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Regular Premium Insurance Plan/3-month SGD Fixed Deposit (FD) Bundle Promotion Terms and Conditions

 

  1. The promotion start date is 13 August 2013 and will be until such date as may be determined and notified by Oversea-Chinese Corporation Bank Limited (“OCBC Bank”) in its sole discretion.
  2. The promotional offer comprises a Regular Premium Plan (“RP”) and a SGD Fixed Deposit transaction (“FD”) Bundle (“The Bundle”) to be taken up by the customer concurrently.
  3. “Fresh funds” refer to funds, received on the day of the promotion sign-up, in the form of non OCBC cheques/ cashier’s orders/ demand drafts as well as other funds that are not transferred from any existing OCBC Bank deposit accounts.
  4. The FD duration is for 3 months only.
  5. The following rules apply to the Bundle:
    (i) Minimum FD amount = SGD 5,000
    (ii) Minimum annual premium for the RP to participate in this promotion is SGD 25,000
    (iii) Maximum FD amount = up to 3 times of the annual premium amount of the RP or SGD 999,999, whichever is lower
  6. The FD must be held for the entire 3-month duration. The FD placement amount will earn an interest of 4.08% p.a. Upon maturity, unless contrary instructions are received, the principal and interest earned will be auto-rolled into another 3-month deposit at the prevailing SGD FD board rate.
  7. FD account holder must be the Policy Owner of the RP.
  8. Bank of Singapore (“BOS”) customers who hold OCBC Bank accounts are not eligible to participate in the Promotion.
  9. No interest (whether at the Promotional Rate or otherwise) will be payable on the FD for early termination (i.e. termination before the entire 3-month duration) for any reason whatsoever.
  10. If the RP is not taken up / cancelled within the 14 days free-look period, or if the insurance proposal is rejected, declined or postponed for any reason whatsoever, the customer may either A) withdraw the FD without any interest or B) continue the FD with OCBC Bank at the prevailing 3-month SGD FD board rate of OCBC Bank. Provided that if the cancellation / rejection of the RP takes place after the promotional interest rate on the matured FD has been paid out to the customer, OCBC Bank reserves the right to deduct, from any of the customer’s account(s) with OCBC Bank, an amount equal to the difference between (i) the interest amount paid to the customer at the promotional interest rate and (ii) the interest amount that would have been paid to the customer at the prevailing 3-month SGD FD board rate of OCBC Bank, on the FD.
  11. This Promotion is not valid with other offers, bundles or promotions held by OCBC Bank unless otherwise stated.
  12. These terms and conditions shall be read in conjunction with the OCBC Terms and Conditions Governing Deposits Accounts (available at www.ocbc.com) and Terms and Conditions relating to Regular Premium Insurance Plan prevail. In the event of any inconsistency between these terms and conditions of the Promotion on one part and the OCBC Terms and Conditions Governing Deposits Accounts on the other part, these terms and conditions shall prevail.
  13. OCBC Bank reserves the right to waive/vary/delete any of these terms and conditions without notice. The decision of OCBC Bank on all matters relating to this Promotion shall be final and binding on all customers.
  14. In the event of any inconsistency between these terms and conditions and any brochure, marketing or promotional material relating to this Promotion, these terms and conditions shall prevail.
  15. These terms and conditions shall be governed by the laws of Singapore and the customer irrevocably submits to the non-exclusive jurisdiction of the courts of Singapore.
  16. 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.