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Terms and Conditions Governing OCBC SavvyExec Program
Terms and conditions governing Salary Crediting Promotion
1. Eligibility
1.1 This promotion is only open to customers who are applying for new salary crediting arrangements into their OCBC personal accounts. These accounts should be in good standing throughout the promotion. You will not enjoy the promotion premiums if your salary is already deposited into an OCBC account.
1.2 We shall determine the promotion period.
2. Mechanics
2.1 Account holders who fulfill the conditions in Clause 2.2 and have successfully applied for Salary Crediting with us will be entitled to a promotion gift we determine for the promotion.
2.2 To be eligible for the gift, the following conditions apply:
a) Only applicants for new salary crediting arrangements are eligible. Customers with existing salary crediting arrangements are not eligible.
b) For mail-in applications, only individual accounts will be accepted. Joint account applications will not be accepted.
c) You must credit a salary of at least S$2,000 (after all deductions such as CPF contributions) into your account each month.
d) Your first salary crediting must be made within three months from the date of your application.
e) You must ensure at least 6 consecutive months of salary crediting into your account.
2.3 You will be entitled to the promotion gift once even if you have multiple applications.
2.4 You will be notified by post at your mailing address if you qualify for any promotional gift that needs to be redeemed in person. You should redeem the gift during the stipulated period as stated.
2.5 If you sign up for salary crediting using non-chequing account or FRANK account:
You will be entitled to the following account fee waivers on condition that your salary is credited into your account within 6 months from the date the account is opened (the "Account Opening Date"). If your salary is not credited into your account within 6 months after the Account Opening Date (or if your salary is no longer credited to your account for any month after the aforesaid 6-month period), we shall be entitled to impose certain fee charges on you (see below), which would be debited from your account.
2.6 If you sign up for salary crediting using chequing account:
You will be entitled to the following account fee waivers on condition that your salary is credited into your account within 6 months from the date the account is opened. Thereafter, we shall be entitled to impose certain fee charges on you (see below), which would be debited from your account.
| Account | Fee waiver entitlement when you salary credit | Fee charges with no salary credit after 6 months account is opened |
|---|---|---|
| Non-chequing accounts | Service fee waived | S$2 monthly service fee applies if average monthly balance falls below S$1,000 |
| FRANK Account | Service fee waived | S$2 monthly service fee applies if average monthly balance falls below S$1,000 (if you are above 26 years old) |
| Account | Fee waiver entitlement when you salary credit | Fee charges after 6 months account is opened (regardless of salary crediting arrangements) |
| Chequing accounts | Free cheque book Service fee waived for the first 6 months after the account is opened |
$10 per cheque book Monthly account fee of S$2 regardless of the account balance Monthly fees apply if your average monthly balance falls below S$3,000: |
3. General
3.1 These terms and conditions prevail over all others in any application form, brochure, marketing or promotional material relating to the Promotion.
3.2 We have the right to forfeit or reclaim the promotion gift if you do not fulfill the conditions in Clause 2.2.
3.3 We will not be responsible or held liable for any loss or damage relating to the Promotion, such as errors in computing changes, breakdowns or malfunctions in systems or equipment. We will not be responsible for lost, late, misdirected, damaged, incomplete, illegible and/or postage-due mails.
3.4 Our decision on all matters and our record(s) of entries relating to the Promotion is final, binding and conclusive. We will not entertain further correspondence on these matters.
3.5 We may change the criteria on the eligibility of any customers, the bases and methods of determination of eligibility and dates relating to the Promotion without giving prior notice. We will not be liable for any claims, costs, expenses, losses or damages suffered by anyone due to these changes.
3.6 These terms and conditions shall be governed by the laws of Singapore and the participants in the Promotion irrevocably submit to the non-exclusive jurisdiction of the courts of Singapore.
3.7 A person who is not a party to any agreement governed by these terms and conditions shall not have any right under Contracts (Rights of Third Parties) Act (Cap 53B) to enforce any of these terms and conditions.
