ocbc 360 account

[Trazora]

3% x 70k= 2100 a yr, 175 a mnth!

Sent from Sony E6853 using GAGT

Not many people have the investment/insurance component. Like that may as well go for bonus$aver

 

[skaarf]

Got it today too. Closed the account over lunch time. Another 10more days and I will terminate the credit catd

Too bad for me, just opened this account in Feb.

 

[Trazora]

would clinching
1. salary credit
2. 3 x payment at least $150 in total
3. CC spend $500
still lose out to bonus$aver?

For this set of requirements

Ocbc 360: 1.2%+0.3%+0.3%+0.05% =1.85% for up to $70
Bonus$aver: 1%+0.25%+0.88% =2.13% for up to $100k but no cc rebate
Boc smartsaver: 0.8% or 1.2%+0.35%+0.8%+0.4% =2.35% or 2.75% up to $60k
Uob one: 2.43% for $50k
Maybank saveup: 2.97% for up to $50k (min $300 giro instead of 3× bill payment)

Ocbc not so good compared to others

 

[tiertime]

For this set of requirements

Ocbc 360: 1.2%+0.3%+0.3%+0.05% =1.85% for up to $70
Bonus$aver: 1%+0.25%+0.88% =2.13% for up to $100k but no cc rebate
Boc smartsaver: 0.8% or 1.2%+0.35%+0.8%+0.4% =2.35% or 2.75% up to $60k
Uob one: 2.43% for $50k
Maybank saveup: 2.97% for up to $50k (min $300 giro instead of 3× bill payment)

Ocbc not so good compared to others

I chose UOB even though its only for 50K coz i think their Credit card allows payment for bills...

BOC and Maybank dun allow, OCBC and Bonus saver i not too sure... can anyone verify this

 

[Larcenciel1981]

I chose UOB even though its only for 50K coz i think their Credit card allows payment for bills...

BOC and Maybank dun allow, OCBC and Bonus saver i not too sure... can anyone verify this

can i ask what kinda bills you referring here? so far i can only think of starhub and singtel bills payment via their individual online payment services.

for sure ocbc doesn't allow me to pay my other credit card bills via their ocbc credit card. you mean UOB allows me to do this?

 

[a4973]

I chose UOB even though its only for 50K coz i think their Credit card allows payment for bills...

BOC and Maybank dun allow, OCBC and Bonus saver i not too sure... can anyone verify this

hi thanks for updating
able to advise if can pay using the uob credit card for the following :

1. sg power
2. town council s & C
3 aia insurance
4. top up ezlink fare cards

 

[a4973]

can i ask what kinda bills you referring here? so far i can only think of starhub and singtel bills payment via their individual online payment services.

for sure ocbc doesn't allow me to pay my other credit card bills via their ocbc credit card. you mean UOB allows me to do this?

so far for me, ocbc cc spend is the easiest for me to hit as i use the MC to pay at https://e-station.axs.com.sg/AXSOnline/core_adhoc/information.php
i have been paying for SG power, town council s & c, aia premiums

 

[tiertime]

hi thanks for updating
able to advise if can pay using the uob credit card for the following :
1. sg power
2. town council s & C
3 aia insurance
4. top up ezlink fare cards

can i ask what kinda bills you referring here? so far i can only think of starhub and singtel bills payment via their individual online payment services.

for sure ocbc doesn't allow me to pay my other credit card bills via their ocbc credit card. you mean UOB allows me to do this?

i called the UOB hotline, the CSO told me can leh... but i havnt tried yet, i just opened the account 2 weeks ago nia.

Payment by credit card to another credit card not possible for most banks... UOB cc confirm cannot pay to other bank's cc, i asked them liao.

 

[tiertime]

so far for me, ocbc cc spend is the easiest for me to hit as i use the MC to pay at https://e-station.axs.com.sg/AXSOnline/core_adhoc/information.php
i have been paying for SG power, town council s & c, aia premiums

i had been using OCBC to pay for my insurance, but i stopped using their card once they decreased the bonus interest to 0.3%.

Last month i made advance payment of my insurence for whole year to get the 0.5% bonus interest. this month onwards can keep the card in drawer liao.

 

[saffronsatire]

wonder if most ppl switched to uob, nowadays their ATMs appear to have a higher frequency of usage.

 

[Larcenciel1981]

wonder if most ppl switched to uob, nowadays their ATMs appear to have a higher frequency of usage.

personally i have changed my credit card usage to UOB One/One card from this mth onwards.

the revision of the credit card spending bonus from OCBC has made it so unattractive that it became a no brainer for me to swop over to UOB.

that being said, i still have the 360 account though. but given the track records of OCBC, another downwards revision of their 360 package will probably force me to drop the whole account completely.

