One lucky OCBC customer walked away from the OCBC Happy Savings Grand Draw 2009 event with $200,000 more in his pocket yesterday.

53-year-old Mr Teo Teong Ho held the key to the OCBC Happy Savings Treasure Box and emerged the top prize winner.

He shared: 'I'm very happy that I won $200,000 simply by saving with OCBC Bank. By giving cash instead of other prizes such as cars or condominium, OCBC Bank has given me total freedom to do what I want with the extra money.'

All savings and current accounts customers, including children's savings accounts customers, were given the opportunity to win a total of $360,000 cash prizes at the OCBC Happy Savings Draw. This includes the top prize of $200,000 cash.

To qualify for the draw, customers only needed to maintain a minimum monthly average balance of S$1,000 in their OCBC Singapore-dollar personal savings or current accounts between February 1 and July 31 this year.

During the six-month draw period, a total of $360,000 was won by 46 customers with cash prizes ranging from S$1,000 to S$200,000. In addition, customers earned Extra Interest of 0.80% for 38 days on eligible balances.

On customers' response to the promotion, Mr Lim Wyson, Head of Wealth Management Singapore, OCBC Bank said, 'From our dialogue with customers, we understand that they really appreciated having the chance to participate in the OCBC Happy Savings Draw to win cash; they feel that is an added incentive to continue saving.'

He added, 'It is also timely as the Draw took place when everyone needs a little boost in spirit given the current economic climate. With more consumers focused on going back to the basics, we felt that cash prizes would be the most appropriate as they will give our customers greater financial freedom.'