Lastest S$ Deposit updates - Part 3

[bumdssa]

Those who like simplicity or have maxed out on their HYSA accounts- 2.88% Ocbc for 88 days with $50k and above.
https://www.ocbc.com/personal-banking/deposits/statement-passbook-savings-account

And better deals if you are new to premier banking with fresh funds ; these are available at several banks.

what is their real definition of fresh funds. my salary is credited to my ocbc 360 account but i withdraw it every time it is credited. if if i deposit in 50k, they will not count the salary amt i withdrew?

 

[ericcsn]

what is their real definition of fresh funds. my salary is credited to my ocbc 360 account but i withdraw it every time it is credited. if if i deposit in 50k, they will not count the salary amt i withdrew?

looking at term 1.4 in https://www.ocbc.com/iwov-resources...personal-banking-sgd-topups-campaign-2025.pdf
and in particular:

1.4 (i) Funds in the form of non-OCBC cheques/ cashier’s orders/ demand drafts, funds that are not transferred from any existing OCBC accounts
.....
1.4 (iii) Funds must be incremental to the Eligible Customer’s overall deposit balances for 30 days from the date of Eligible Transaction,

it is likely a case that OCBC 360 account is included in the overall deposit balance.

But best to call them to clarify..

 

[bumdssa]

looking at term 1.4 in https://www.ocbc.com/iwov-resources...personal-banking-sgd-topups-campaign-2025.pdf
and in particular:

1.4 (iii) Funds must be incremental to the Eligible Customer’s overall deposit balances for 30 days from the date of Eligible Transaction,

it might be a case that OCBC 360 account is included in the overall deposit balance.

But best to call them to clarify, since OCBC 360 is not named as one of those in the Eligible Account in 1.2.

this is interest. guess they look at monthly average. if that is the case, maybe it is not so bad since i withdraw the day my salary is credited.

 

[ericcsn]

this is interest. guess they look at monthly average. if that is the case, maybe it is not so bad since i withdraw the day my salary is credited

Yes, intra day movements (made within the day) are not counted with (most) banks. Meaning if salary is paid and taken out same day, there is no net change

I actually put money in twice on 2 separate days.

First time was straight forward for me.

Second time on a different day, I put in an additonal amount but withdrew it on same day (as I misread that the promotion was for a one off).

Subsequently after clarifying, I re-deposited. It took a while (Saturday deposit, Thursday earmarked and they confirmed the date of interest would start from the day of deposit).

You do need to enrol per the eform https://internet.ocbc.com/internet-.../OnlineForm/Form?FormId=CASATopup2025&redir=1

 

[bumdssa]

Yes, intra day movements (made within the day) are not counted with (most) banks. Meaning if salary is paid and taken out same day, there is no net change

I actually put money in twice on 2 separate days.

First time was straight forward for me.

Second time on a different day, I put in an additonal amount but withdrew it on same day (as I misread that the promotion was for a one off).

Subsequently after clarifying, I re-deposited. It took a while (Saturday deposit, Thursday earmarked and they confirmed the date of interest would start from the day of deposit).

You do need to enrol per the eform https://internet.ocbc.com/internet-banking/Login/Login?rp=/internet-banking/OnlineForm/Form?FormId=CASATopup2025&redir=1

when you redeposit, it was a different day from where you deposited and withdrew?

 

[ericcsn]

when you redeposit, it was a different day from where you deposited and withdrew?

Yes.

On the second deposit:
1. I deposited and withdrew on same Friday. Then I called to clarify (but couldn't redeposit back on Friday itself as the bank re-transfer hit the day max limit)
2. So next day Sat, I did the transfer.

 

[bumdssa]

Yes.

On the second deposit:
1. I deposited and withdrew on same Friday. Then I called to clarify (but couldn't redeposit back on Friday itself as the bank re-transfer hit the day max limit)
2. So next day Sat, I did the transfer.

somehow only got to know abt this promo from your post. had i seen it end march it would be great. can musical chair my funds.

 

[CrashWire]

Those who like simplicity or have maxed out on their HYSA accounts- 2.88% Ocbc for 88 days with $50k and above.
https://www.ocbc.com/personal-banking/deposits/statement-passbook-savings-account

This is basically a ~3 month fixed deposit. Cannot add on additional amounts or withdraw.

