New OCBC 360 (Effective May 1 2015)

Jazzbie

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So best approach is to FAST $10k into OCBC 360 tmr?

So that May's total interest will be:

2.25% on $60k and 1.05% on $10k

And following on just leave it as it is for:

2.25% on $60k
 

icicic

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Move excess to scb e saver to reset adb. Promo rate till end may.
And cashier order is old fashioned, time consuming but perfectly legit and cheap way of sidestep transfer limit :)
 

Trazora

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Well if the limit is 10k per day. Then just transfer 10k for 5 days for total 50k
 

Trazora

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Sensitive wor. Anyway so long the april average daily balance is low and the may average daily balance is within 60k I dun see why not transfer in
 

Whisper

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I think transfer in is correct. bonus interest given for incremental balance in May over that in Apr.

Yup..that's what I'm thinking..took me some time to understand the cheat code.. :s13:
 

wackykid

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i self corrected myself in an earlier page. but still, beyond 60k, your incremental balance only get 1%, not 4.25%. i tried that using the ocbc 360 calculator. so if only 1% or 1.05%, what is the point?

this... i have nothing to argue against... afterall if someone really has $1mil of liquid cash flowing around... he/she most likely would put this to some other better investments rather than put in bank... :s13:


regards,
wacky
 

athletic91

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I think if you have 60k or less, don't bother play with the incremental 1%

if lets say u got 100k, then

april 60k

TRANSFER IN 40K
may 100k (1%on 40k)

TRANSFER OUT 40K
june 60k (40k park elsewhere(wife ocbc360 acct? )

TRANSFER BACK 40K
july 100k (1%on 40k)
and so on.....

correct me if any flaws in this method

And if your wife/hubby also has a 360 acct and play the ding- dong method alternate months for incremental interest
 
Last edited:

Jazzbie

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I think if you have 60k or less, don't bother play with the incremental 1%

if lets say u got 100k, then

april 60k

TRANSFER IN 40K
may 100k (1%on 40k)

TRANSFER OUT 40K
june 60k (40k park elsewhere )

TRANSFER BACK 40K
july 100k (1%on 40k)
and so on.....

correct me if any flaws in this method

The only and most critical flaw is that you can easily get more than 1% interest elsewhere. Not sure why anyone would want to do all that work.

The "trick" method is to transfer all the $60k in between 2 salary credited 360 account to get 3.25% on $60k every month.
 

K|muRa^84

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I think if you have 60k or less, don't bother play with the incremental 1%

if lets say u got 100k, then

april 60k

TRANSFER IN 40K
may 100k (1%on 40k)

TRANSFER OUT 40K
june 60k (40k park elsewhere )

TRANSFER BACK 40K
july 100k (1%on 40k)
and so on.....

correct me if any flaws in this method

this is what i plan to do

1% is still higher than cimb's 0.8%
 

iMac

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Anyone can tell me if I one person can open two 360 account?
 

oceanicmanta

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Assuming those with OCBC360 have $50K ADB for month of Apr.
So, just for the month of May only, its sensible to top up $10k. This $10k effectively earns 3.25% (1.2% salary + 0.5% spend + 0.5% bills + 1% incremental + 0.05% base).
Isn't that correct ?
 

Jazzbie

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Assuming those with OCBC360 have $50K ADB for month of Apr.
So, just for the month of May only, its sensible to top up $10k. This $10k effectively earns 3.25% (1.2% salary + 0.5% spend + 0.5% bills + 1% incremental + 0.05% base).
Isn't that correct ?

Yes, that is what I reckon too and will hence FAST $10k to top up to $60k tmr (1 May).
 

Trazora

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Assuming those with OCBC360 have $50K ADB for month of Apr.
So, just for the month of May only, its sensible to top up $10k. This $10k effectively earns 3.25% (1.2% salary + 0.5% spend + 0.5% bills + 1% incremental + 0.05% base).
Isn't that correct ?

Yes, this is correct. The question then is what to do in Jun, whether to transfer out some money to lower Jun ADB to get incremental ADB in Jul. If so where to transfer the money to
 

iMac

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Yes, this is correct. The question then is what to do in Jun, whether to transfer out some money to lower Jun ADB to get incremental ADB in Jul. If so where to transfer the money to

If you got problem with that...I can help you...just transfer to my account.:D PM you my account number..:s13:

Juz joking....
 

Jazzbie

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Yes, this is correct. The question then is what to do in Jun, whether to transfer out some money to lower Jun ADB to get incremental ADB in Jul. If so where to transfer the money to

I will just keep $60k inside perpetually. I believe you should only transfer out if you can get more than 2.25% elsewhere.

The only other alternative savings account for more than 2.25% is UOB One account at 2.43% for $50k deposit. But UOB One account is a tad tedious to set up cos of the GIRO re-arrangements.
 
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