The Monetary Authority of Singapore (MAS) has imposed an additional capital requirement, of approximately S$330 million, on OCBC Bank (OCBC), given deficiencies in the bank’s response to a wave of spoofed SMS phishing scams in December 2021.

World's first to use national digital ID & online consent system for secure financial dataĪ collaborative AI-driven global solutions hub to foster SME digitalisationįind out how Singapore can be a leading centre for Green and Sustainable Finance World’s largest festival for the FinTech community to connect, collaborate and co-create Unlocking new possibilities for the future of financial services through Digital Assets

Understand the various initiatives for technology solutions and projects in Green Finance. Various payment initiatives including SGQR, FAST and PayNow

Sandbox relaxes regulatory requirements to enable live experiments of innovation Get funding on proof-of-concepts, hiring, business development and more Fresh funds must be deposited into an account with the OCBC Bank and OCBC Al-Amin Bank not more than 7 calendar days from the placement date.Īs an illustration, you place a total of RM100,000, of which RM90,000 is placed in Fixed Deposit/-i and RM10,000 in OCBC 360 Account/-i (90% : 10% ratio) and assuming you fulfil all 3 Bonus Pillars (i.e Deposit, Pay and Spend) in the OCBC 360 Account/-i as provided in Note 2, the 6-month promotional EIR/EPR is up to 4.00% p.a.Latest information on MAS’ FinTech strategy, initiatives and funding schemes Bonus interest(s)/profit(s) of 1.05% p.a per Pillar is applicable on the first average daily balance of RM100,000 for every month the Deposit, Pay and Spend Bonus pillars are fulfilled.ģ'Fresh funds' refers to funds transferred from another licensed bank in Malaysia, other than OCBC Bank and OCBC Al-Amin Bank.

ĢA base interest/profit of 0.10% p.a is applicable on the entire account balance. Fixed Deposit-i can only be bundled with OCBC 360 Account-i.ġFor comparison, the board rate for a 6-month Fixed Deposit/-i is 2.65% p.a.

Ocbc bank fixed deposit rate malaysia