Revised finance and late payment charges effective 1 May 2012
In the interest of promoting sound financial management, OCBC Bank is revising its finance and late payment charges effective 1 May 2012.
The new rates are as follows:
Finance charges
Tier 1
15% p.a. in interest charges on the 13th month for cardmembers who make prompt payments* for 12 consecutive months
Tier 2
17% p.a. in interest charges on the 13th month for cardmembers who make prompt payments* for either 10 or 11 months within the past 12 consecutive months
Tier 3
18% p.a. in interest charges for cardmembers who do not meet the above criteria
Late payment charge
Minimum amount
1% of the outstanding balance due or RM10, whichever is higher
Maximum amount
RM85
Other charges remain unchanged. Please click here for the complete fees and charges table.
* Prompt payments refers to payments that meet the minimum payment requirement received by the due date.