ocbc 360 account

[nasilemak100]

received my final save and incremental bonus this morning

transferred everything out except 3k left to avoid fall below fees.

bb ocbc

 

[chopra]

you mean cannot minus?

Ya……

 

[fr33d0m]

I think only DBS will do negative balance

UOB, too

 

[SantyBalls]

I forgot xfer last mth. When i found out my adb is 150k. That xtra 50k adb no interest. This mth xfer to 2 maribank earn 1.88% daily interest better

 

[sglandscape]

I forgot xfer last mth. When i found out my adb is 150k. That xtra 50k adb no interest. This mth xfer to 2 maribank earn 1.88% daily interest better

They're cutting their rates next month, but I feel best to still keep money with them because don't need to remember to do anything and the rate is guaranteed.

The OCBC 360 if forget to clock the 500 save each month, confirm would be worse off.

 

[SantyBalls]

They're cutting their rates next month, but I feel best to still keep money with them because don't need to remember to do anything and the rate is guaranteed.

The OCBC 360 if forget to clock the 500 save each month, confirm would be worse off.

i made a spreadsheet for my family liao. last time very fedup need to ask them for the variables then all of them keep forgetting to auto gimme.
now got spreadsheet they ownself enter the values it tell them exactly how much to xfer in/out on any day. but all of us forgot until last few days of the mth then i need -70k to just nice hit the save adb. empty acct also no use lol. now kena 150k adb. 50k no interest, might as well put in 1.88% mari.

now like everywehere cut interest lol

 

[koolkool]

Curious, which UT from OCBC did you choose?

I bought this:
LionGlobal Singapore Fixed Income Investment Class A

Look out for promo for sales charge to cushion the amount need to plough back. Last month I used a promo code that gives me 0.44% sales charge.

 

[epsqps]

I bought this:
LionGlobal Singapore Fixed Income Investment Class A

Look out for promo for sales charge to cushion the amount need to plough back. Last month I used a promo code that gives me 0.44% sales charge.

Woah, given the initial 3% charge (from the fund) and 0.44% sales charge (from OCBC), the fund needs to increase its NAV by 3.55% (1.0044 / 0.97 - 1) to breakeven. This means the fund's monthly return (when converted to a monthly figure) is even higher than that given your holding period. Very impressive for the fund - I assume the IRs must have declined by quite a bit.

I'm looking for something with a lower initial charge to lower the breakeven, and it seems the index funds (Infinity Series) are the only ones (2% charge from the fund i.e. 2.49% to breakeven). However, they only have it for equity asset class, which entails more risk.

 

[koolkool]

Woah, given the initial 3% charge (from the fund) and 0.44% sales charge (from OCBC), the fund needs to increase its NAV by 3.55% (1.0044 / 0.97 - 1) to breakeven. This means the fund's monthly return (when converted to a monthly figure) is even higher than that given your holding period. Very impressive for the fund - I assume the IRs must have declined by quite a bit.

I'm looking for something with a lower initial charge to lower the breakeven, and it seems the index funds (Infinity Series) are the only ones (2% charge from the fund i.e. 2.49% to breakeven). However, they only have it for equity asset class, which entails more risk.

I am not sure what is the 3% initial charge from the fund you mentioned but I tracked back the transaction I made last month. Transaction date is 2 July and I got 10189.19 units for $20100. From the price, I think OCBC took my $20100, take away 0.44% and convert to the units by using 3 July price of $1.964. I just periodically login to the app, check if it turn green, and wait for it to consistently green for consecutive 5 days then I sell ( just to be sure the final selling price will still be positive returns as we will not know the final price when sold for UT). This took close to 4 weeks to hit consecutive 5 days green. If you want to be very strict, in my opinion you should consider also the opportunity cost of the $20k during this period because at the most relaxed opportunity cost, we are losing interest from a HYSA for that period. I managed to clock in a $44 profit so it is close to this opportunity cost. But I will be equally happy with any small profit given I can get more interest for the next 12 months.

