 9 months or 15 month deposit.
Withdrawing your fixed deposit before completion of the first 3 months will result in no profits from your investment, while early withdrawals after 3 months will only reward you with 50% of the interest promised.
What are fresh funds?
Just in case you're unfamiliar with what are fresh funds, this is cash that is not already held for safe keeping by OCBC or OCBC Al-Amin.
Withdrawing money from a savings or checking account, or any other investment with OCBC will not qualify you for the special interest rate.
Can I renew my account upon maturity?
Yes, you can! OCBC Bank will renew your fixed deposit automatically with the same tenure, based on the interest rate at the time of renewal. Otherwise, you will need to inform the bank or cash out your money upon maturity.
Is my deposit protected by PIDM?
Yes, deposits of up to RM250,000 will be insured by Perbadanan Insurans Deposit Malaysia.