Terms and conditions governing S$50 Cash Reward Promotion
1. The S$50 Cash Reward promotion is only limited to "Credit Your Pay" applications. The Cash Reward will be credited to your salary crediting FRANK Account within 2 months via GIRO after your first monthly salary is credited to your FRANK Account. Only FRANK customers are eligible and a minimum monthly salary of S$1400 nett per transaction is required to be eligible for the promotion. The promotion is valid till 31 December 2013. First monthly salary must be credited to the FRANK Account by 31 December 2013. This promotion is limited to one Cash Reward per customer. The eligibility of each customer to receive a Cash Reward shall be determined at the absolute discretion of OCBC Bank. The Cash Reward is not transferable or exchangeable for other items. OCBC Bank reserves the right to replace the Cash Reward with any item of similar value. OCBC Bank reserves the right to waive / vary / amend any of these terms and conditions without notice. The decision of OCBC Bank on all matters relating to the promotion shall be final and binding on all participants.
Terms and conditions governing 360 Account
1. Please refer to the Terms and Conditions Governing OCBC 360 Account (available at www.ocbc.com/360Account) for full details of the criteria for the award of the monthly bonus interests and other terms and conditions. The promotional rate of up to 1.28%p.a. is valid till 31 December 2013. All interest rates are subject to change from time to time by the Bank at this sole absolute discretion.
Terms and Conditions governing OCBC Debit Card Application
Requirements for debit card application:
1. You must be at least 16 years of age. No minimum income is required.
2. Please submit the following documents:
- Singaporeans & PR: Copy of NRIC (front and back) Foreigners: Copy of Valid Passport and student Pass, S-Pass or Employment Pass
- Latest original telephone/mobile and address as in application form and NRIC. (If you do not have any of the above documents, please visit any OCBC branch with this application form and your NRIC or Passport and Student Pass, S-Pass or Employment Pass (for foreigners) to submit your application.)
| Debit card yearly fees | |
|---|---|
| OCBC Yes! Card | No yearly fee |
| Frank Debit Card– VISA | No yearly fee |
Terms and Conditions governing FRANK Debit Card
General:
- You agree to and shall abide by all terms and conditions governing card replacement (“Card Replacement”) set out below.
- You shall not duplicate or distribute any card designs (including logos) without the prior written consent of OCBC Bank, regardless of whether such card designs are currently in circulation or public domain.
- You agree that OCBC Bank shall not be responsible or liable for and agree to absolve OCBC Bank from all responsibilities or liabilities arising out of or in connection with any card design, including but not limited to that related to picture quality, third party’s claims and errors and/or inconsistencies between the picture designs displayed at the store, online and other forms or means in any manner.
- You accept that OCBC Bank may terminate, discontinue or withdraw the use or availability of any card designs at any time without notice to you.
- You agree to pay OCBC Bank the prevailing card design fee for any card design selected by you whenever you apply for or replace any card and this includes any similar card designs previously selected and paid by you. You agree that the card design fee may be paid by debiting any of your accounts with OCBC Bank or other means as the Bank may agree.
- You accept that OCBC Bank may vary the card design fee of any card at any time and from time to time and will not refund nor return the difference between the card design fee previously paid by you and the revised card design fee.
- You accept that OCBC Bank reserves the right to select any card design for you in the event that a card design is not selected, indicated or stated clearly in your application form, replacement form or card design request form.
Terms and conditions for NETS FlashPay (FRANK Debit Card)
I acknowledge that the card comes with a NETS FlashPay stored value facility held and operated by Network for Electronic Transfers (Singapore) Pte Ltd. I give you my permission to share information about me or my account as you consider appropriate to NETS or other persons as may be necessary for the usage of the stored value facility. By applying for this card, I agree to, and will use the card according to the terms of "NETS Terms and Conditions Governing the Use of NETS FlashPay" (available at www.netsflashpay.com.sg).
