Monday, April 24, 2017

Do not accept verbal explanation from the staff.

Dear Mr Tan,

Recently I enquired about a 12.45% interest, 6-year structured deposit as advertised by OCBC bank. The OCBC staff who attended to me explained that not only is the capital guaranteed after a tenure of 6 years, the interests paid out every 6 months are also guaranteed, provided there is no early termination by the bank and it remains solvent.

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