Terms and Conditions Governing OCBC Premier Banking and Premier Private Client New Customer Dividend+ Welcome Bonus Interest Promotion ("Promotion")

Programme Period

  1. The Programme is valid from 1 October 2024 to 31 December 2024 (both dates inclusive), or such other period(s) as may be determined by Oversea-Chinese Banking Corporation Limited (“OCBC”) at its absolute discretion (the “Programme Period”).

Eligibility

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  2. An individual will be eligible for the Programme if he/she successfully joins as a new OCBC Premier Banking client (“Eligible Client”) during the Programme Period. The Eligible Client must not have (i) an existing OCBC Premier Banking or Premier Private Client relationship; and/or (ii) ceased his/her OCBC Premier Banking, OCBC Premier Banking Asia or OCBC Premier Private Client relationship within the last 12 months.

Promotion Mechanics

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  3. An Eligible Client will qualify for the welcome reward as described in Clause 10 below (each a “Welcome Reward”) when they fulfil all the following criteria:
    1. submits a signed copy of the “Terms & Conditions Governing OCBC Premier Banking Welcome Reward Programme” during the Programme Period;
    2. places Fresh Funds (as defined in Clause 4 below) into Eligible Product(s) (as defined in Clause 5 below) with qualifying amount set out in Clause 10 (“Qualifying Amount”) as the primary account holder, no earlier than one month before the month in which the Eligible Client’s Premier Banking relationship is successfully established (“Onboarding Month”) and no later than one month after the Onboarding Month; and
    3. maintains the Qualifying Amount for at least three months after the month of most recent placement of Fresh Funds into the Eligible Product as the primary account holder, whichever is later (“Minimum Maintenance Period”).
  4. “Fresh Funds” refers to (i) funds in the form of non-OCBC cheques/ cashier’s orders/ demand drafts or (ii) funds that are not withdrawn from any existing OCBC accounts and re-deposited in the last 30 days, and funds must be incremental to the Eligible Client’s overall deposit balances 30 days prior to the date of deposit.
  5. An “Eligible Product” refers to (a) current or savings account(s); (b) Foreign Currency time deposit(s); or (c) investment products offered by OCBC Bank (subject to OCBC Bank’s assessment of product suitability for the Eligible Client) held by the Eligible Client as the primary account holder, and excludes all Singapore Dollar time deposits and deposits or investments made pursuant to any other OCBC promotions or where any other promotional rates or offers were already availed in relation to such deposit or investment, or deposits or investments specified by OCBC Bank.
  6. An Eligible Client who qualifies to receive the Welcome Reward as set out under clause 3, shall also be entitled to be awarded an additional bonus reward of S$590 (“Wealth Bonus”) if they invest the Fresh Funds in any of the investment products as set out under clause 8 (“Eligible Investment Products”), no later than three months after the Onboarding Month.
  7. For the avoidance of doubt, the amounts invested using funds from financing facilities taken up with OCBC will not count towards the Qualifying Amount or be considered for the purpose of the award of the Wealth Bonus.

  8. The Eligible Client will be rewarded with the Wealth Bonus if they invest in any of the following Eligible Investment Products and meet the minimum investment amount in a single trade, conditional upon the relevant investment products purchased not being cancelled during the cancellation or free-look period (i.e. the period where a client may cancel the investment) after the investment trade date or inception date.

    Eligible Investment Products Minimum Investment Amount
    Investment & Treasury:

    Unit Trust – exclude Unit Trusts investments into money market funds and Unit Trusts transferred in from other financial institutions

    Structured Investment

    Structured Note

    Bonds    		 S$200,000 or the equivalent in a foreign currency
    Single Premium Insurance:

    PremierLife Generation Series

    PremierLife Legacy Series

    PremierLife Heritage (Classic)

    GREATLife Endowment Insurance 3 (Single Premium)

    PrimeGold Bonus III

    PremierLife Heritage (Index)

    Prestige Multiple Critical Illness

    HSBC Life Jade Legacy Universal Life

    HSBC Life Jade Ultra Legacy Universal Life

    HSBC Life Emerald Legacy Life III (SGD/USD)

    HSBC Life Diamond Prestige IUL

    S$100,000 or the equivalent in a foreign currency

    For multi-pay Universal Life or Indexed Universal Life, total premiums payable will be taken as investment amount
    Regular Premium Insurance:

    GREAT Lifetime Payout 2 Special

    GREATLife Endowment Insurance 3 (5 Pay)

    GREAT Retire Income 5

    MaxEndowment Insurance Special II    		 S$30,000 per year
    Regular Premium Insurance:

    GREATLife Endowment Insurance 3 (10/15 Pay)

    GREAT Retire Income 10/15/20

    Investment-linked Insurance Plan 2 - Choice 5/10    		 S$10,000 per year
  9. Each Eligible Client will only be entitled to receive a maximum of (a) one Welcome Reward and (b) one Wealth Bonus (where applicable) (each a “Cash Reward”) during the Programme Period, regardless of the number of Eligible Investment Products the Eligible Client purchases (whether singly or jointly) during the Programme Period.