Terms and Conditions governing OCBC Credit Card
Requirements for credit card application:
1. You must be aged 21 or over.
2. The minimum qualifying income you must have each year is as follows.
a) S$38,000 (for OCBC Titanium Mastercard only)
b) S$30,000 (for OCBC Platinum Mastercard, OCBC Arts Platinum Mastercard, Plus! Visa Card, OCBC Cashflo MasterCard, OCBC Robinsons Visa Platinum, BEST-OCBC Platinum MasterCard, FRANK Credit Card)
c) S$15,000 (if you are aged 55 or above)
With effect from 1 April 2012, the annual fees and late payment fees will be revised.
| Credit card yearly fees | |
|---|---|
| OCBC Titanium MasterCard | No yearly fee for the first two years, then S$192.20 (inclusive of 7% GST) a year for the main card |
| OCBC Platinum MasterCard | No yearly fee for the first two years, then S$160.50 (inclusive of 7% GST) a year for the main card |
| OCBC Cashflo MasterCard | No yearly fee for the first two years, then S$64.20 (inclusive of 7% GST) a year for the main card |
| OCBC Arts Platinum MasterCard | No yearly fee for the first two years, then S$160.50 (inclusive of 7% GST) a year for the main card |
| OCBC Robinsons Visa Platinum | No yearly fee for the first two years, then S$128.40 (inclusive of 7% GST) a year for the main card |
| BEST-OCBC Platinum MasterCard | No yearly fee for the first two years, then S$53.50 (inclusive of 7% GST) a year for the main card |
| Plus! Visa Card | No yearly fee for the first two years, then S$38.52 (inclusive of 7% GST) a year for the main card |
| Extra information for credit card applications | |
|---|---|
| Minimum Payment | 3% of the total balance or S$50, whichever is higher, plus any overdue amount and any amount by which you are over your credit limit. |
| Late Payment Fee | S$60 if we do not receive the minimum payment shown on your credit card bill by the payment due date. S$55 for Plus! Visa Card if we do not receive the minimum payment shown on your credit card bill by the payment due date. |
| Interest Charges | The effective interest rate is 24.96% per annum, with a minimum of S$2.50 per month. Interest is subject to compounding if the monthly interest charges are not repaid in full. This rate is calculated on the daily outstanding balance. The interest will also be levied on all new purchases charged to your card account from the date of purchase(s). |
| Cash Advance Fee | 6% on the amount withdrawn, minimum charge of S$15. |
| Interest Charges for Cash Advances | If you do not pay the monthly interest charges in full, interest will be charged at 28.92% per annum, with a minimum S$2.50 per month. This rate is calculated on the daily outstanding balance. |
| Frank Alert! Fees and charges you should know | |
|---|---|
| Card design fee | S$0-S$50 depending on card design. Fee also applies for card design change. Please visit FrankbyOCBC.com for card design ID and fees. |
| Annual fee | S$32.10(first year waived for Principal and Supplementary Cards). A minimum of S$6,000 annual visa spend is required for subsequent annual fee waiver. |
| Card replacement fee | S$30 plus card design fee. |
| Minimum monthly payment | 3% of total balance or S$50, whichever is higher, plus any overdue amount and credit limit excess. |
| Late payment fee | S$60 if minimum payment is not received by the Payment Due Date. |
| Interest charges | 24.96%p.a. of the amount you withdraw subject to compounding if you don't pay the monthly interest charges in full(minimum charge of S$2.50). |
| Cash advance fee | 6% of the amount you withdraw(minimum S$15). |
| Interest charges for cash advance | 28.92%p.a. of the amount you withdraw subject to compounding if you don't pay the monthly interest charges in full(minimum interest charge of S$2.50). |
| Nets FlashPay top-up fee | S$50(top-up value). S$0.25 per automatic top-up(waived till 30 Sep 2013). |
Terms and conditions for NETS FlashPay(FRANK Credit Card)
I acknowledge that the card comes with a NETS FlashPay stored value facility held and operated by Network for Electronic Transfers (Singapore) Pte Ltd. I give you my permission to share information about me or my account as you consider appropriate to NETS or other persons as may be necessary for the usage of the stored value facility.
I agree to be registered to the NETS FlashPay Auto Top Up (ATU) facility. The NETS FlashPay ATU facility will automatically top up my card value when there is an insufficient value on my card when making payment transactions for MRT/LRT fare, SMRT/SBS Buses Fare, ERP and EPS (CEPAS enabled car parks only). You will charge the Auto Top Up amount to the credit card, when the top-up is performed at a later date. The automatic top-up value is set at S$50 and may not be changed.
