Changes to the Provisions for Profit Sharing Payment for Closing iB Deposits before Maturity:
Bank OCBC NISP's Sharia Business Unit applies changes to the provisions on the withdrawal of iB Deposits before they break due. The provisions in question are as follows:
- Customers who close iB Deposits before maturity (break) are not given profit sharing in the current month for the placement of the iB Deposits. This provision applies to the placement and extension of iB Deposits since May 13, 2019.
- Additional General Terms & Conditions regarding product rules in point 1 must be signed by the Customer when opening an iB Deposit account.
- Changes to the terms and conditions charged for withdrawing iB deposits before maturity, which are as follows:
- For IDR iB Deposits:
Withdrawing IDR iB Deposits before maturity is subject to a fee of IDR 100 thousand for each nominal multiple of IDR 10 million
- For iB USD Deposits:
Withdrawals of iB USD Deposits before maturity are subject to a fee of USD 10 for each nominal multiple of USD 1 thousand
- Changes to the terms and conditions for withdrawing the iB Deposit before maturity, both in IDR and US Dollar, will take effect on July 17, 2019.
- The above provisions apply to opening iB Deposit accounts, both through Sharia Branch Offices and Sharia Service Offices, as well as opening iB Deposit accounts through the Internet / Mobile Banking Bank OCBC NISP.
