|OCBC 360 Account - Product Summary|
Base Interest Rate: 0.05% per annum
Max Interest Rate: Up to 4.40% per annum*
Fall below fees: $2 per month (First Year Waived)
Good for: Salary credit of $2,000 per month through GIRO and the first $35,000 earns 1.2% while the next $35,000 earns 2%
Minimum Initial Deposit: $1,000
Table of Content
1. Why should you choose the OCBC 360 Account?
With the introduction of new categories and higher bonus interest, account holders can now take advantage of a two-tier bonus interest based on your account balance (Tier 1: $35,000, Tier 2: $35,001 to $70,000). OCBC 360 Account continues to offer generous bonus interest with an additional 1% per annum on your first $70,000 if your account balance is at least $200,000. Earn another 1% per annum on the incremental increase in your account balance, capped at $1 million. Despite the removal of the Payment bonus interest of 0.3% per annum, the pros outweigh the cons, especially with the new categories and higher bonus interest, which are permanent features rather than promotional offers.
|Requirement||First $35,000||Next S$35,000|
|Salary: Credit Salary of at least S$2,000 through GIRO||1.2%||2.0%|
|Spend: Spend at least S$500 on OCBC Credit Cards||0.3%||0.6%|
|Step Up: Increase your account balance by S$500 compared to the previous month||0.3%||0.6%|
|Wealth: Insure or invest with OCBC and earn bonus interest for 12 months||0.6%||1.2%|
|Grow: Extra bonus if your account balance is at least S$200,000||1.0%||1.0%|
|Boost: Increase your account balance from the previous month's balance (up to S$1m)||1.0%||1.0%|
|Prevailing Interest Rate||0.05%||0.05%|
Key Benefit #1Credit your monthly salary of at least $2,000 into the OCBC 360 Account and earn 1.2% per annum for account balance of $35,000 and 2% per annum for account balance between $35,001 to $70,000.
Key Benefit #2Purchase any new eligible financial product from OCBC and earn 0.6% per annum for account balance of $35,000 and 1.2% per annum for account balance between $35,001 to $70,000.
Key Benefit #3Earn an additional bonus interest of 1% on the incremental balance (difference between the average daily balance in the current month and the previous month) in your account balance, capped at $1 million. For example, if your average daily balance increased to $80,000 in the current month from $70,000 in the previous month then you will earn an additional bonus interest of 1% on the incremental balance of $10,000.
What Charges or Fees should you look out for?
|Minimum Initial Deposit:||NIL|
|Minimum Balance Fee:||$2|
|Early Account Closure Fee:||$30 (within 6 months of opening)|
How to apply?
Here is what you will need during the application process:
- Front and back of NRIC/Passport/Employment Pass
- Additional Documents (any of the following)
- Phone Bill
- Half-yearly CPF statement
- Any bank statement