Just take note this UT is not always up in straight line like the MMF. So there is risk involving SGD bonds, which is what this UT is investing. Just that the trend is generally up for a good period now which is why I chose this. If u believe interest rates are going to drop further this is a no brainer in my opinion. Please do your own due diligence. Hope this helps.

 

[epsqps]

I am not sure what is the 3% initial charge from the fund you mentioned but I tracked back the transaction I made last month. Transaction date is 2 July and I got 10189.19 units for $20100. From the price, I think OCBC took my $20100, take away 0.44% and convert to the units by using 3 July price of $1.964. I just periodically login to the app, check if it turn green, and wait for it to consistently green for consecutive 5 days then I sell ( just to be sure the final selling price will still be positive returns as we will not know the final price when sold for UT). This took close to 4 weeks to hit consecutive 5 days green. If you want to be very strict, in my opinion you should consider also the opportunity cost of the $20k during this period because at the most relaxed opportunity cost, we are losing interest from a HYSA for that period. I managed to clock in a $44 profit so it is close to this opportunity cost. But I will be equally happy with any small profit given I can get more interest for the next 12 months.

Just take note this UT is not always up in straight line like the MMF. So there is risk involving SGD bonds, which is what this UT is investing. Just that the trend is generally up for a good period now which is why I chose this. If u believe interest rates are going to drop further this is a no brainer in my opinion. Please do your own due diligence. Hope this helps.

The 3% comes from the prospectus of the fund - https://(secure.fundsupermart.com/fsm/admin/buy/factsheet/factsheetOCSGFI.pdf) - this is the front-end charge from the fund itself, and the highest I've seen is 5% depending on fund house and asset type.

What this means is 3% from your initial amount will be paid to the fund manager and the remaining 97% will be used to buy units from the fund. Hence for an initial investment of $20,000, you'd need to pay 20,000 + 0.44% x 20,000 = 1.0044 x 20,000 and the value you get is (100% - 3%) x 20,000 = 0.97 x 20,000.

Hence to breakeven (I'm ignoring opportunity costs here and I'm fine to do so because the additional income from the invest bonus from the OCBC 360 account for 12 months needs to be included if I want to be even stricter. Plus, I don't want to go through the additional math involved to account for the TVM), would be 1.0044 x 20,000 / (0.97 x 20,000) - 1 = 3.55%.

And yes I'm aware of the (duration) risks involved - mentioned in my posts that the SG interest rates (IR) must have fallen by quite a bit for the NAV to increase by so much over such a short holding period.

 

[royalmix]

Thanks for your reply!

Made my account $0 on 29 June about 11pm. Fall below fee of $2 has value date 29 June and transaction date 30 June, making my account negative $2.

I think only DBS will do negative balance

OCBC 360 also can go -ve, see above!

 

[koolkool]

The 3% comes from the prospectus of the fund - https://(secure.fundsupermart.com/fsm/admin/buy/factsheet/factsheetOCSGFI.pdf) - this is the front-end charge from the fund itself, and the highest I've seen is 5% depending on fund house and asset type.

What this means is 3% from your initial amount will be paid to the fund manager and the remaining 97% will be used to buy units from the fund. Hence for an initial investment of $20,000, you'd need to pay 20,000 + 0.44% x 20,000 = 1.0044 x 20,000 and the value you get is (100% - 3%) x 20,000 = 0.97 x 20,000.

Hence to breakeven (I'm ignoring opportunity costs here and I'm fine to do so because the additional income from the invest bonus from the OCBC 360 account for 12 months needs to be included if I want to be even stricter. Plus, I don't want to go through the additional math involved to account for the TVM), would be 1.0044 x 20,000 / (0.97 x 20,000) - 1 = 3.55%.

And yes I'm aware of the (duration) risks involved - mentioned in my posts that the SG interest rates (IR) must have fallen by quite a bit for the NAV to increase by so much over such a short holding period.

