You are never idle.
Why should your wealth be?
Why should your wealth be?
Reach your life goals with up to
3.80% p.a. on your savings.
3.80% p.a. on your savings.
Eligibility
Exclusively for OCBC Premier Banking members only
OCBC Premier Booster Account
OCBC Premier Booster Account is an excellent savings account that will make your money work harder for you.
For account balances of RM200,000 and above, you will enjoy higher interest rate of 2.25% p.a.
| Base Interest | Wealth Bonus | ||
|
2.25
%
p.a.
Balances of RM200,000 and above
|
1.20
%
p.a.
On the first RM50,000, RM200,000 or RM500,000 of your account balance for 4 months depending on the qualifying amount of selected investment or insurance.
|
||
|
2.40
%
p.a.
Balances of RM3 million and above
|
|||
|
2.60
%
p.a.
Balances of RM10 million and above
|
For balances below RM200,000, an interest rate of 0.10% p.a. will be given.
For comparison, a 1-month Fixed Deposit board rate is 2.30% p.a. as of 9 November 2022.
The 4-month Effective Interest Rate for account balance of RM200,000 and qualifies for the Wealth Bonus on the first RM200,000 is 3.45% p.a.
Terms and conditions apply.
Enjoy the flexibility to:
Withdraw your funds at any time
without penalty as there is no holding period
Access your cash from ATM
within the MEPS network for free1
Request for a sweeping facility
to issue cheques conveniently
1 MEPS fee for the first 4 withdrawals of each month will be waived. Subsequent withdrawals will be charged.
OCBC Premier Booster Account Interest Calculator
Disclaimer
The amount is calculated on per month (31 days) basis and is for illustration purposes only.¹Base interest 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.
Enjoy the wealth bonus of 1.20% p.a. for 4 months when you invest in any new eligible wealth product from OCBC of at least:
Questions you may have:
General
1
How different is the OCBC Premier Booster Account from other savings account?
The OCBC Premier Booster Account is a savings account exclusively for Premier Banking members that rewards you with a high base interest rate based on your balances. In addition, it rewards you with wealth bonus when you invest or insure with OCBC.
2
How is the interest calculated?
You get two types of interest on your account balance every month.
a) 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. Your base rate will be based on your balances.
b) Wealth bonus: This interest will be applicable to the first RM50,000, RM200,000 or RM500,000 of your account's average daily balance, depending on the investment/insurance amount that you have purchased. 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 OCBC Premier Booster Account if the total amount of bonus in such month is less than RM0.01.
a) 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. Your base rate will be based on your balances.
b) Wealth bonus: This interest will be applicable to the first RM50,000, RM200,000 or RM500,000 of your account's average daily balance, depending on the investment/insurance amount that you have purchased. 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 OCBC Premier Booster Account if the total amount of bonus in such month is less than RM0.01.
3
What will happen when my account balance fall below RM200,000?
The base interest of 0.10% p.a. will be accrued based on the days where your account balance falls below RM200,000.
For example:
If you have maintained your account balance below RM200,000 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 RM200,000 between the 16th – 31st of the month, then your base interest accrued for this balance will be 2.25% p.a. from the 16th – 31st of the month.
For example:
If you have maintained your account balance below RM200,000 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 RM200,000 between the 16th – 31st of the month, then your base interest accrued for this balance will be 2.25% p.a. from the 16th – 31st of the month.
| Dates | Account balance | Base interest accrued |
| 1-15 Aug | RM180,000 | 0.10% p.a. |
| 16-31 Aug | RM220,000 | 2.25% p.a. |
4
Can I open more than one OCBC Premier Booster Account?
You may only open ONE OCBC Premier Booster Account whether in own name or in joint names, where you are the primary account holder.
5
Can I use the money in my OCBC Premier 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.
6
Where can I withdraw money from my OCBC Premier Booster Account?
You can withdraw money from any ATM operated by OCBC Group, comprising of OCBC Bank in Malaysia & Singapore, OCBC Al-Amin, OCBC NISP (Indonesia) and OCBC Wing Hang (Hong Kong and Macau) at no charge.
You can also withdraw from any ATM within the MEPS network where your MEPS fee for the first 4 withdrawals of each month will be waived. Subsequent withdrawals will be charged.
For the latest fees and charges, please click here
You can also withdraw from any ATM within the MEPS network where your MEPS fee for the first 4 withdrawals of each month will be waived. Subsequent withdrawals will be charged.
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 Relationship Manager will perform a Financial Needs Analysis with you in order to help you make an informed decision.
Note: To ensure that the product you purchase meets your financial needs, our Relationship Manager 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?
