OCBC Bank Fixed Deposit Malaysia

As one of the biggest banks in Malaysia, you must have heard about OCBC Bank. Or, maybe you are one of their customers. Whatever it is, you know the bank is prominent with its excellent service. Aside from personal conventional saving account, it turns out this bank also offers fixed deposit account for its customers.

OCBC Bank Fixed Deposit Malaysia

What is fixed deposit account, anyway? To be simply said, a fixed deposit is the conventional saving account that’s granted with a higher interest rate. However, unlike your day-to-day saving account, it is better to keep the money on deposit and not withdraw it even once. That is the basic rule.

However, it’s not like you are depositing your money there forever. There is a term called as tenure that OCBC Bank fixed deposit Malaysia and other banks’ fixed deposit offers. Tenure is simply defined as the length of time (usually in months) in which you should not withdraw your money. If you do the otherwise, it may result in reduced interest rate or even interest cancellation, depending on the bank’s policy itself. Generally, banks offer 1-60 months of tenure, and so does OCBC.

OCBC Bank Fixed Deposit Malaysia

Fixed Deposit

DepositDurationInterest rates (a year)
RM 5,0001 – 2 months1,35%
RM 1,0003 months1,45%
RM 1,0004 – 5 months1,55%
RM 1,0006 months1,6%
RM 1,0007 - 11 months1,7%
RM 1,00012 months1,75%
RM 1,00013 months - 17 months1,8%
RM 1,00018 months and above1,85%

MYR Fixed Deposit/-i Rates

DescriptionCurrent Rate ( % per annum )Currency
1 Month1,35% MYR
2 Months1,35% MYR
3 Months1,45% MYR
4 Months1,55% MYR
5 Months1,55% MYR
6 Months1,6% MYR
7 Months1,7% MYR
8 Months1,7% MYR
9 Months1,7% MYR
10 Months1,7% MYR
11 Months1,7% MYR
12 Months1,75% MYR
13 Months1,8% MYR
14 Months1,8% MYR
15 Months1,8% MYR
16 Months1,8% MYR
17 Months1,8% MYR
18 Months1,85% MYR
19 Months1,85% MYR
20 Months1,85% MYR
21 Months1,85% MYR
22 Months1,85% MYR
23 Months1,85% MYR
24 Months1,85% MYR
25 Months1,85% MYR
26 Months1,85% MYR
27 Months1,85% MYR
28 Months1,85% MYR
29 Months1,85% MYR
30 Months1,85% MYR
31 Months1,85% MYR
32 Months1,85% MYR
33 Months1,85% MYR
34 Months1,85% MYR
35 Months1,85% MYR
36 Months1,85% MYR
37 Months1,85% MYR
38 Months1,85% MYR
39 Months1,85% MYR
40 Months1,85% MYR
41 Months1,85% MYR
42 Months1,85% MYR
43 Months1,85% MYR
44 Months1,85% MYR
45 Months1,85% MYR
46 Months1,85% MYR
47 Months1,85% MYR
48 Months1,85% MYR
49 Months1,85% MYR
50 Months1,85% MYR
51 Months1,85% MYR
52 Months1,85% MYR
53 Months1,85% MYR
54 Months1,85% MYR
55 Months1,85% MYR
56 Months1,85% MYR
57 Months1,85% MYR
58 Months1,85% MYR
59 Months1,85% MYR
60 Months1,85% MYR

Aside from knowing the tenure, you should know how much that you’ll get by depositing your money there. According to the bank’s official website, the current rate is 1.35% – 1.85% per annum. Per annum means that the rate is set for a whole year of deposit. The longer you deposit your money, then the better interest amount you are getting.

The other additional information you should know regarding this is the minimum deposit requirement. As their official website said, the minimum deposit for one-month tenure is the largest, which is RM 5,000. The rest of the categories will take you RM 1,000 only to open your OCBC Bank fixed deposit Malaysia account. Aside from saving in Malaysian Ringgit, you can also save in other currencies as well.

Before opening your deposit account, you must know that there are requirements that you should complying. You have to be 18 or older to open a deposit account, and you must be able to provide supporting documents that show you are already on the legal age. Another supporting document such as utility bills, driving license, or letter of employment can be provided as well. To open your deposit account, here is what you should do

How to apply for a fixed deposit in OCBC Bank

  1. Go to the nearest OCBC Bank branch carrying all required documents and your money as well.
  2. Queue for the customer service. When it’s your turn, tell the officer that you want to open a fixed deposit account.
  3. The officer will then explain about the product. Ask your inquiries about the deposit and make sure you understand about it well.
  4. Lastly, complete all processes to open your deposit account.