OCBC has just launched it’s Smart Savers Deal high return fixed deposit campaign. This promotion promises a 4.80% return on a 3 months fixed deposit which is very high compared to other banks in Malaysia. The promotion is only valid from 4 August to 30 November 2015
How to participate
You will need to deposit a minimum RM 5,000 into a SA deposit account. You will then be eligible for another deposit of RM 5,000 into the fixed deposit account with promotion rate.
Are there any strings attached?
Although the published rate is 4.80%, you will have to have the same amount of money on your current or savings account. This means that that you will have to park same amount of money into a lower rates return saving or current account which means that the total money that you park would have reduced interest rates.
This deal good only if you already have some money parked at your savings account. You will have to top up some money to earn 4.80% but it is only valid for 3 months. There is also a minimum limit of RM 10,000 and a maximum limit of RM 10 million that someone can place into the promotion. As usual, only fresh funds can be used for this promotion.