Payment starts the following month after either (i) the free look/cancellation period ends; or (ii) 14 days 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
For Example
| Effective Date of purchase | Date after free look/cancellation period or 14 days after Effective Date of purchase | First month of wealth bonus |
| 1 January | 15 January | January (Wealth bonus will be credited in February) |
| 20 January | 3 February | February (Wealth bonus will be credited in March) |
3
How will I know that the base interest is credited to my OCBC Premier Booster Account?
Your base interest will be reflected in your Premier Wealth Report, Online Banking and Mobile Banking transaction history as INTEREST CREDIT.
4
How will I know that the wealth bonus is credited to my OCBC Premier Booster Account?
Your wealth bonus will be reflected in your Premier Wealth Report, Online Banking and Mobile Banking transaction history as WEALTH BONUS.
If you close your account before the wealth bonus crediting date, the wealth bonus for the previous month will be forfeited.
If you close your account before the wealth bonus crediting date, the wealth bonus for the previous month will be forfeited.
5
Can I combine multiple wealth product purchases of the same type to qualify for the wealth bonus?
Yes, you can, provided that you fulfil the conditions below:
(i) Effective dates of the purchases after the free look/cancellation period end or 14 days whichever is later must fall in the same calendar month. For example,
(ii) Purchases of the same wealth product meeting the minimum eligibility criteria. For example,
Examples of purchases which involve different sales charge or wealth products:
(i) Effective dates of the purchases after the free look/cancellation period end or 14 days whichever is later must fall in the same calendar month. For example,
| Effective Date | Date after free look/ cancellation period or 14 days after Effective Date of purchase | Total investment amount | Qualify for wealth bonus? | Wealth Bonus is applicable to the… |
|
5 January 2021 RM5,000 lump sum investment in Unit Trust in Fund A with 2.75% sales charge |
19 January 2021 | RM20,000 lump sum Unit Trust investment with 2.75% sales charge |
Yes
Effective dates for both purchases after cancellation period or 14 days whichever later, fall in the same calendar month. |
First RM50,000 average daily balance |
|
15 January 2021 RM15,000 lump sum investment in Unit Trust Fund B with 2.75% sales charge |
29 January 2021 | |||
|
5 January 2021 RM5,000 lump sum investment in Unit Trust in Fund A with 2.75% sales charge |
19 January 2021 | RM20,000 lump sum Unit Trust investment with 2.75% sales charge |
No Effective dates for both purchases after cancellation period or 14 days whichever later, do not fall in the same calendar month. |
Not applicable |
|
28 January 2021 RM15,000 lump sum investment in Unit Trust Fund B with 2.75% sales charge |
11 February 2021 |
(ii) Purchases of the same wealth product meeting the minimum eligibility criteria. For example,
| Effective Date | Total investment amount | Qualify for wealth bonus? | Wealth Bonus is applicable to the… |
|
5 January 2021 RM50,000 lump sum investment in Fund A with 2.25% sales charge |
RM80,000 lump sum Unit Trust investment with 2.25% sales charge | Yes | First RM200,000 average daily balance |
|
15 January 2021 RM30,000 lump sum investment in Fund B with 2.25% sales charge |
|||
|
5 January 2020 RM6,000 Regular Premium Endowment Plan A |
RM 20,000 first year annual premium | Yes | First RM200,000 average daily balance |
|
15 January 2020 RM14,000 Regular Premium Endowment Plan B |
|||
|
5 January 2020 RM100,000 Single Premium Plan A |
RM200,000 single premium | Yes | First RM500,000 average daily balance |
|
15 January 2020 RM100,000 Single Premium Plan B |
Examples of purchases which involve different sales charge or wealth products:
| Effective Date | Total investment amount | Qualify for wealth bonus? | Wealth Bonus is applicable to the… |
|
5 January 2021 RM70,000 lump sum investment in Fund A with 2.25% sales charge |
RM85,000 lump sum Unit Trust investment with different sales charge |
Yes Both purchases in total fulfilled the minimum eligible criteria of RM80k with min sales charge 2.25%. |
First RM200,000 average daily balance |
|
15 January 2021 RM15,000 lump sum investment in Fund B with 2.75% sales charge |
|||
|
5 January 2021 RM150,000 lump sum investment in Fund A with 2.25% sales charge |
RM290,000 lump sum Unit Trust investment with different sales charge |
Yes Both purchases in total fulfilled the minimum eligible criteria of RM200k with min sales charge 2.25%. |
First RM500,000 average daily balance |
|
15 January 2021 RM140,000 lump sum investment in Fund B with 2.75% sales charge |
|||
|
5 January 2021 RM10,000 lump sum investment in Fund A with 2.25% sales charge |
RM25,000 lump sum Unit Trust investment with different sales charge |
No Sales charge for Fund A must be a minimum of 2.75% to be recognised as total eligible investment. |
Not applicable |
|
15 January 2021 RM15,000 lump sum investment in Fund B with 2.75% sales charge |
|||
|
5 January 2021 RM2,000 Regular Premium Endowment Plan A |
RM7,000 combination total wealth products |
No Each wealth product purchased does not meet the minimum eligibility criteria. |
Not applicable |
|
15 January 2021 RM5,000 lump sum investment in Fund B with 2.75% sales charge |
6
What happens if I qualify for the wealth bonus more than once and the bonus periods overlap?