  10. Cash Reward

    Type of Rewards Qualifying Criteria Cash Reward
    Welcome Reward Places Qualifying Amount of S$350,000 or more (or the equivalent in a foreign currency) S$800 credited into OCBC CASA Account
    Wealth Bonus Invest in Eligible Investment Products and meet the minimum investment amount in a single trade S$590 credited into OCBC CASA Account
  11. If the Eligible Client is subsequently discovered to be ineligible to participate in the Programme or to receive the Welcome Reward and/or the Wealth Bonus, OCBC reserves the right to (a) forfeit or withdraw the Welcome Reward and/or the Wealth Bonus at any time; or (b) (where the Welcome Reward and/or the Wealth Bonus has been redeemed) claw-back the Welcome Reward and/or the Wealth Bonus or request the relevant customer to repay to or compensate OCBC the value of the Welcome Reward and/or Wealth Bonus at any time, and OCBC shall have the right to debit the value of the Welcome Reward and/or Wealth Bonus plus any goods and services tax or such other amount as it deems fit from the account(s) of the customer. No person shall be entitled to any payment or compensation from OCBC should any Welcome Reward and/or Wealth Bonus be forfeited or withdrawn, if any Welcome Reward and/or Wealth Bonus is reclaimed by OCBC, or if a customer is asked to repay to or compensate OCBC the value of the Welcome Reward and/or Wealth Bonus for whatsoever reasons.
  12. The Welcome Reward will be credited to the Eligible Client’s OCBC CASA Account within eight weeks after the Minimum Maintenance Period or Onboarding Month, whichever later.
  13. The Wealth Bonus will be credited to the Eligible Client’s OCBC CASA Account within eight weeks after i) the Minimum Maintenance Period or Onboarding Month; or ii) upon the fulfilment of clause 8, whichever is later.
  14. OCBC reserves the right to substitute or replace the Welcome Reward and the Wealth Bonus with any item of similar value at its sole discretion without notice to any person.

General

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  15. The eligibility of any Eligible Client to receive any Welcome Reward and Wealth Bonus shall be determined at the absolute discretion of OCBC.
  16. The Programme shall not apply in conjunction with any other privileges or promotions held or conducted by OCBC.
  17. OCBC reserves the right at its absolute discretion to terminate the Programme or vary, delete or add to any of these terms and conditions at any time without notice including without limitation, the eligibility of any customer and the dates of the Programme.
  18. OCBC shall not be responsible for the quality, merchantability or fitness for any purpose or any other aspect of the Programme, or any product and/or service relating to the Programme. Notwithstanding anything herein, OCBC shall not at any time be responsible or held liable for any defect or malfunction in any product or the deficiency in any service provided, and/or any loss, injury, damage or harm suffered or incurred by or in connection with the Programme, and/or the use of any product and/or service relating to the Programme, by any person.
  19. OCBC’s decisions on all matters relating to the Programme shall be final and binding on all participants. No correspondence or appeal shall be entertained by OCBC. In the event of any inconsistency between these terms and conditions and any brochure, marketing or promotional material relating to the Programme, these terms and conditions shall prevail.
  20. OCBC shall not be responsible for any loss or damage to any person in connection with the Programme howsoever arising, including any error in computing chances, any breakdown or malfunction in any computer system or equipment, or any notice which is misdirected or lost in the post or in transmission.
  21. These terms and conditions shall be governed by the laws of Singapore and each participant in the Programme irrevocably submits to the non-exclusive jurisdiction of the courts of Singapore. A person who is not a party to any agreement governed by these terms and conditions shall have no right under the Contracts (Rights of Third Parties) Act 2001 to enforce any of these terms and conditions.
  22. By participating in this Promotion, the Eligible Client hereby agrees and consents to the collection, use and disclosure of their personal data by OCBC Bank and its related corporations (collectively, "OCBC Group") for the purposes of managing and administering this Promotion, and such other related purposes, in accordance with OCBC’s Data Protection Policy (which can be accessed via the OCBC website > Personal Banking > Policies).
  23. The terms and conditions (or any part thereof) governing the Programme may be provided in such other languages as may be published by the Bank from time to time. In the event of any conflict, discrepancy or inconsistency in interpretation between the various versions, this English version shall prevail.