OCBC BOOSTER ACCOUNT

Fast-track the path to your desired lifestyle. Earn up to 4.35% p.a.

Why you will love this

Earn up to 4.35% p.a. interest/profit for 4 months on your newly opened OCBC Booster Account/-i during the promotional period.

Earn a promotional base interest/profit of 2.35% a year with at least RM30,000 in day-end balance

No lock-in period and no withdrawal penalty

Who can apply

Age 18 and above

Malaysian Citizens, Permanent Residents and Non-residents (subject to the country of origin)

Kick start your wealth journey today.

Current promotion
OCBC Booster Account/-i Opening Promotion

OCBC Booster Account/-i Opening Promotion

Earn an effective rate of 4.35% a year for 4 months (with a minimum balance of RM30,000 and qualify for 2.00% a year Wealth Bonus).

This promotion is exclusive for New-to-OCBC Booster Account/-i customers only.

Promotional period: 15 May 2024 – 28 January 2025.

Terms and conditions apply.

Exclusively for New-to-Booster Account/-i Customers.

Campaign Period: 15 May 2024 - 28 January 2025

2.35%

a year

Promotional base interest/profit

On your entire balance when you maintain a balance of at least RM30,000.

On your entire balance when you maintain a balance of at least RM30,000.

2.00%

a year

Promotional Wealth Bonus

On the first RM50,000 of your account balance for 4 months depending on the qualifying amount of selected investment or insurance.

On the first RM50,000 of your account balance for 4 months depending on the qualifying amount of selected investment or insurance.

+
+

4.35%

a year

Total promotional interest/profit

On a maximum of RM50,000 of your account balances for 4 months, if you qualify for the Base interest/profit of 2.35% a year and the Wealth Bonus.

On a maximum of RM50,000 of your account balances for 4 months, if you qualify for the Base interest/profit of 2.35% a year and the Wealth Bonus.

=
=

As an example, if you maintain an account balance of RM30,000 and qualify for the Wealth Bonus on the first RM50,000, the Effective Interest/Profit rate for a 4-month period is 4.35% a year.

Enjoy no lock-in period on your funds and MEPS fee waiver for the first 2 withdrawals every month.

Terms and conditions apply.

Enjoy up to 3.35% maximum Interest/profit a year on your savings with no lock-in period.

2.15%

a year

Base interest/profit

On your entire balance when you maintain a balance of at least RM30,000.

On your entire balance when you maintain a balance of at least RM30,000.

1.20%

a year

Wealth Bonus interest/profit

On the first RM50,000 of your account balance for 4 months depending on the qualifying amount of selected investment or insurance.

On the first RM50,000 of your account balance for 4 months depending on the qualifying amount of selected investment or insurance.

+
+

3.35%

a year

Total interest/profit

On a maximum of RM50,000 of your account balances for 4 months, if you qualify for the Base interest/profit of 2.15% a year and the Wealth Bonus.

On a maximum of RM50,000 of your account balances for 4 months, if you qualify for the Base interest/profit of 2.15% a year and the Wealth Bonus.

=
=

As an example, if you maintain an account balance of RM30,000 and qualify for the Wealth Bonus on the first RM50,000, the Effective Interest/Profit rate for a 4-month period is 3.35% a year.

Enjoy no lock-in period on your funds and MEPS fee waiver for the first 2 withdrawals every month.

Terms and conditions apply.

HOW TO ENJOY THE promotional WEALTH BONUS

Enjoy the promotional wealth bonus for 4 months when you invest in any new eligible wealth product from OCBC of at least:

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 and informed decision.

  • The wealth bonus is accorded for 4 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.
  • 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 investment is 2.75%.
  • The 2 MEPS withdrawal fee waiver is promotional and valid until 31 December 2024.
  • 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.

HOW TO ENJOY THE promotional WEALTH BONUS

Enjoy the promotional wealth bonus for 4 months when you invest in any new eligible wealth product from OCBC of at least:

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 and informed decision.

  • The wealth bonus is accorded for 4 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.
  • 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 investment is 2.75%.
  • The 2 MEPS withdrawal fee waiver is promotional and valid until 31 December 2024.
  • 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.

INTEREST/profit CALCULATOR

Discover how much interest/profit you can earn

Calculate your interest/profit

Investment or insurance product

Base rate1

0.00% a year

Base interest/profit per month

RM0.00


Promotional Wealth Bonus rate2
Up to first RM50,000 only

0.00% a year

Wealth Bonus amount per month

RM0.00

Here is how much interest/profit you earn

Total interest/profit per month

RM0.00

4-month effective interest/profit rate

0.00%

Disclaimer

The amount is calculated on per month (31 days) basis and is for illustration purposes only.

1Base interest/profit per month is calculated based on account daily balance and will be paid on monthly basis.

2Wealth bonus per month is calculated based on account average balance and will be paid on monthly basis.