If you make multiple purchases of eligible wealth products and qualify for wealth bonus more than once, for months which different bonus periods overlap, only one wealth bonus will be accorded and the bonus period with a higher bonus amount will be accorded.
Example 1
For the overlapping months (March – June 2021), you will enjoy a maximum wealth bonus of 1.20%p.a. for the bonus period which accord the higher bonus amount, i.e for the first RM200,000. You may refer to the illustration below.
Example 2
For the overlapping months (March 2021 to April 2021), you will enjoy maximum wealth bonus of 1.20% p.a. for the bonus period which accord higher bonus amount, i.e. for the first RM200,000 of the average daily account balance. Thereafter, you will continue to enjoy the maximum wealth bonus of 1.20% for the bonus amount on the first RM50,000 of the average daily account balance. You may refer to the illustration below.
Example 1
| Effective Date | Wealth Purchases | Wealth Bonus is applicable to the… |
| 1 January 2021 | RM20,000 lump sum investment in Fund A with 2.75% sales charge | First RM50,000 average daily balance from January to April 2021 |
| 3 March 2021 | RM100,000 Single Premium Plan B | First RM200,000 average daily balance from March to June 2021 |
For the overlapping months (March – June 2021), you will enjoy a maximum wealth bonus of 1.20%p.a. for the bonus period which accord the higher bonus amount, i.e for the first RM200,000. You may refer to the illustration below.
Example 2
| Effective Date | Wealth Purchases | Wealth Bonus is applicable to the… |
| 1 January 2021 | RM200,000 lump sum investment in Fund A with 2.75% sales charge | RM200,000 average daily account balance for 4 months from January 2021 to April 2021 |
| 1 March 2021 | RM100,000 Single Premium Plan B | First RM50,000 average daily account balance for 4 months from March 2021 to June 2021 |
For the overlapping months (March 2021 to April 2021), you will enjoy maximum wealth bonus of 1.20% p.a. for the bonus period which accord higher bonus amount, i.e. for the first RM200,000 of the average daily account balance. Thereafter, you will continue to enjoy the maximum wealth bonus of 1.20% for the bonus amount on the first RM50,000 of the average daily account balance. You may refer to the illustration below.
7
Will all my subsequent payments of regular premium eligible for wealth bonus?
Only your first year annual premium is eligible for wealth bonus.
8
How long can I enjoy the wealth bonus for if I qualify for it?
As long as you have purchased an eligible wealth product with an effective date of purchase after either (i) the free-look/cancellation period ends; or (ii) 14 days whichever later, you will enjoy the wealth bonus according to the predetermined period
below:
| Eligible wealth product | Wealth bonus earned |
| Regular/Single premium insurance |
4 months for eligible wealth products purchased from 18 December 2020 onwards |
| Unit Trust lump sum investment |
9
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.
10
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 either (i) the free look/cancellation period ends; or (ii) 14 days after the effective date of purchase, whichever is later.
11
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 Trust (lump sum investment): Cash, Auto Debit (via OCBC account) or EPF account for applicable funds
Insurance: Cash, credit card or Auto Debit (via OCBC account)
Unit Trust (lump sum investment): Cash, Auto Debit (via OCBC account) or EPF account for applicable funds
13
What are the financial products excluded from wealth bonus?
These are 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
Takaful term plans
Dual Currency Investment (DCI)
Financing Facility
Foreign Exchange (FX)
Retail Bonds
Structured Investments
General insurance
OCBC Stabiliser or ARIP-i
Takaful term plans
14
If I have multiple Premier 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.
Important Notes
- OCBC Premier Booster Account is applicable to OCBC Premier Banking members only and all applicants must be at least 18 years old to apply. The minimum opening amount is RM200,000 and a minimum balance of RM20 must be maintained in the account. You will need to have a OCBC Premier Booster Account to enjoy the wealth bonus.
- OCBC Stabiliser and ARIP-i are not eligible for the wealth bonus.
- The wealth bonus is accorded 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.
- You will receive your wealth bonus by the 14th business day of the following month.
- The minimum sales charge for eligible Unit Trust investments is 2.75% for lump sum investment below RM80,000 and 2.25% for lump sum investment of RM80,000 and above.
- You will need to be the primary account holder of the OCBC Premier Booster Account as well as the policy owner of the eligible insurance product or primary account holder of the eligible investment product.
- To ensure that the products purchased meets your financial needs, your Relationship Manager will perform a Financial Needs Analysis with you in order to help you make an informed decision.
|
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