 

[ericcsn]

This is basically a ~3 month fixed deposit. Cannot add on additional amounts or withdraw.

Can add additional amounts. I deposited twice.
https://forums.hardwarezone.com.sg/threads/lastest-s-deposit-updates-part-3.5575909/post-155920296.
There is a mechanism to apply for withdrawals but will have bonus impact. (See terms 2.6, 2.7 in https://www.ocbc.com/iwov-resources...personal-banking-sgd-topups-campaign-2025.pdf)

 

[EveMuffins]

OCBC FAST transfer limit out to other banks is still $100k, right? so if take part in 2.88% promo with >$100k, after 88 days will need >1 day to transfer out the funds?

only premier customers get $200k FAST transfer limit.

 

[ericcsn]

OCBC FAST transfer limit out to other banks is still $100k, right? so if take part in 2.88% promo with >$100k, after 88 days will need >1 day to transfer out the funds?

only premier customers get $200k FAST transfer limit.

So for non premier customers- u can do FAST transfers with $100k daily max limit and PAYNOW transfers with $200K daily max limit for a total of $300K daily limit. Needed to do that with my initially botched second deposit attempt and did a withdrawal (using a combination of FAST and PAYNOW) as amount exceeded FAST limit.

 

[EveMuffins]

So for non premier customers- u can do FAST transfers with $100k daily max limit and PAYNOW transfers with $200K daily max limit for a total of $300K daily limit. Needed to do that with my initially botched second deposit attempt and did a withdrawal (using a combination of FAST and PAYNOW) as amount exceeded FAST limit.

tks for the tips..didn't occur to me can utilize the PayNow transfer limit as well.

meaning for other banks like Maybank, can do FAST $200k + PayNow $200k = $400k daily limit.

 

[maumu]

tks for the tips..didn't occur to me can utilize the PayNow transfer limit as well.

meaning for other banks like Maybank, can do FAST $200k + PayNow $200k = $400k daily limit.

hmm... isn't there an aggregated daily limit by the bank for all transactions?

 

[sglandscape]

hmm... isn't there an aggregated daily limit by the bank for all transactions?

Yes there is, fast/paynow aggregate typically 200k max per calendar day for retail accounts.

 

[maumu]

Yes there is, fast/paynow aggregate typically 200k max per calendar day for retail accounts.

yeah so I thought.. hence it's not possible to do FAST 200k + PayNow 200k within one day right?

 

[sglandscape]

yeah so I thought.. hence it's not possible to do FAST 200k + PayNow 200k within one day right?

Not that I'm aware of, but happy to be proven wrong.

 

[ericcsn]

Not that I'm aware of, but happy to be proven wrong.

Might be just the $200k daily limit (not combined max FAST and PAYNOW - didn’t hit this daily withdrawal amount the last time I used on Ocbc)

 

[sglandscape]

Might be just the $200k daily limit (not combined max FAST and PAYNOW - didn’t hit this daily withdrawal amount the last time I used on Ocbc)

Could you explain the difference? 200k daily limit, is the same as combined max limit? Of which FAST by itself has a smaller limit of 100k

 

[ericcsn]

Could you explain the difference? 200k daily limit, is the same as combined max limit? Of which FAST by itself has a smaller limit of 100k

I think I could have the combined daily max limit wrong as $300k for personal banking customers; think this should be max to $200k (need to check). FAST is max $100k, u can utilise PAYNOW so long as total daily withdrawal limit is $200k. Of course u could choose to use just Paynow for a withdrawal of $200k.

 

[sglandscape]

I think I could have the combined daily max limit wrong as $300k for personal banking customers; think this should be max to $200k (need to check). FAST is max $100k, u can utilise PAYNOW so long as total daily withdrawal limit is $200k. Of course u could choose to use just Paynow for a withdrawal of $200k.

OK, if you happen to test and manage to get 300k combined limit to be successful can share. Would be good to know we could get more than 200k limit per day.

HSBC limit shows as 250k per day but if you do FAST it'll cap out at 200k.