New OCBC 360 (Effective May 1 2015)

Trazora

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Of course it is not going to be $150/day interest with 360 account.
But it was $150/day interest with DBS 1.88%, capped at $1m.

The illustration is merely to compare $5.34 daily interest with 360 vs $150 daily interest elsewhere. The pondering and bothering over meagre daily interest is not worth it.

Sorry ah. No pun intended :)

Anyway I don't think FAST allow transfer of $1M
 

naro

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Yes, my mistake. $51.51/day.
Any FAST is crucial.
Even so, I don't think it even make sense to compare $60k @ 3.25% and $1mil @ 1.88%. It is not an apple to apple comparison.

With $1mil, there are many other alternatives and RMs are more than willing to offer leveraged products to multiply returns.
 

edwinttt1978

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Even so, I don't think it even make sense to compare $60k @ 3.25% and $1mil @ 1.88%. It is not an apple to apple comparison.

With $1mil, there are many other alternatives and RMs are more than willing to offer leveraged products to multiply returns.

This is to compare how being slow in FAST by a day could lead to losses that could amount to many sets of Filet O Fish meals. The actual losses of Filet O Fish meal, or a fraction of it, depends on how much cash is at bank.
 

Trazora

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This is to compare how being slow in FAST by a day could lead to losses that could amount to many sets of Filet O Fish meals. The actual losses of Filet O Fish meal, or a fraction of it, depends on how much cash is at bank.

So can we conclude we just need to FAST earlier in the day?
 

ikilledbarbie

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So for incremental if I Every month topup 1k, I will get 1%/12 on that 1k right? Let's say I do that for a year.

Then on the first month of the next year I withdraw my $12k and leave the balance in there.

On the second month, I do the depositing again. Is it counted? (Since it is incremental as compared to the previous month)

Or will they forever cap it at the highest balance I have ever had during the lifespan of my account. And "incremental" is only incremental if it's more than that.

Is this a stupid qns. If yes, sorry hahaha.
 
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Trazora

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So for incremental if I Every month topup 1k, I will get 1%/12 on that 1k right? Let's say I do that for a year.

Then on the first month of the next year I withdraw my $12k and leave the balance in there.

On the second month, I do the depositing again. Is it counted? (Since it is incremental as compared to the previous month)

Or will they forever cap it at the highest balance I have ever had during the lifespan of my account. And "incremental" is only incremental if it's more than that.

Is this a stupid qns. If yes, sorry hahaha.

incremental is as compared to the month before, so if you withdraw $12k in first month and deposit back in second month. The incremental in the 2nd month will be 12k. The tougher question is what u do with the 12k that u draw from the account during the first month... You can look through this thread for some ideas
 

zoossh

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So for incremental if I Every month topup 1k, I will get 1%/12 on that 1k right? Let's say I do that for a year.

Then on the first month of the next year I withdraw my $12k and leave the balance in there.

On the second month, I do the depositing again. Is it counted? (Since it is incremental as compared to the previous month)

Or will they forever cap it at the highest balance I have ever had during the lifespan of my account. And "incremental" is only incremental if it's more than that.

Is this a stupid qns. If yes, sorry hahaha.

not every "incremental" means the same thing in each bank. this is where banks cant use simple and straightforward language.

for ocbc 360, uob one and hya, with reference to the previous month of that account. if i am not wrong, hya had fresh fund requirement, ocbc 360 no. uob one cant remember.

for ocbc bonus plus, there is penalty on withdrawal within calender quarter of that account. had fresh fund requirement.

for maybank isavings and scb esaver, with reference to the one month of that account before that periodic 2-3 months promotion. whether or not it is affected by other accounts under your name, that one i am not entirely sure. and whether a joint account will affect both the principal and second person's other accounts, i am also not sure. any kind soul can tell me?

for maybank isavings plus, with reference to the one month before that promotion, and every month must be higher than previous month, with interest given every 6 months block, excluding the month where account is opened.
 

ikilledbarbie

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incremental is as compared to the month before, so if you withdraw $12k in first month and deposit back in second month. The incremental in the 2nd month will be 12k. The tougher question is what u do with the 12k that u draw from the account during the first month... You can look through this thread for some ideas

So ideally i can find a partner where we alternate between depositing and withdrawing to make use of this grey area
 

edwinttt1978

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not every "incremental" means the same thing in each bank. this is where banks cant use simple and straightforward language.

for ocbc 360, uob one and hya, with reference to the previous month of that account. if i am not wrong, hya had fresh fund requirement, ocbc 360 no. uob one cant remember.

for ocbc bonus plus, there is penalty on withdrawal within calender quarter of that account. had fresh fund requirement.

for maybank isavings and scb esaver, with reference to the one month of that account before that periodic 2-3 months promotion. whether or not it is affected by other accounts under your name, that one i am not entirely sure. and whether a joint account will affect both the principal and second person's other accounts, i am also not sure. any kind soul can tell me?

for maybank isavings plus, with reference to the one month before that promotion, and every month must be higher than previous month, with interest given every 6 months block, excluding the month where account is opened.
If "incremental" is not simple and straight forward, what is?
 

ikilledbarbie

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not every "incremental" means the same thing in each bank. this is where banks cant use simple and straightforward language.

for ocbc 360, uob one and hya, with reference to the previous month of that account. if i am not wrong, hya had fresh fund requirement, ocbc 360 no. uob one cant remember.

for ocbc bonus plus, there is penalty on withdrawal within calender quarter of that account. had fresh fund requirement.

for maybank isavings and scb esaver, with reference to the one month of that account before that periodic 2-3 months promotion. whether or not it is affected by other accounts under your name, that one i am not entirely sure. and whether a joint account will affect both the principal and second person's other accounts, i am also not sure. any kind soul can tell me?

for maybank isavings plus, with reference to the one month before that promotion, and every month must be higher than previous month, with interest given every 6 months block, excluding the month where account is opened.

Yes I agree hahaha need to find an ocbc staff to explain
 

zoossh

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If "incremental" is not simple and straight forward, what is?

the reference point is not simple and straightforward.

breakup a complex sentence to a few simple short sentences. cover opposite situations (if A, so and so. add in "if not A, so and so".). move "redundant cover-backside but useless" clauses to another page, and move the essences of what is needed to know into one area.
 
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