OCBC Bank is Singapore’s oldest bank, having been formed in 1932 by merging three local banks, the oldest of which was established in 1912. OCBC Bank is continuously placed among the World’s Top 50 Safest Banks by Global Finance. It has been crowned Best Managed Bank in Singapore and the Asia Pacific by The Asian Banker for its financial strength and stability. OCBC Bank and its subsidiaries provide a comprehensive range of financial and wealth management services, including consumer, corporate, investment, private, transaction banking, treasury, insurance, asset management, and stockbroking.
A fixed deposit (FD) is the best option for people who want to keep their money safe and earn some interest from it. The returns are higher than other saving accounts, and you are guaranteed by the government!
You should know the interest rates upon maturity to ensure you gain a great amount of return. Interest rates differ from bank to bank and tenure to tenure.
Different banks offer different tenures, ranging from 1 month to a few years. Choose the one that suits your needs and financial goals.
It is crucial to identify all costs incurred to avoid spending more than expected.
You should be informed of the penalty amount to know what to expect if you need to withdraw the money before maturity.
Being aware of the customer service and the reputation of the bank you are planning to apply your fixed deposit account is an important step! Do thorough research before deciding on a bank.
OCBC offers 3 types of fixed deposits, namely:
Among other reasons, you should choose OCBC fixed deposits because:
For individuals 18 years old and above, only your identity card or passport is required.
For individuals below 18 years old (in-trust account):
The interest rates depend on your tenure. To learn more about the interest rates, click here.
For further inquiries, you may contact them at 03-8317 5000 or email at email@example.com.
It stands for per annum or each year.
The amount of return earned by depositors.
The amount of time the money is locked in a fixed deposit account.
The amount of money locked in a fixed deposit account to earn interest.
The additional charge from the bank for withdrawals before maturity (or premature withdrawal).
The end of a set time when an investment becomes due, and the principal and interest are repaid.
The money withdrawal in a fixed deposit account before maturity.
The withdrawal of part of the amount in a fixed deposit account before maturity.