KUALA LUMPUR: OCBC Bank (M) Bhd has made its popular OCBC 360 Account, a higher interest-bearing savings account available since 2015, accessible for online opening, even from overseas.
In a statement, OCBC the account is available to Malaysian citizens, including those residing outside Malaysia, who are at least 18 years of age and who fulfil the requirements set out in the terms and conditions.
According to the bank, the account is popular because customers can earn high interest rates of up to 3.25% a year by doing three everyday banking transactions: deposit, pay, and spend.
“An OCBC 360 Account starts off with 0.10% p.a. interest granted to the individual for any amount in the account. When they deposit at least RM500, pay at least 3 bills online, and spend at least RM500 on their OCBC credit/debit card(s) for the month, they earn an additional 1.05% p.a. For each such banking transaction,” OCBC said.
It added that when an individual fulfils all the conditions, they receive the full 3.25% p.a. interest, on their daily average account balance of up to RM100,000.
OCBC Bank managing director and head of consumer financial services Anne Leh, the move to make the OCBC 360 Account application process fully online will meet the ever-growing customer demand for speed and convenience, made possible through digital innovation.
“Our role as a bank is to enable people and communities to realise their aspirations, and one of the ways we do this is by utilising all the tools available to us for their benefit. This includes harnessing the innovations available to us in this digital era. We have integrated the eKYC functionality into the OCBC 360 Account while ensuring the highest levels of security for our customers.
“The OCBC 360 Account is a flagship savings account that thrives on rewarding individuals for doing what they would ordinarily be doing anyway, including everyday banking transactions such as deposits, payments and spending,” she said.
