Planning for the significant moments in life
Life is often punctuated by different significant events such as a wedding, the birth of your child, early retirement, or even a dream vacation. Wherever you plan to go, whatever you intend to do, without sound and prudent financial planning, such events may fail to materialise or may be put on hold.

When wealth creation is hard to do
Most people put aside a part of their income in ordinary savings account on a regular basis. However when there is no specific goal or purpose for saving that money, withdrawals are made to cover bills, expenses, shopping or to pay for the occasional indulgence. So savings can deplete rather easily and financial targets may be hard to meet.

Planning and saving for a brighter, better tomorrow
The OCBC Savings Plan is designed specially to help you plan and save for specific goals in your life. You may have more than one savings plan to help you achieve different objectives. To begin with you should underspend your income and save some money for future investments to build or grow your wealth. Start by skimming off a portion of the monthly amount from your monthly income instead of saving only what is left after all expenses. Most of the time, you'll find there isn't much left to save.

By saving consistently you'll be amazed by what you can achieve over time. Try it out with our savings calculator here.

"The journey of a thousand miles begins with a single step." - Chinese Proverb.

We would like to add - your journey on easy street begins with your single action right now. If you have tried out the savings simulator and are convinced by what you can achieve, why not begin your journey now by opening a Savings Plan today!

For matured savers or if you wish to be more aggressive in your wealth accumulation plan, check out our Fixed Deposits, Investment Services or for investment in real estate, check out our attractive HomeLoan package.

Alternatively, see our Personal Financial Consultants for a more detailed discussion of your personal financial plan.

Higher Interest
Enjoy higher interest rate that is higher than ordinary savings account.

Daily Interest
Interest is calculated daily and paid to your account monthly so you can earn even more interest.

Yearly Bonus Interest
Should you achieve the annual total deposit target amount, you will be rewarded with a yearly bonus interest. 1.5% bonus on interest paid for that year if there is a net deposit growth of at least RM2,400 over preceding year's balance. Please note that bonus interest is credited at the end of each calendar year and the condition(s) of bonus interest is subject to change or may vary by the Bank without any prior notice.

Cultivating Savings Habit Through Monthly Savings And Restricted Withdrawals
You decide how much to contribute to your savings based on your affordability. To make your savings meaningful, a minimum monthly deposit of RM50 is required.

24 Hour Convenience
Enjoy the convenience of 24-Hour Self-Service Banking and OCBC PhoneBanking services.

FREE Funds Transfer
Enjoy FREE monthly transfers from any account you hold at OCBC to your OCBC Savings Plan.

Withdrawals
Withdrawals are allowed once a year and a minimum balance of RM100 must be maintained after each withdrawal so that you may continue to save for your next goal. If you choose to close your account within 1 year, the interest already paid will be adjusted lower.

Closure of Accounts for Savings Plans

• 20% of interest already paid will be penalised if account is closed within 2 years.
• If your account is penalised on the interest, refund of withholding tax must be made for account with deposit above RM100,000.
• Penalty will be applicable if you close your account within 3 months.
  
  Click here for guides on Fees & Charges

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