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Old 07-04-2014, 04:50 PM   #61
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lol.

marketing gimmick.

u guys dont see it, do u?
Yup, OCBC may be using this 360 promo to gather more deposits as well as increase customer credit card spending. Call it marketing gimmick for all I care, as long as I received $127 monthly interests (or yearly interests of $1525), I will be happy to put my money there. Where else can you get effective 3.05%pa interests for a normal saving account and current FD rates not even exceeding 1.5%pa.
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Old 07-04-2014, 06:43 PM   #62
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Yup, OCBC may be using this 360 promo to gather more deposits as well as increase customer credit card spending. Call it marketing gimmick for all I care, as long as I received $127 monthly interests (or yearly interests of $1525), I will be happy to put my money there. Where else can you get effective 3.05%pa interests for a normal saving account and current FD rates not even exceeding 1.5%pa.
I think the real question is how long will the promotion last? They clearly have the right to revise the promotional interest rate at any time...so just enjoy it now while it lasts.
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Old 07-04-2014, 07:08 PM   #63
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Yup, OCBC may be using this 360 promo to gather more deposits as well as increase customer credit card spending. Call it marketing gimmick for all I care, as long as I received $127 monthly interests (or yearly interests of $1525), I will be happy to put my money there. Where else can you get effective 3.05%pa interests for a normal saving account and current FD rates not even exceeding 1.5%pa.
I think the real question is how long will the promotion last? They clearly have the right to revise the promotional interest rate at any time...so just enjoy it now while it lasts.
exactly.

have you considered the probability of a normal account, one which u can suka suka take money in and out, have a higher interest rate than fd? A fd would also require a minimum of $20k to be entitled to the promo rates (~1%).

think think think.

what is the true objective of ocbc here?
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Old 07-04-2014, 08:35 PM   #64
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Singapore

Might be raising quick funds to purchase wing hang bank?
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Old 07-04-2014, 09:33 PM   #65
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Hi MrCoconut, beri stupid idiot, EEXOOO

This is not an issue, because all the banks have different transaction descriptions for salaries received via Giro.

For DBS, its SAL
For POSB, its PAY
For OCBC, its Giro - Salary


^Greg
For OCBC Bank
What about UOB? is this considered as GIRO?

INWARD CR - IBG
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Old 07-04-2014, 11:11 PM   #66
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I m in dilemma on which to choose...bonus saver or ocbc 360..ocbc 360 is a bit hassle than bonus saver...need to change bank salary credited,pay 3 bills n use credit card $400 for retail transaction whereas bonus saver oni need to spend 500 using their cards..
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Old 07-04-2014, 11:48 PM   #67
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I m in dilemma on which to choose...bonus saver or ocbc 360..ocbc 360 is a bit hassle than bonus saver...need to change bank salary credited,pay 3 bills n use credit card $400 for retail transaction whereas bonus saver oni need to spend 500 using their cards..
OCBC
Change salary credit account - 1 time hassle
pay 3 bills - no hassle, you pay those bills anyway
spend 400 - that's $100 less than SCB 1.88%. And you get to earn your existing points/rebates from that $400 spent.

SCB Bonus Saver
Spend $500 - no rebates/points for those $500 spent

Just doing item 1-2 from OCBC yields 2.05% compared to 1.88% at SCB.

Gimmick or not, who cares? Underlying motive, who cares? There's no lock in period. As long as the promo ends, we are free to move our funds again.

Enjoy it while it last. While you continue doubting this and that, we would continue earning our interests?
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Old 08-04-2014, 12:24 AM   #68
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As long as the promo ends, we are free to move our funds again.
think again and u will realize ocbc's underlying motive.
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Old 08-04-2014, 04:44 AM   #69
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think again and u will realize ocbc's underlying motive.
As long as it is not to take your money and run, why worry?
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Old 08-04-2014, 08:49 AM   #70
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think again and u will realize ocbc's underlying motive.
As long as there is no lock in clause we are free to move e funds and change our spending patterns anytime in light of any interest revisions..u sound like sour grapes who can't fulfill e 3% mark..n I already have my 50k up n ready
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Old 08-04-2014, 08:52 AM   #71
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For my 3x GIRO Bill Payment (e.g. M1 Bill, S'pore Power Bill, Veh. Installment Giro) already exceed S$400 per month....

do I still need to spend another $400 using the credit card to earn the 3.05%?
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Old 08-04-2014, 08:56 AM   #72
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For my 3x GIRO Bill Payment (e.g. M1 Bill, S'pore Power Bill, Veh. Installment Giro) already exceed S$400 per month....

do I still need to spend another $400 using the credit card to earn the 3.05%?

your 3 GIRO is payment direct from credit card or bank account?

Last edited by naro; 08-04-2014 at 09:03 AM..
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Old 08-04-2014, 09:04 AM   #73
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As long as there is no lock in clause we are free to move e funds and change our spending patterns anytime in light of any interest revisions..u sound like sour grapes who can't fulfill e 3% mark..n I already have my 50k up n ready
cant agree more.
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Old 08-04-2014, 09:16 AM   #74
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your 3 GIRO is payment direct from credit card or bank account?
For the veh instalment, I have to go to the Finance Company to pay using the OCBC credit card...I also have Great Eastern Life Insurance which I can pay with credit card...
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Old 08-04-2014, 09:17 AM   #75
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think again and u will realize ocbc's underlying motive.
Seriously, you're sounding like a broken record already. Why don't you just state your reasoning?

Don't tell me you're working for a rival bank and just want to sow doubt

To me it's quite clear that if OCBC pulls a stunt here by changing the TnC within the next few months they will lose a lot of customers and damage their brand.
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