New changes to the OCBC 360 released!

[misssam]

OCBC 360 New Criterias

1) 1.2% Per Year

Credit your salary of at least S$2,000 through GIRO

How to earn the bonus interest:
- Credit your salary of at least S$2,000 per month.

- You will receive this bonus interest by the 7th business day (exclude Saturday, Sunday and Public Holiday) of the following month.

- Only salary credit with the transaction description "GIRO-SALARY" will qualify for this bonus.

2) 0.5% Per Year

Pay any 3 bills online or through GIRO

How to earn the bonus interest:
- Make 3 unique bill payments from this account with OCBC Online Banking using Pay Any Bill and Pay Any Card services or through GIRO.

- Multiple payments to the same bill within the calendar month will be considered as a single payment.

- You will receive this bonus interest by the 7th business day (excluding Saturday, Sunday and Public Holiday) of the following month.

3) 0.5% Per Year

Spend at least S$500 on OCBC Credit Cards

How to earn the bonus interest:
- Spend at least S$500 in total across your personal OCBC Credit Cards such as 365, Titanium, Platinum, FRANK, Robinsons, Plus! and Best Denki.

- You will receive this bonus interest by the 7th business day (exclude Saturday, Sunday and Public Holiday) of the following month.

4) 1% per year

Insure or invest and get this bonus for 12 months

How to earn the bonus interest:
- Purchase any eligible financial product of at least the minimum amount, such as Endowment of at least S$8,000 in annual premium, or investment products such as Unit Trust or Structured Deposits of at least S$40,000.

- If you make multiple purchases of eligible financial products within the same month, we will only combine purchases of the same product type which have passed 14 days after the product’s effective date. Effective date refers to the inception date of the insurance plan, trade date of unit trust, deposit start date of structured deposit and transaction date for other investment products.

- This bonus interest is paid for 12 months after the free cancellation period or 14 days, whichever is longer.

5) 1% per year

Increase your account balance from the previous month’s balance

How to earn the bonus interest:

- Incremental account balance is the difference between current and previous month’s account balance.

- This bonus interest will be paid on incremental account balance of up to S$1,000,000.

- You will receive this bonus interest by the 7th business day (excluding Saturday, Sunday and Public Holiday) of the following month.

SIC:

http://sugaspiceeverythingnice.blogspot.sg/2015/04/ocbc360-it-just-got-better.html

Worth to continue or move the funds out ?

 

[neolaw]

OCBC 360 New Criterias

1) 1.2% Per Year

Credit your salary of at least S$2,000 through GIRO

How to earn the bonus interest:
- Credit your salary of at least S$2,000 per month.

- You will receive this bonus interest by the 7th business day (exclude Saturday, Sunday and Public Holiday) of the following month.

- Only salary credit with the transaction description "GIRO-SALARY" will qualify for this bonus.

2) 0.5% Per Year

Pay any 3 bills online or through GIRO

How to earn the bonus interest:
- Make 3 unique bill payments from this account with OCBC Online Banking using Pay Any Bill and Pay Any Card services or through GIRO.

- Multiple payments to the same bill within the calendar month will be considered as a single payment.

- You will receive this bonus interest by the 7th business day (excluding Saturday, Sunday and Public Holiday) of the following month.

3) 0.5% Per Year

Spend at least S$500 on OCBC Credit Cards

How to earn the bonus interest:
- Spend at least S$500 in total across your personal OCBC Credit Cards such as 365, Titanium, Platinum, FRANK, Robinsons, Plus! and Best Denki.

- You will receive this bonus interest by the 7th business day (exclude Saturday, Sunday and Public Holiday) of the following month.

4) 1% per year

Insure or invest and get this bonus for 12 months

How to earn the bonus interest:
- Purchase any eligible financial product of at least the minimum amount, such as Endowment of at least S$8,000 in annual premium, or investment products such as Unit Trust or Structured Deposits of at least S$40,000.

- If you make multiple purchases of eligible financial products within the same month, we will only combine purchases of the same product type which have passed 14 days after the product’s effective date. Effective date refers to the inception date of the insurance plan, trade date of unit trust, deposit start date of structured deposit and transaction date for other investment products.

- This bonus interest is paid for 12 months after the free cancellation period or 14 days, whichever is longer.

5) 1% per year

Increase your account balance from the previous month’s balance

How to earn the bonus interest:

- Incremental account balance is the difference between current and previous month’s account balance.

- This bonus interest will be paid on incremental account balance of up to S$1,000,000.

- You will receive this bonus interest by the 7th business day (excluding Saturday, Sunday and Public Holiday) of the following month.

SIC:

http://sugaspiceeverythingnice.blogspot.sg/2015/04/ocbc360-it-just-got-better.html

Worth to continue or move the funds out ?

Previously, I got only Salary and 3-Giros. Only 2.05%.