Hi. I see. I think there is no 3% deducted from the amount I invested from my experience last month. It's just the sales charge from ocbc. Just need to try get back the sales charge of 0.44% (if under promo) or 0.88% (without promo). My guess is the prospectus is created many years ago, when UT initial charges are rather exorbitant. Nowadays the sales charge are better priced and earnings from management fees and sheer volume made up for the lower sales charges. Anyway, I am not an expert in UT as I don't really invest properly in unit trusts but rather I bought ETFs instead. But I guess they are pretty much similar, just how much 'intervention' from fund management to justify the higher expense ratio. Hahaha....

 

[compro_1975]

received my final save and incremental bonus this morning

transferred everything out except 3k left to avoid fall below fees.

bb ocbc

where u move to? seems ocbc still ok among all leh

 

[epsqps]

Hi. I see. I think there is no 3% deducted from the amount I invested from my experience last month. It's just the sales charge from ocbc. Just need to try get back the sales charge of 0.44% (if under promo) or 0.88% (without promo). My guess is the prospectus is created many years ago, when UT initial charges are rather exorbitant. Nowadays the sales charge are better priced and earnings from management fees and sheer volume made up for the lower sales charges. Anyway, I am not an expert in UT as I don't really invest properly in unit trusts but rather I bought ETFs instead. But I guess they are pretty much similar, just how much 'intervention' from fund management to justify the higher expense ratio. Hahaha....

Wow, that's great to know. I was worried about using the bond fund to replicate what you did because a 3% sales charge seems hefty given their expected returns.

Now that worry is gone, I have less inhibitions. Thanks for sharing your experience!

 

[ahchan]

Hi, I have problem this month to meet the $500 spending for ocbc365 card.
Paid for my car insurance but was told later that the MCC code is not eligible for both the card quarterly rebate and ocbc360 $500 spending.

Wondering if paying road tax using ocbc365 will be eligible at least for the $500 spending ?
Anyone has advise ? or any suggestion how to at least meet the $500 spending ?

 

[Claylite]

Hi, I have problem this month to meet the $500 spending for ocbc365 card.
Paid for my car insurance but was told later that the MCC code is not eligible for both the card quarterly rebate and ocbc360 $500 spending.

Wondering if paying road tax using ocbc365 will be eligible at least for the $500 spending ?
Anyone has advise ? or any suggestion how to at least meet the $500 spending ?

According to this very old (Link: 2015 Post) reply from OCBC road tax isn’t counted. But I couldn’t verify what MCC it falls under and if it’s under the exclusions in the current Tncs.

 

[ahchan]

According to this very old (Link: 2015 Post) reply from OCBC road tax isn’t counted. But I couldn’t verify what MCC it falls under and if it’s under the exclusions in the current Tncs.

Thanks for the info.

I just checked from previous payment.
Road tax is having 9399 as MCC code and it is excluded in most credit card rebate program, OCBC inclusive.

Thanks.

 

[Cumzilla]

Thanks for the info.

I just checked from previous payment.
Road tax is having 9399 as MCC code and it is excluded in most credit card rebate program, OCBC inclusive.

Thanks.

Just take note that any payment to do with govt all definitely not counted, this includes safra and hometeam...

 

[koolkool]

I received my 1 year free subscription for Disney+ for opening of 360 account + salary credit last night! My first streaming account and claiming it and setup is pretty straight forward. There is currently a promo to get $60 for opening of 360 account + salary credit. Good for those who doesn't need the Disney+ subscription that OCBC has used for the last 2 months as sweetener to open 360 account with OCBC.

 

[ericcsn]

Hi, I have problem this month to meet the $500 spending for ocbc365 card.
Paid for my car insurance but was told later that the MCC code is not eligible for both the card quarterly rebate and ocbc360 $500 spending.

Wondering if paying road tax using ocbc365 will be eligible at least for the $500 spending ?
Anyone has advise ? or any suggestion how to at least meet the $500 spending ?

Just buy supermarket vouchers whether online or in physical coupons. If latter sell them at a small discount to colleagues , carousels, facebook if you don’t consume them