I agree to, and will use the card according to, the terms of "NETS Terms and Conditions Governing the Use of NETS FlashPay" and "NETS' Terms and Conditions Governing the Use of the NETS ATU Facility for the Bank Scheme Card" (available at www.netsflashpay.com.sg).
Terms and conditions governing OCBC EasiCredit application
1. This promotion is not valid for existing EasiCredit account holders or customers who have recently closed their account and reapplied for EasiCredit in the six months immediately before the promotion period.
2. The offer depends on the approval of your application.
3. If you do not pay the monthly interest charges in full, we will add compound interest. (This is where we charge interest on the interest you owe, then add this to the amount you owe.) Please visit www.ocbc.com/EasiCredit for details of the product features, interest and fees & charges of EasiCredit.
4. The Terms and Conditions Governing Personal Line of Credit Accounts and the Terms and Conditions Governing Deposit Accounts apply.
5. You will be entitled to a promotion premium if your application is successful and you maintain the EasiCredit account for at least six months. We will not be responsible if any gift we give you in connection with this promotion is of poor quality, is not suitable to be sold or is not fit for any purpose. We will not at any time be responsible or held liable for any fault in any gift, or for any loss, injury, damage or harm suffered by any person in connection with using any gift. We have the right to change, amend or choose not to enforce any of these terms and conditions without giving you any notice. Our decision on all matters relating to this promotion will be final and binding.
| EasiCredit Fees & Charges | ||
|---|---|---|
| For Annual Income of S$30,000 or more | For Annual Income of S$20,000 - S$29,999 | |
| Effective Interest Rate | 1.50% per month∞ (17.95% per annum) | 2.49% per month∞ (29.8% per annum) |
| Minimum Payment | 3% of the outstanding amount or S$50, whichever is higher | 5% of the outstanding amount or S$50, whichever is higher |
| Minimum Interest Charge | S$5 | |
| Late Payment Fee | 25% of the amount past due if Minimum Payment is not received by payment due date, subject to a minimum charge of S$85 and a maximum charge of S$125 | S$80 will be charged if Minimum Payment is not received by payment due date |
∞Please note that if the minimum payment to your Easicredit account is not made on time, the prevailing interest rate applicable to your outstanding amount(s) may be increased up to 36% p.a.. Effective Interest Rate is subject to compounding if the monthly interest charges are not repaid in full.
Terms and conditions governing OCBC Joint Salary Crediting and Credit Card Promotion
1. This promotion is open only to those customers who have their salary paid into a Singapore dollar (SGD or S$) Deposit Account held with us and who successfully applied for a credit card under this promotion.
2. You will be entitled to the promotion gift if you successfully apply for a salary-crediting account and a credit card and fulfill the conditions set out in clauses 4 and 5.
3. This promotion is not valid with other offers or promotions unless we tell you otherwise.
4. For the purpose of this promotion, you must credit a salary of at least S$2,000 (after all deductions such as CPF contributions).
5. Your first salary crediting must be made and your credit card application approved within three months from the date of your application.
6. If we reject either the credit card or salary crediting account applications, you will not qualify for this promotion. However, you will enjoy the ongoing promotion for whichever product you have successfully applied for.
7. We will not be responsible if any gift we give you in connection with this promotion is of poor quality, is not suitable to be sold or is not fit for any purpose. We will not at any time be responsible or held liable for any fault in any gift, or for any loss, injury, damage or harm suffered by any person in connection with using any gift.
8. We have the right to change, amend or choose not to enforce any of these terms and conditions without giving you any notice. Our decision on all matters relating to this promotion will be final and binding.
9. The OCBC Terms and Conditions Governing Deposit Accounts apply. Click here to find out.
10. The OCBC Cardmembers Agreement apply. Click here to find out.
11. If there is any inconsistency between these terms and conditions and any brochure, marketing or promotional material relating to the promotion, these terms and conditions will take priority.
12. These terms and conditions shall be governed by the laws of Singapore and the participants in the Promotion irrevocably submit to the nonexclusive jurisdiction of the courts of Singapore.
13. A person who is not a party to any agreement governed by these terms and conditions shall have no right under the Contracts (Rights of Third Parties) Act (Cap 53B) to enforce any of these terms and conditions.