Now, I get Salary, 3-Giros and increment. 2.75%.

Definitely, stay.

 

[HWZ1973]

OCBC calls this an enhancement!
PUI! PUI!

 

[foodiee]

Previously, I got only Salary and 3-Giros. Only 2.05%.

Now, I get Salary, 3-Giros and increment. 2.75%.

Definitely, stay.

the increment 1% cannot be counted as 1%.. -.-

 

[spellman]

Please note that the bonus interest for incremental account balances will be paid on incremental account balance only.

Just thinking, if they use snap shot of the calendar month of 30th,
1st-29th balance: S$10,000
30th Balance: S$1,000 (withdraw S$9,000)
31st Balance: S$10,000 (deposit back)

if they compare 30th balance they will only see S$1,000
Every month do the same, Can?

 

[misssam]

Please note that the bonus interest for incremental account balances will be paid on incremental account balance only.

Just thinking, if they use snap shot of the calendar month of 30th,
1st-29th balance: S$10,000
30th Balance: S$1,000 (withdraw S$9,000)
31st Balance: S$10,000 (deposit back)

if they compare 30th balance they will only see S$1,000
Every month do the same, Can?

Not too sure if this works. But quite sure that avg. monthly balance would. Assuming something like this;

Month 1
1st-31st balance: S$10,000

Month 2
1st-31st balance: S$14,000 (deposit S$4,000)

Month 3
1st-31st balance: S$10,000 (withdraw S$4,000)

Month 4
1st-31st balance: S$14,000 (deposit S$4,000)

My opinions are that month 2 and 4 will earn additional 1 % on the S$4,000

 

[neolaw]

the increment 1% cannot be counted as 1%.. -.-

Oh, yeah. You are right.

 

[dkstar15]

Oh one other difference I noticed... interest now is on the first $60k

 

[FlameEvil]

Only difference from previous criteria is $500. U will get 2.2% + 1% of additional deposit.

Sent from the power of my mind using GAGT

 

[Squaredot]

Wish to clarify this sentence : Bonus interest on the first S$60,000 of your account balance

If April avg balance is $50k and May avg balance is S$60k (after salary and deposit) how much is the salary credit bonus ?
is it 1.2%*50k or 60k ?
is there also a Save bonus for incremental account balance in this case ?

 

[xRenol]

Wish to clarify this sentence : Bonus interest on the first S$60,000 of your account balance

If April avg balance is $50k and May avg balance is S$60k (after salary and deposit) how much is the salary credit bonus ?
is it 1.2%*50k or 60k ?
is there also a Save bonus for incremental account balance in this case ?

If I am not wrong,

Apr
Salary Bonus Interest: 1.2%/year x $50k = $50

May
Salary Bonus Interest: 1.2%/year x $60k = $60
Save Bonus: 1%/year x $10k = $8.33

 

[Squaredot]

If I am not wrong,

Apr
Salary Bonus Interest: 1.2%/year x $50k = $50

May
Salary Bonus Interest: 1.2%/year x $60k = $60
Save Bonus: 1%/year x $10k = $8.33

Thanks bro. Salary bonus interest for April should be 1%
I will be happy if $10k incremental balance in May earns salary bonus+save bonus+payment bonus+spend bonus too

 

[Squaredot]

btw the incremental funds can from an ocbc acct right ? I did not see "fresh fund" stated.

 

[Acetone]

Oh one other difference I noticed... interest now is on the first $60k

Yes, they have increased it to S$60,000

 

[flyboy]

The new 1% bonus on incremental balance is such a time waster.

The only time I am going to benefit from it is when I put in 10K later, to top up to 60K. My May monthly balance will be > April montly balance by 10k.

After May, its too much work to earn that 1%. Might as well leave in CIMB starsaver to earn that 0.8% fuss free!

 

[tiny]

Not easy to fulfill incremental increase SINCE your salary is credited into the same account and this bigger amount is already counted as incremental?

 

[Squaredot]

The only time I am going to benefit from it is when I put in 10K later, to top up to 60K. My May monthly balance will be > April montly balance by 10k.

After May, its too much work to earn that 1%. Might as well leave in CIMB starsaver to earn that 0.8% fuss free!

I'm taking this 'benefit' in May first. Come June, will move money to earn 2.35

 

[adrianwang74]

same... moi have 87k, will keep money in OCBC360 ... then move moi 27k out into esaver in june and repeat.

 

[IamBeeP]

same... moi have 87k, will keep money in OCBC360 ... then move moi 27k out into esaver in june and repeat.

http://www.channelnewsasia.com/mobile/business/fast-transaction-limit-to/1826676.html

Good news for u

 

[adrianwang74]

thanks for the link!. its about time they inc. the limit. just that its still subjected to the individual bank's limit.... for uob, its 10k