OCBC Booster Account

Celebrate a meaningful Malaysia with an additional 0.25% p.a. on your savings. Sign up for a new OCBC Booster Account and give your savings a boost when you combine it with your wealth.

For instance, a new Booster Account with an account balance of RM30,000 and qualifies for the Wealth Bonus on the first RM50,000, the Effective Interest Rate for the 3-month MYDeal Promotion is 4.70% p.a. for the balance of RM30,000 and the Effective Interest Rate for a 12-month period is 4.51% p.a..

Terms and conditions apply.
The MYDeal promotion is valid from 1 August till 31 October 2018. For account balance of RM30,000 and above, you will enjoy a promotional rate of 3.50% p.a. for 3 months from date of account opening. Thereafter, you will enjoy the current base rate of 3.25% p.a. for account balance of RM30,000 and above. This promotion is not eligible for account balance below RM30,000. If you have invested or insured with OCBC Bank, you will still enjoy your bonus interest of 1.20% p.a. for the remaining 12 months. The wealth bonus is a separate promotion and valid until 31 December 2019. Only selected products are eligible for wealth bonus.

Enjoy the wealth bonus for 12 months when you invest in any new eligible wealth product from OCBC of at least:

Eligible Wealth Product Starting From
Regular Premium Insurance
(MaxEmpower, MaxYield or Cash Plus)
RM6,000 for first year annual premium
Unit Trust (Lump Sum Investment) RM20,000

Alternatively, you may invest in Unit Trust monthly investment to enjoy the wealth bonus of 1.20% p.a. for the number of month(s) that you invest at least RM1,500.


(Not applicable to OCBC Stabiliser or ARIP-i)

Note: To ensure that the product you purchase meets your financial needs, our Personal Financial Consultant will perform a Financial Needs Analysis with you in order to help you make an informed decision.

  • The wealth bonus is accorded for 12 months after either (i) the free look/cancellation period ends; or (ii) 14 days after the effective date of purchase, whichever is later. Effective date refers to the inception date of the insurance product and trade date of unit trust.
  • If you are investing in unit trust via monthly investment, each month's investment will earn one month's worth of wealth bonus.
  • The wealth bonus will be paid on the first RM50,000 of your account's average daily balance. You will receive it by the 14th business day of the following month.
  • Minimum sales charge for eligible unit trust investments is 2.5%.
  • The wealth bonus and the 2 MEPS withdrawal fee waiver are promotional and valid until 31 December 2019.
  • If you qualify for the wealth bonus more than once in the same month, you will enjoy the wealth bonus from the effective date of purchase of the latest eligible wealth product.
  • You need to be the primary account holder of OCBC Booster Account as well as the policy owner of the eligible insurance product or primary account holder of the eligible investment product.

Minimum Age
18 years old
Nationality
Malaysian, Permanent Residents and Non-Residents (subject to the country of origin)

Initial Deposit
RM 500
Monthly Statements
Paper or e-Statement

1 How different is the OCBC Booster Account from other savings account?

The OCBC Booster Account is a savings account that rewards you with a high base interest rate when you maintain an account balance of RM30,000 and above. In addition, it rewards you with wealth bonus when you invest or insure with OCBC.

2 How is the interest calculated?

You get 2 types of interest on your account balance every month.

a) Base interest: This interest is accrued daily based on your account's day-end balance and you will receive this at the end of the month.

b) Wealth bonus: This interest is based on the first RM50,000 of your account's average daily balance and you will receive this by the 14th business day of the following month or earlier; truncated to 2 decimal places. No wealth bonus will be paid to your Booster Account if the total amount of bonus in such month is less than RM0.01.

3 What will happen when my account balance fall below RM30,000?

The base interest of 0.25% p.a. will be accrued based on the days where your account balance falls below RM30,000.

For example: If you have maintained your account balance below RM30,000 between the 1st - 15th of the month, then your base interest accrued for this account balance will be 0.25% p.a. from 1st - 15th of the month. Subsequently, if you maintain your account balance at or above RM30,000 between the 16th - 31st of the month, then your base interest accrued for this balance will be 3.25% p.a. from the 16th - 31st of the month.

Dates Account balance Base interest accrued
1-15 January RM28,000 0.25% p.a.
16-31 January RM32,000 3.25% p.a.

4 Can I open more than one OCBC Booster Account?

You may only open ONE OCBC Booster Account whether in own name or in joint names, where you are the primary account holder.

5 Can I use the money in my OCBC Booster Account?

Yes, you can. There is no lock-in period for this account. You can withdraw money with a debit card and/or access your money through OCBC Online Banking.

6 Where can I withdraw money from my OCBC Booster Account?

You can withdraw money from any ATM operated by OCBC Group, comprising of OCBC Bank in Malaysia & Singapore, OCBC Al-Amin Bank, OCBC NISP (Indonesia) and OCBC Wing Hang (Hong Kong and Macau) at no charges.