Terms and conditions governing OCBC Joint Salary Crediting, Credit Card & EasiCredit Bundle Promotion
1. This promotion is open only to those customers who have their salary paid into a Singapore dollar (SGD or S$) Deposit Account held with us and who have successfully applied for a credit card and an OCBC EasiCredit facility under this promotion.
2. You will be entitled to the promotion gift if you successfully apply for a salary-crediting account, a credit card and an OCBC EasiCredit facility and fulfill the conditions set out in clauses 4 and 5.
3. This promotion is not valid with other offers or promotions unless we tell you otherwise.
4. For the purpose of this promotion, you must credit a salary of at least S$2,000 (after all deductions such as CPF contributions).
5. Your first salary crediting must be made and your credit card and OCBC EasiCredit facility applications must be approved within three months from the date of your application.
6. If we reject either the credit card or OCBC EasiCredit facility or salary crediting account applications, you will not qualify for this promotion. However, you will enjoy the ongoing promotion for whichever product you have successfully applied for.
7. We will not be responsible if any gift we give you in connection with this promotion is of poor quality, is not suitable to be sold or is not fit for any purpose. We will not at any time be responsible or held liable for any fault in any gift, or for any loss, injury, damage or harm suffered by any person in connection with using any gift.
8. We have the right to change, amend or choose not to enforce any of these terms and conditions without giving you any notice. Our decision on all matters relating to this promotion will be final and binding.
9. The OCBC Terms and Conditions Governing Deposit Accounts apply. Click here to find out.
10. The OCBC Cardmembers Agreement apply. Click here to find out.
11. The Terms and Conditions Governing Personal Line of Credit Accounts apply. Click here to find out.
12. If there is any inconsistency between these terms and conditions and any brochure, marketing or promotional material relating to the promotion, these terms and conditions will take priority
13. These terms and conditions shall be governed by the laws of Singapore and the participants in the Promotion irrevocably submit to the nonexclusive jurisdiction of the courts of Singapore.
14. 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 (Cap 53B) to enforce any of these terms and conditions.
Terms and conditions governing OCBC Joint Salary Crediting & EasiCredit Bundle Promotion
1. This promotion is open only to those customers who have their salary paid into a Singapore dollar (SGD or S$) Deposit Account held with us and who successfully applied for an OCBC EasiCredit facility under this promotion.
2. You will be entitled to the promotion gift if you successfully apply for a salary-crediting account and OCBC EasiCredit facility account and fulfill the conditions set out in clauses 4 and 5.
3. This promotion is not valid with other offers or promotions unless we tell you otherwise.
4. For the purpose of this promotion, you must credit a salary of at least S$2,000 (after all deductions such as CPF contributions).
5. Your first salary crediting must be made and your OCBC EasiCredit facility application must be approved within three months from the date of your application.
6. If we reject either your OCBC EasiCredit facility or salary crediting account applications, you will not qualify for this promotion. However, you will enjoy the ongoing promotion for whichever product you have successfully applied for.
7. We will not be responsible if any gift we give you in connection with this promotion is of poor quality, is not suitable to be sold or is not fit for any purpose. We will not at any time be responsible or held liable for any fault in any gift, or for any loss, injury, damage or harm suffered by any person in connection with using any gift.
8. We have the right to change, amend or choose not to enforce any of these terms and conditions without giving you any notice. Our decision on all matters relating to this promotion will be final and binding.
9. The OCBC Terms and Conditions Governing Deposit Accounts apply. Click here to find out.
10. The Terms and Conditions Governing Personal Line of Credit Accounts apply. Click here to find out.
11. If there is any inconsistency between these terms and conditions and any brochure, marketing or promotional material relating to the promotion, these terms and conditions will take priority.
12. These terms and conditions shall be governed by the laws of Singapore and the participants in the Promotion irrevocably submit to the nonexclusive jurisdiction of the courts of Singapore.
13. 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 (Cap 53B) to enforce any of these terms and conditions.
Deposit Insurance Scheme
Singapore dollar deposits of non-bank depositors and monies and deposits denominated in Singapore dollars under the Supplementary Retirement Scheme are insured by the Singapore Deposit Insurance Corporation, for up to S$50,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.
