• OCBC Foreign Currency Fixed Deposits

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    OCBC is Singapore’s longest locally established bank. OCBC is a product of a merger between 3 local banks in the year 1932. The bank has invested a lot of time and effort to understand the needs and requirements of their customers and thereby, has developed financial solutions that meet these needs and requirements. Through rapid expansion and mergers, the bank has spread to different communities and countries across the globe and has been named as the world’s strongest bank for 2 consecutive years in 2011 and 2012 by Bloomberg Markets magazine. OCBC is operational in more than 18 different countries and territories. OCBC provides to its customers an array of banking products and services including debit and credit cards, loans insurance and fixed deposits to name a few. Its key areas include Consumer Banking, Business Banking, Investment Banking, Transaction Banking and Global Treasury.

    OCBC Foreign Currency Time Deposit

    • The minimum initial deposit amount is 5,000 units for AUD, EUR, CAD, USD, NZD, CHF, and GBP.
    • The minimum initial deposit amount for HKD is 50,000 units or an equivalent in SGD.
    • The minimum initial deposit amount for JPY is 500,000 units or an equivalent in SGD.
    • The minimum initial deposit amount for CNH is 250,000 units or an equivalent in SGD.
    • OCBC is offering their Foreign Currency Time Deposit at a promotional interest rate of up to 2.30% per annum.

    The OCBC Foreign Currency Time Deposit is offered in the following currencies –

    • Australian Dollar (AUD)
    • Canadian Dollar (CAD)
    • Euro (EUR)
    • Sterling Pound (GBP)
    • New Zealand Dollar (NZD)
    • United States Dollar (USD)
    • Japanese Yen (JPY)
    • Hong Kong Dollar (HKD)
    • Renminbi (CNH)
    • Swiss Franc (CHF)

    Promotional Interest Rate Structure for Foreign Currency Time Deposit

    Find below the Promotional Interest Rate Structure for different schemes & currencies for a tenure of 3 months with a minimum of 5000 units and a maximum equivalent of up to SGD999,999 –

    Currency Interest Rate
    Australian Dollar (AUD) 1.50% p.a.
    New Zealand Dollar (NZD) 1.80% p.a.
    United States Dollar (USD) 1.85% p.a.

    Find below the Promotional Interest Rate Structure for different currencies for a tenure of 12 months with a minimum of 5000 units and a maximum equivalent of up to SGD999,999 –

    Currency Interest Rate
    Australian Dollar (AUD) 1.95% p.a.
    New Zealand Dollar (NZD) 2.15% p.a.
    United States Dollar (USD) 2.30% p.a.

    Note: The aforementioned rates are only applicable for fresh funds where the funds must not be transferred from any other current OCBC deposit accounts. They must also not be in any of the following forms – OCBC cheques/ demand drafts/ cashier’s orders. The promotion will continue to be applicable unless the bank decides otherwise.

    Managing your OCBC Foreign Currency Time Deposit

    • You can use OCBC Money In$ights to track your spending easily and conveniently. It will track your spending by sorting your expenditures according to categories, so that you stay aware about where exactly your money is going.
    • If any monetary loss is incurred on account of online banking fraud, OCBC guarantees a full refund of the amount.
    • Sunday at OCBC – This is a new banking experience that has been introduced in 19 OCBC bank branches in Singapore and is open all days from 11:00 a.m. to 7:00 p.m. It is called 19 full – service ‘Sunday at OCBC’.

    Eligibility Criteria for OCBC Foreign Currency Time Deposit

    The following can apply for the OCBC Foreign Currency Time Deposit –

    • Singapore Citizens
    • Singapore Permanent Residents (PRs)
    • Foreigners
    • The applicant must be at least 18 years of age.