You can also withdraw from any ATM within the MEPS network where your MEPS fee for the first 2 withdrawals of each month will be waived. Subsequent withdrawals will be charged at up to RM4.24 per withdrawal.

For the latest fees and charges, please click here


1 How do I qualify for the wealth bonus?

You need to invest in any eligible wealth product of at least the minimum amount with OCBC Bank. Only purchases made after 1 April 2018 will be eligible.

Note: To ensure that the product you purchase meets your financial needs, our Personal Financial Consultant will perform a Financial Needs Analysis with you in order to help you make an informed decision.

2 When will I receive the wealth bonus?

This wealth bonus is accorded for 12 months. Payment starts after the month in which either (i) the free look/cancellation period ends; or (ii) 14 days have passed after the effective date of purchase, whichever is later. Effective date of purchase refers to the inception date of the insurance product and trade date of unit trust.

For example:

Effective date of purchase Date after free look / cancellation period or 14 days from effective date of purchase First month of wealth bonus
1 January 15 January January (Wealth bonus will be credited in February)
20 January 4 February February (Wealth bonus will be credited in March)

3 How will I know that the base interest is credited to my OCBC Booster Account?

Your base interest will be reflected in your statement, Online Banking and Mobile Banking transaction history as INTEREST CREDIT.

4 How will I know that the wealth bonus is credited to my OCBC Booster Account?

Your wealth bonus will be reflected in your statement, Online Banking and Mobile Banking transaction history as WEALTH BONUS.

If you close your account before the wealth bonus crediting date, the wealth bonus for the previous month will be forfeited.

5 How will my wealth bonus be accounted for if I have more than RM50,000 in my account balance?

You will continue to enjoy your wealth bonus of 1.20% p.a. on the first RM50,000 of your OCBC Booster Account's average daily balance.

Additionally, you will still earn the base interest of 3.25% p.a. on your entire account balance.

6 Can I combine the multiple wealth product purchases I made to qualify for the wealth bonus?

Yes, you can. Purchases of the same wealth product meeting the minimum eligibility criteria can be accumulated if their effective date of purchase, after the free look/ cancellation period or 14 days whichever is later, falls in the same calendar month.

For example:

Effective date of first purchase Effective date of second purchase Total investment amount Qualify for wealth bonus?
5 March 2018

RM5,000 lump sum investment in Fund A
16 March 2018

RM15,000 lump sum investment in Fund B
RM20,000 Yes
10 April

RM2,000 regular premium endowment plan A
12 April

RM5,000 regular premium endowment plan B
RM7,000 Yes
10 April

RM2,000 regular premium endowment plan A
12 April

RM5,000 lump sum investment in Fund B
RM7,000 No

Purchases made must be of the same wealth product type

7 What happens if I qualify for the wealth bonus more than once and the respective 12-month bonus periods overlap?

For months which there are overlaps, you will enjoy the maximum wealth bonus of 1.20% p.a. from the effective date of purchase of the latest eligible wealth product.

8 Will my wealth bonus period get renewed when I pay for subsequent regular premiums?

For eligible wealth products with regular premium, only the first year annual premium is eligible. Any subsequent premium payment will not be eligible.

9 How long can I enjoy the wealth bonus for if I qualify for it?

As long as you have subscribed to an eligible wealth product with an effective date of purchase after either (i) the free-look/cancellation period ends; or (ii) 14 days have passed and is no later than 31 December 2019, you will enjoy the wealth bonus according to the predetermined period below:

Eligible wealth product Wealth bonus earned
Regular premium insurance 12 months
Unit Trust lump sum investment
Unit Trust monthly investment For as long as you make your monthly investments up until the end of the promotional period on 31 December 2019.

10 Do I continue to get this wealth bonus if I redeem my investments or when they mature?

Yes. You will continue to get this wealth bonus.

11 Do I continue to get this wealth bonus if I cancel my investment and/or policy during the free look/cancellation period?

No, you will not be eligible for the wealth bonus. The wealth bonus is accorded for only after the effective date of purchase, after the free look/cancellation period or 14 days, whichever is later.

12 How can I pay for the eligible wealth products?

There are many ways to pay for eligible wealth products:

Insurance: Cash, credit card or Auto Debit (via OCBC account)

Unit trusts (lump sum investment): Cash, Auto Debit (via OCBC account) or EPF account for applicable funds

Unit trusts (monthly investment): Cash or Auto Debit (via OCBC account)

13 Where can I find more information on the eligible wealth products?

For the full list of eligible wealth products, please click here

For insurance, please click here

For unit trusts, please click here

Alternatively, please leave your contact details and we will get in touch with you.

14 What are the financial products excluded from wealth bonus?

These are examples of financial products that do not qualify for wealth bonus:

Dual Currency Investment (DCI)
Financing Facility
Foreign Exchange (FX)
Retail Bonds
Structured Investments
General Insurance
OCBC Stabiliser or ARIP-i
Takaful


Ways to apply

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OCBC Booster Account is insured by PIDM.