The calculator is for your convenience only and you have chosen to use it and rely on any results at your own risk. OCBC Bank will not under any circumstances accept responsibility or liability for any losses that may arise from a decision that you may make as a result of using the calculator.

INTEREST/profit CALCULATOR

Discover how much interest/profit you can earn

Calculate your interest/profit

Investment or insurance product

Base rate1

0.00% a year

Base interest/profit per month

RM0.00


Wealth Bonus rate2
Up to first RM50,000 only

0.00% a year

Wealth Bonus amount per month

RM0.00

Here is how much interest/profit you earn

Total interest/profit per month

RM0.00

4-month effective interest/profit rate

0.00%

Disclaimer

The amount is calculated on per month (31 days) basis and is for illustration purposes only.

1Base interest/profit per month is calculated based on account daily balance and will be paid on monthly basis.

2Wealth bonus per month is calculated based on account average balance and will be paid on monthly basis.

The calculator is for your convenience only and you have chosen to use it and rely on any results at your own risk. OCBC Bank will not under any circumstances accept responsibility or liability for any losses that may arise from a decision that you may make as a result of using the calculator.

BEFORE YOU APPLY

Eligibility requirements

Minimum age

18 and above

Nationality

Malaysian Citizens, Permanent Residents and Non-residents (subject to the country of origin)


Deposit requirements

Initial deposit

RM500

Minimum balance to maintain in account

RM20 (Any transaction resulting in the balance failing below the minimum balance will be rejected)


Statements

Monthly statements

Paper or e-Statement




PIDM disclosure

This deposit is protected by PIDM up to RM250,000 for each depositor.

  • Deposit protection is automatic.
  • PIDM protects depositors holding deposits with banks.
  • There is no charge to depositors for deposit insurance protection.
  • Should a bank fail, PIDM will promptly reimburse depositors over their deposits.

For more information, refer to PIDM's DIS Brochures that are available at our counters or go to the website at www.pidm.gov.my.


WAYS TO APPLY

Open your OCBC Booster Account today

FAQS
Common Questions
General
  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 interest when you do any of these:

    • Invest with OCBC
    • Insure with OCBC
  2. How is the interest calculated?

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

    1. 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.
    2. 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 falls below RM30,000?

    The base interest of 0.10% 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 0.10% 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 2.15% p.a. from the 16th - 31st of the month.

    Dates Account Balance Base Interest accrued
    1 -15 Aug RM28,000 0.10% a year
    16 - 31 Aug RM32,000 2.15% a year
  4. 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.

  5. 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 RM1.00 per withdrawal.

    For the latest fees and charges, please click here

Wealth Bonus
  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 from 18 December 2020 onwards 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 4 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 of 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 2 February

    February

    (Wealth bonus will be credited in March)

  3. How will I know that the base interest/ wealth bonus interest are credited to my OCBC Booster Account?

    Your base & wealth bonus interest will be reflected in your statement, Online Banking and Mobile Banking transaction history as INTEREST CREDIT (base interest) and WEALTH BONUS.

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

  4. 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

    RM5,000 lump sum investment in Fund A

    16 March

    RM15,000 lump sum investment in Fund B

    RM20,000 Yes

    10 April

    RM2,000 regular premium endowment plan A

    12 April

    RM5,000 premium endowment plan B

    RM7,000 Yes

    10 April

    RM2,000 regular premium endowment plan A

    12 April

    RM5,000 premium endowment plan B

    RM7,000 No
    Purchases made must be of the same wealth product type
  5. What happens if I qualify for the wealth bonus more than once and the bonus periods overlap?

    If you qualify for the wealth bonus 18 December 2020 onwards, for months in which there are overlaps, you will enjoy the maximum wealth bonus of 1.20%p.a. from the effective date of the latest eligible wealth product for 4 months.

    Scenario

    You purchase wealth product X in August 2021 and are eligible for 1.20%p.a. wealth bonus for 4 months (i.e., until November 2021). In October 2021, you purchase product Y and are eligible for 1.20%p.a. wealth bonus for 4 months. With this, you will receive the wealth bonus of 1.20%p.a. until January 2022, i.e., the latest qualifying month of the wealth bonus.

  6. 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.

  7. 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, you will enjoy the wealth bonus according to the predetermined period below:

    Eligible wealth product Wealth bonus earned
    Regular premium insurance

    4 months 

    for eligible wealth products purchased from 18 December 2020 onwards

    Unit Trust lump sum investment
  8. 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.

  9. 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.

  10. 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

    What are the Eligible Wealth Products?

    For 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 here and we will get in touch with you.

    Below are the 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
    Insurance term plans

    Can I open more than ONE 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.

    1. If I have multiple Booster accounts, which account will my wealth bonus be paid to?

      The wealth bonus will be paid to the account with the higher bonus amount. In the event the wealth bonus amount is the same for several accounts, then the wealth bonus will be paid to the account with the largest account number.