    Documentation Requirement for OCBC Foreign Currency Time Deposit

    • Singaporean Citizens and Singapore Permanent Residents (PRs) must carry their NRIC.
    • Foreigners must carry their Passport AND Their Employment Pass (EP) or Student Pass or S – Pass.
    • All applicants must provide 5,000 units as initial deposit at the time of processing their application.
    • Additionally, one of the following documents must be submitted during the processing of their application –
      1. CPF Statement for a half year
      2. Phone Bill
      3. Bank Statement (ANY)

    Applying for the OCBC Foreign Currency Time Deposit

    • You can apply directly at an OCBC Bank Branch near you by carrying all the required documents stated above.
    • If you are an existing OCBC customer, you can apply online via online banking. If you do not have online banking, you can sign up immediately for online banking and apply for the OCBC Foreign Currency Time Deposit.

    Interest Rate Structure for OCBC Foreign Currency Time Deposit

    Find below the OCBC Foreign Currency Time Deposit interest rates for American Dollar (USD)

    Time Deposit Amt 1-month 2-month 3-month 5-month 6-month 7-month 8-month 9-month 12-month
    First $49,999 1.09% p.a. 1.17% p.a. 1.41% p.a. 1.43% p.a. 1.44% p.a. 1.45% p.a. 1.48% p.a. 1.50% p.a. 1.57% p.a.
    $50,000 - $99,999 1.17% p.a. 1.26% p.a. 1.50% p.a. 1.52% p.a. 1.54% p.a. 1.55% p.a. 1.59% p.a. 1.60% p.a. 1.68% p.a.
    $100,000 - $249,999 1.25% p.a. 1.34% p.a. 1.58% p.a. 1.62% p.a. 1.63% p.a. 1.65% p.a. 1.69% p.a. 1.71% p.a. 1.79% p.a.
    $250,000 - $499,999 1.33% p.a. 1.42% p.a. 1.67% p.a. 1.71% p.a. 1.73% p.a. 1.75% p.a. 1.79% p.a. 1.81% p.a. 1.90% p.a.
    Above $500,000 1.40% p.a. 1.50% p.a. 1.76% p.a. 1.80% p.a. 1.82% p.a. 1.85% p.a. 1.89% p.a. 1.91% p.a. 2.01% p.a.

    Find below the OCBC Foreign Currency Time Deposit interest rates for Australian Dollar (AUD) –

    Time Deposit Amount 1-month 2-month 3-month 5-month 6-month 7-month 8-month 9-month 12-month
    First $49,999 0.29% p.a. 0.25% p.a. 0.39% p.a. 0.39% p.a. 0.39% p.a. 0.39% p.a. 0.37% p.a. 0.37% p.a. 0.40% p.a.
    $50,000 - $99,999 0.49% p.a. 0.48% p.a. 0.62% p.a. 0.64% p.a. 0.64% p.a. 0.64% p.a. 0.63% p.a. 0.63% p.a. 0.66% p.a.
    $100,000 - $249,999 0.70% p.a. 0.70% p.a. 0.86% p.a. 0.88% p.a. 0.89% p.a. 0.89% p.a. 0.88% p.a. 0.88% p.a. 0.93% p.a.
    $250,000 - $499,999 0.91% p.a. 0.92% p.a. 1.10% p.a. 1.13% p.a. 1.14% p.a. 1.14% p.a. 1.13% p.a. 1.14% p.a. 1.19% p.a.
    Above $500,000 1.11% p.a. 1.15% p.a. 1.33% p.a. 1.37% p.a. 1.39% p.a. 1.39% p.a. 1.39% p.a. 1.39% p.a. 1.46% p.a.