 

[a4973]

i had been using OCBC to pay for my insurance, but i stopped using their card once they decreased the bonus interest to 0.3%.

Last month i made advance payment of my insurence for whole year to get the 0.5% bonus interest. this month onwards can keep the card in drawer liao.

have you found out if other bank's cc can pay insurance premiums?
if not then i personally think its counter productive to pay using GIRO for what could be paid using ocbc MC even though the cc spend bonus drop to 0.3%
but the moment ocbc closes the gap of allowing MC over axs payments i am going to swop as well.

 

[tiertime]

have you found out if other bank's cc can pay insurance premiums?
if not then i personally think its counter productive to pay using GIRO for what could be paid using ocbc MC even though the cc spend bonus drop to 0.3%
but the moment ocbc closes the gap of allowing MC over axs payments i am going to swop as well.

no i didnt coz i have already overpaid my premiums.. what is "MC"?

 

[Trazora]

no i didnt coz i have already overpaid my premiums.. what is "MC"?

Mastercard

 

[sg_investor]

How many months do I get this Save Bonus?

I moved some cash into OCBC 360 last month and I saw a Save Bonus in my account this week.
If I dont move in/out any funds from this account from now on, how many months do I get this Save Bonus?

 

[Trazora]

How many months do I get this Save Bonus?

I moved some cash into OCBC 360 last month and I saw a Save Bonus in my account this week.
If I dont move in/out any funds from this account from now on, how many months do I get this Save Bonus?

From Apr onwards only funds above $70k average daily balance gets Save Bonus.

 

[sg_investor]

From Apr onwards only funds above $70k average daily balance gets Save Bonus.

Thank you Trazora for the reply.

Does that mean the sum i transferred in last month only gets a 0.5%/12?
Without considering the change of interest in Apr, do the "Save Bonus" in other banks operate the same way by putting a x% headline interst rate, but paying only that rate for the next month? i.e. x%/12 effectively?

 

[Trazora]

Thank you Trazora for the reply.

Does that mean the sum i transferred in last month only gets a 0.5%/12?
Without considering the change of interest in Apr, do the "Save Bonus" in other banks operate the same way by putting a x% headline interst rate, but paying only that rate for the next month? i.e. x%/12 effectively?

Fyi ocbc 360 changed the bonus interest scheme from apr onwards. Concept of fresh funds no longer relevant.

The concept of fresh fund and save bonus is very different to different savings account. Eg scb esaver consider fresh funds as the increase in the average daily balance in the 2 promotional months as compared to the average daily balance month before the promo starts.
Boc gives save bonus for savings above 60k average daily balance (regardless fresh fund or not) if at least one of the other bonus interest is earned.

 

[Larcenciel1981]

How many months do I get this Save Bonus?

I moved some cash into OCBC 360 last month and I saw a Save Bonus in my account this week.
If I dont move in/out any funds from this account from now on, how many months do I get this Save Bonus?

before April 2017, the SAVE bonus effects on the INCREMENT of average daily balance from the previous month average balance. IE to say if your FEB2017 average daily balance is 60k, whereas MAR2017 average daily balance is 10k, your SAVE bonus credited to you in APR2017 is (1/100)/12 x 10000 = 8.33sgd.

but OCBC has since revised this to become invalid. too many pple have glitched this SAVING bonus that OCBC has decided to 'destroy' it.

From Apr onwards only funds above $70k average daily balance gets Save Bonus.

from what i read from the OCBC 360 account, it appears that what you typed is abit off key. the current SAVE bonus quoting from the official website is this:

"Earn this extra bonus on the first S$70,000 if your account balance is S$200,000 and above. Your account's average daily balance for the month must be S$200,000 and above."

so i understand it that IF i have 200k and don't touch it for the whole mth in my 360 account, i'll get (1/100)/12 x 70000 = 58sgd every mth.

this is like a Fix Deposit kinda concept. but i duno who the heck will wanna lock in 200K with OCBC 360 just to capture this 1% PA interest which only predicates the first 70k. if i have 200k, it should be predicated off the FULL 200k since they wanna 'lock in' this amount.

to me it's JUST STUPID. there are alot of better ways to get MORE than 1% PA interest.

 

[sg_investor]

Maybe thats why i moved funds from scb current account to a newly opened esaver but not getting interest. I was negligent at reading small prints i guess.

Fyi ocbc 360 changed the bonus interest scheme from apr onwards. Concept of fresh funds no longer relevant.

The concept of fresh fund and save bonus is very different to different savings account. Eg scb esaver consider fresh funds as the increase in the average daily balance in the 2 promotional months as compared to the average daily balance month before the promo starts.
Boc gives save bonus for savings above 60k average daily balance (regardless fresh fund or not) if at least one of the other bonus interest is earned.