Terms and Conditions - Salary Crediting - University Students

Terms and Conditions Governing OCBC Salary Crediting Promotion for Graduating University Students

The following terms and conditions shall apply to the OCBC Salary Crediting Promotion for Graduating University Students (the “Promotion”).

1.  Eligibility

1.1  The Promotion is open only to final year National Unversity of Singapore undergraduates (as at 13 Jun 2011) who are holders of Eligible Accounts as described in these terms and conditions.

1.2  “Eligible Accounts” refers to individual (personal) accounts (excluding joint accounts) held with Oversea-Chinese Banking Corporation Limited (“OCBC”) as listed in Appendix A (as may be supplemented, amended and/or modified at any time and from time to time by OCBC at its sole and absolute discretion) which are in good standing at all times during the Promotion as determined by OCBC at its sole and absolute discretion.

1.3  The Promotion shall be available only during such period(s) as notified by OCBC at its sole and absolute discretion (“Promotion Period”).

2.  Mechanics

2.1  Subject to the conditions set out in clause 2.2, holders of Eligible Accounts who successfully apply for Salary Crediting with OCBC using the prescribed application form(s) will be entitled to a reward (the “Reward”) as may be determined by OCBC from time to time at its sole and absolute discretion. 

2.2  To be eligible for the Reward, the following conditions apply:

(a) New applications for salary crediting only, i.e. customers with existing arrangements for salary crediting to an OCBC account are not eligible.

(b) For the purpose of this Promotion, the amount of salary credited into the customer's salary account with OCBC shall be at least S$2,000 nett amount after all deductions such as Central Provident Fund (CPF) contribution (the “Salary Crediting Amount”).

(c) The Salary Crediting Amount to be placed by a customer into his/her salary account must be at least S$2,000 nett per transaction per month, and not a total of two or more transactions per month.

(d) First salary crediting must be done by 31 Oct 2011.

(e) Salary Crediting must be for at least 6 consecutive months.

2.3  The Reward is awarded once only. For the avoidance of doubt, if a customer fails to meet any of the conditions set out herein, OCBC may at its discretion forfeit the Reward(s) (or reclaim it/them if already awarded).

3.  General

3.1  In the event of any inconsistency between these terms and conditions and any application form, brochure, marketing or promotional material relating to the Promotion, these terms and conditions shall prevail.

3.2  If OCBC subsequently discovers that a person is in fact not eligible to participate in the Promotion or any of the applicable conditions are not fulfilled, OCBC may at its discretion forfeit the Reward(s) (or reclaim it/them if already awarded). No person shall be entitled to any payment or compensation from OCBC should any Reward be forfeited/reclaimed.

3.3 OCBC shall not be liable to any account holder or any other persons for any loss or damage in connection with the Promotion, including without limitation, any error in computing any changes, any breakdown or malfunctions in any computer system or equipment. Without prejudice to the generality of the foregoing, OCBC assumes not responsibility for lost, late, misdirected, damaged, incomplete, illegible and/or postage-due mail.

3.4  The decision of OCBC on all matters relating to the Promotion shall be final, binding and conclusive for all participants and any other persons, including, without limitation, any decision to cancel or suspend the Promotion. Subject to and without prejudice to the generality of the foregoing, OCBC's record(s) of entries and/or Promotion shall be final, binding and conclusive for all purposes and in any legal proceedings. No correspondence will be entertained.

3.5  OCBC may at any time and at its absolute discretion, without notice or assigning any reason therefore, delete, vary, supplement, amend or modify any one or more of these terms and conditions in such manner as OCBC shall think fit, including without limitation, the eligibility of any customer, the bases and methods of determination of eligibility and any dates in connection with the Promotion and replacing the reward with another item of similar value. OCBC shall not, to the extent permitted by law, be liable for any claims, costs, expenses, losses or damages suffered by any person as a result of the aforementioned matters.

3.6 OCBC shall not be responsible for the quality, merchantability or the fitness for any purpose or any other aspect of any reward. Notwithstanding anything herein, OCBC shall not at any time be responsible or held liable for any defect or malfunction in any reward, and/or for any loss, injury, damage or harm suffered or incurred by or in connection with the use of any reward by any person.
3.7  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.

3.8  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) Art (Cap 53B) to enforce any of these terms and conditions.

Appendix A

Eligible Accounts for OCBC Salary Crediting Promotion for Graduating University Students

1. The following types of accounts are eligible for the Promotion:

• Al-Wadiah Savings Account 
• Al-Wadiah Current Account
• Basic Banking Account
• Current Account
• EasiSave 
• EasiSave Gold 
• Esteem Account 
• Statement Savings 
• Passbook Savings Account 
• PLUS Account • Moneymax 
• MOI Account • SmartSavings 
• SmartParent 
• SmartSenior 
• Premier Statement Savings 
• Premier EasiSave
• FRANK Account