    Find below the OCBC Foreign Currency Time Deposit interest rates for Canadian Dollar (CAD) –

    Time Deposit Amount 1-month 2-month 3-month 5-month 6-month 7-month 8-month 9-month 12-month
    First $49,999 0.49% p.a. 0.50% p.a. 0.68% p.a. Not Available 0.74% p.a. Not Available Not Available 0.73% p.a. 0.83% p.a.
    $50,000 - $99,999 0.54% p.a. 0.57% p.a. 0.74% p.a. Not Available 0.81% p.a. Not Available Not Available 0.81% p.a. 0.92% p.a.
    $100,000 - $249,999 0.60% p.a. 0.63% p.a. 0.81% p.a. Not Available 0.89% p.a. Not Available Not Available 0.89% p.a. 1.01% p.a.
    $250,000 - $499,999 0.66% p.a. 0.70% p.a. 0.87% p.a. Not Available 0.96% p.a. Not Available Not Available 0.97% p.a. 1.10% p.a.
    Above $500,000 0.72% p.a. 0.76% p.a. 0.94% p.a. Not Available 1.04% p.a. Not Available Not Available 1.06% p.a. 1.19% p.a.

    Find below the OCBC Foreign Currency Time Deposit interest rates for Euro (EUR) –

    Time Deposit Amount 1-month 2-month 3-month 5-month 6-month 7-month 8-month 9-month 12-month
    First $49,999 Not Available Not Available Not Available Not Available Not Available Not Available Not Available Not Available Not Available
    $50,000 - $99,999 Not Available Not Available Not Available Not Available Not Available Not Available Not Available Not Available Not Available
    $100,000 - $249,999 Not Available Not Available Not Available Not Available Not Available Not Available Not Available Not Available Not Available
    $250,000 - $499,999 Not Available Not Available Not Available Not Available Not Available Not Available Not Available Not Available Not Available
    Above $500,000 Not Available Not Available Not Available Not Available Not Available Not Available Not Available Not Available Not Available

    Find below the OCBC Foreign Currency Time Deposit interest rates for Hong Kong Dollar (HKD) –

    Time Deposit Amount 1-month 2-month 3-month 5-month 6-month 7-month 8-month 9-month 12-month
    First 500,000 units 0.32% p.a. 0.38% p.a. 0.46% p.a. Not Available 0.45% p.a. Not Available Not Available 0.52% p.a. 0.55% p.a.
    500,000 units - 999,999 units 0.37% p.a. 0.43% p.a. 0.51% p.a. Not Available 0.52% p.a. Not Available Not Available 0.59% p.a. 0.63% p.a.
    1,000,000 units - 1,999,999 units 0.42% p.a. 0.48% p.a. 0.56% p.a. Not Available 0.58% p.a. Not Available Not Available 0.66% p.a. 0.71% p.a.
    2,000,000 units - 4,999,999 units 0.47% p.a. 0.53% p.a. 0.61% p.a. Not Available 0.64% p.a. Not Available Not Available 0.73% p.a. 0.78% p.a.
    Above 5,000,000 units 0.52% p.a. 0.58% p.a. 0.67% p.a. Not Available 0.70% p.a. Not Available Not Available 0.80% p.a. 0.86% p.a.

    Find below the OCBC Foreign Currency Time Deposit interest rates for Sterling Pound (GBP) –

    Time Deposit Amount 1-month 2-month 3-month 5-month 6-month 7-month 8-month 9-month 12-month
    First $49,999 0.30% p.a. Not Available Not Available Not Available Not Available Not Available Not Available Not Available Not Available
    $50,000 - $99,999 0.30% p.a. 0.04% p.a. Not Available Not Available Not Available Not Available Not Available Not Available Not Available
    $100,000 - $249,999 0.30% p.a. 0.09% p.a. Not Available Not Available Not Available Not Available Not Available Not Available Not Available
    $250,000 - $499,999 0.30% p.a. 0.14% p.a. 0.06% p.a. 0.04% p.a. 0.03% p.a. 0.04% p.a. 0.03% p.a. 0.04% p.a. 0.09% p.a.
    Above $500,000 0.30% p.a. 0.18% p.a. 0.14% p.a. 0.15% p.a. 0.14% p.a. 0.15% p.a. 0.14% p.a. 0.15% p.a. 0.22% p.a.

