ocbc 360 account

[haido80]

If avg balance for May is 50,000 and Jun is 52,000, my guess they will give 1% for the 2,000 only.

Most likely this. Haiz... 3.05% becomes 2.25%... somemore not every month i spend $500. 1% for insurance factor is crap.

Really need to take a long hard look at UOB's offer...

 

[ken_nerve]

Can see how they calculate incremental amount here. Bonus paid on incremental amount.
http://www.ocbc.com.sg/personal-banking/Accounts/360-account-faq.html#save-bonus

 

[RM2SSG]

A bit confused on the wealth bonus.

Say if I buy 2 qualifying products, both satisfied the minimum amount stipulated individually, does it means I am getting 1% more or 2% more?

 

[dbzcardcollector]

Think most will be getting this range..


the 1% invest or insure is sure out for most, and the 1% for incremental is just on the INCREMENTAL part nia not the overall balance....

Looks like my achievable 2.2% plus peanuts on incremental balance..

 

[adrianwang74]

it ish still goot lor... except for the investment part... the rest quite good

 

[mummy1234]

Beyond $60k, the bonus 1% for incremental balance is only for 1 mth. On the subsequent mth, if incremental balance was $2000 to $62 000 for the previous mth, the interest on that extra $2000 will fall back to 0.05%....so not very attractive. Might as well put in CIMB for consistent 0.8% every mth without so many complicated terms and conditions..

 

[dork32]

Most likely this. Haiz... 3.05% becomes 2.25%... somemore not every month i spend $500. 1% for insurance factor is crap.

Really need to take a long hard look at UOB's offer...

uob also need to spend 500

 

[ken_nerve]

Beyond $60k, the bonus 1% for incremental balance is only for 1 mth. On the subsequent mth, if incremental balance was $2000 to $62 000 for the previous mth, the interest on that extra $2000 will fall back to 0.05%....so not very attractive. Might as well put in CIMB for consistent 0.8% every mth without so many complicated terms and conditions..

Or do a bit of juggling.

Assuming there's already $60k in the account. Deposit and withdraw cash on alternate months.
Alternate between OCBC for 1% and CIMB for 0.8%.

 

[dork32]

it ish still goot lor... except for the investment part... the rest quite good

correct 8000 premium a year, 700 per month. who would put so much into insurance everymonth?

 

[mummy1234]

Or do a bit of juggling.

Assuming there's already $60k in the account. Deposit and withdraw cash on alternate months.
Alternate between OCBC for 1% and CIMB for 0.8%.

That is a good idea...

Pity that my salary is given by cheque and company cannot have the GIRO -SAL code, lose out on both OCBC 360 1.2% and UOB one account...

 

[zoossh]

That is a good idea...

Pity that my salary is given by cheque and company cannot have the GIRO -SAL code, lose out on both OCBC 360 1.2% and UOB one account...

then either u stick to cimb at 0.8 fuss free.

or do simple monthly FAST transfer for 50-60k dep on an average of 1.4-2.4 between accounts. well, that is agar2 $30-70 niah, may or may not be worthwhile of your time compared to locum. still 100/hr or more liao?

 

[DealuxTravel]

That is a good idea...

Pity that my salary is given by cheque and company cannot have the GIRO -SAL code, lose out on both OCBC 360 1.2% and UOB one account...

UOB ONE account needs 3 GIRO deductions / month OR Salary credit to get the bonus. No need salary credit , just have 3 monthly GIRO deduction.

 

[mummy1234]

UOB ONE account needs 3 GIRO deductions / month OR Salary credit to get the bonus. No need salary credit , just have 3 monthly GIRO deduction.

Can it be internet bank payment instead of GIRO deduction?

 

[mummy1234]

then either u stick to cimb at 0.8 fuss free.

or do simple monthly FAST transfer for 50-60k dep on an average of 1.4-2.4 between accounts. well, that is agar2 $30-70 niah, may or may not be worthwhile of your time compared to locum. still 100/hr or more liao?

It varies from $75/hr for lax clinic to $120/hr for last minute slots at busy clinics....I do mostly at $80, $85 and $100/hr...

 

[DealuxTravel]

Can it be internet bank payment instead of GIRO deduction?

NO.

But you can GIRO to pay your UOB credit cards every month.

Say you have 3 UOB credit cards, then GIRO all of them.

Spend 500 on UOB ONE credit card.

Spend 10 on another UOB credit card x2.

GIRO all 3 of them. Done.

 

[mummy1234]

NO.

But you can GIRO to pay your UOB credit cards every month.

Say you have 3 UOB credit cards, then GIRO all of them.

Spend 500 on UOB ONE credit card.

Spend 10 on another UOB credit card x2.

GIRO all 3 of them. Done.

But it needs $500 credit card spend again...dun wanna spend so much and get so many credit cards so probably wait for the new Singapore bond funds to come out or open a CIMB account...

 

[ken_nerve]

But it needs $500 credit card spend again...dun wanna spend so much and get so many credit cards so probably wait for the new Singapore bond funds to come out or open a CIMB account...

For now, open Standard Chartered eSaver account. Between 1.25 - 1.4% interest depend on how much you deposit.
This is offer only until 31 May. Treat it as 1 month fixed deposit.
No minimum sum, no fall below fee, auto account closure if $0 in account for more than 6 months. Hassle free, don't even have to go down to the bank to close the account.

1 June transfer everything to CIMB.

 

[mummy1234]

On second thoughts, opening a UOB one account and transferring money from OCBC 360 over seems a better idea since I will only get 1.05% and 1% on incremental balance, might as well do my credit card spend in UOB one and get 3.33%. Can transfer my GIRO payments over since can pay internet bills on OCBC 360....

 

[FlameEvil]

Salary now 1.2%, with just spending at least $500 and incremental , u total getting 3.2%???

Sent from the power of my mind using GAGT

 

[mummy1234]

Salary now 1.2%, with just spending at least $500 and incremental , u total getting 3.2%???

Sent from the power of my mind using GAGT

My salary is paid by cheque and cannot get the GIRO SAL code, so cannot get the 1.2%..