    Find below the OCBC Foreign Currency Time Deposit interest rates for New Zealand Dollar (NZD) –

    Time Deposit Amt 1-month 2-month 3-month 5-month 6-month 7-month 8-month 9-month 12-month
    First $49,999 0.19% p.a. 0.18% p.a. 0.34% p.a. 0.35% p.a. 0.35% p.a. 0.35% p.a. 0.35% p.a. 0.35% p.a. 0.39% p.a.
    $50,000 - $99,999 0.40% p.a. 0.41% p.a. 0.57% p.a. 0.58% p.a. 0.59% p.a. 0.59% p.a. 0.59% p.a. 0.59% p.a. 0.64% p.a.
    $100,000 - $249,999 0.62% p.a. 0.63% p.a. 0.81% p.a. 0.82% p.a. 0.83% p.a. 0.83% p.a. 0.84% p.a. 0.84% p.a. 0.89% p.a.
    $250,000 - $499,999 0.83% p.a. 0.85% p.a. 1.04% p.a. 1.06% p.a. 1.07% p.a. 1.07% p.a. 1.08% p.a. 1.08% p.a. 1.14% p.a.
    Above $500,000 1.05% p.a. 1.08% p.a. 1.27% p.a. 1.30% p.a. 1.32% p.a. 1.32% p.a. 1.32% p.a. 1.32% p.a. 1.38% p.a.

    Find below the OCBC Foreign Currency Time Deposit interest rates for Swiss Franc (CHF) –

    Time Deposit Amount 1-month 2-month 3-month 5-month 6-month 7-month 8-month 9-month 12-month Value Date
    First $49,999 Not Available Not Available Not Available Not Available Not Available Not Available Not Available Not Available Not Available
    $50,000 - $99,999 Not Available Not Available Not Available Not Available Not Available Not Available Not Available Not Available Not Available
    $100,000 - $249,999 Not Available Not Available Not Available Not Available Not Available Not Available Not Available Not Available Not Available
    $250,000 - $499,999 Not Available Not Available Not Available Not Available Not Available Not Available Not Available Not Available Not Available
    Above $500,000 Not Available Not Available Not Available Not Available Not Available Not Available Not Available Not Available Not Available

    Note: All the rates mentioned in the above tables have been quoted on per annum basis. These rates are subject to change as per the discretion of the bank without prior notice.

    Frequently Asked Questions

    1. What are the foreign currencies accepted for the OCBC Foreign Currency Time Deposit?
    2. OCBC accepts the following foreign currencies - Australian Dollar (AUD), Canadian Dollar (CAD), Euro (EUR), Sterling Pound (GBP), New Zealand Dollar (NZD), United States Dollar (USD), Japanese Yen (JPY), Renminbi(CNH), Swiss Franc (CHF), and Hong Kong Dollar (HKD).

    3. How do I apply for the OCBC Foreign Currency Time Deposit?
    4. If you are a new customer, you can apply for the OCBC Foreign Currency Time Deposit directly at any of the 22 OCBC bank branches near you. Please be sure to carry the requested documents for processing your application. If you are an existing OCBC customer, you can apply online via Online Banking. If you do not have access to Online Banking, you can immediately apply for Online Banking and then apply for the OCBC Foreign Currency Time Deposit.

    5. What is the promotional interest rate structure offered by the OCBC Foreign Currency Time Deposit?
    6. You can avail a promotional interest rate of up to 2.30% p.a. However, the interest rate structure varies depending on the foreign currency and the fixed deposit tenure.

    7. What are the tenures offered for the OCBC Foreign Currency Time Deposit?
    8. You can open an OCBC Foreign Currency Time Deposit account for the following tenures – 1, 2, 3, 5, 6, 7, 8, 9 and 12 months.

    9. What is the initial deposit amount for the OCBC Foreign Currency Time Deposit?
    10. OCBC accepts an initial deposit of 5000 units for the following currencies – CAD, AUD, USD, CHF, GBP, EUR, and NZD. The eligible initial deposit for HKD is 50,000 units, initial deposit for HKD is 250,000 units, and the eligible initial deposit for JPY is 500,00 units or an equivalent in SGD.

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