ocbc 360 account

[steven168z]

i think the amount of interest covers the cost of the cheque book liao.. 3.05% p.a. where to find sia... citi step up how much nia

my time is salary credit with no min and i have unlimited cheque book.. i have open personal and joint acc. i have personal cheq book and joint cheq book.

till now i have 3 cheque book at home which they send me...

i saw now only give 1 free cheq book only

3.05% have condition to meet and so troublesome, somemore 50K max only.

it is like want to give dont want to give type.

ocbc like to play with condition like the ocbc bonus saver around 0.8% per yr if u deposit 1yr without withdrawal. if withdraw mean u wont get 0.8%.
http://www.ocbc.com.sg/personal-banking/accounts/higher-interest-deposit-bonus-plus.html

cimb give 0.8% directly, just deposit a lump sum inside they will auto divide into each mth $100 Month-end incremental deposit and give u 0.8%
http://www.cimbbank.com.sg/index.php?ch=sg_per_st&pg=sg_per_st_sav&ac=6&tpt=cimb_sg



i rather take the money to do investment or buy retail bonds like the recently CMT 7yr retail bond 3.08%.

 

[anfielder]

useless for me as it does not give free cheque book where as my citibank stepup acc with salary credit give me free cheque book

For Citi only the first cheque book is free. subsequent one is $10 or $15, not sure which.

The step-up account only gives max 0.13% interest and has a min balance of $5k.. so every month you're losing out at least $4 (assuming you qualify for 1.05%) to $12 (assuming you can meet the criteria for 3.05%) for that chequebook facility.

Am closing my Step-up account once I get my salary credit changed to the OCBC 360.

 

[steven168z]

For Citi only the first cheque book is free. subsequent one is $10 or $15, not sure which.

The step-up account only gives max 0.13% interest and has a min balance of $5k.. so every month you're losing out at least $4 (assuming you qualify for 1.05%) to $12 (assuming you can meet the criteria for 3.05%) for that chequebook facility.

why park so much fund inside for what... fund just enough for cheq use and the rest should be for investment

if u want high interest rather than investment than you should be looking at FD.

refer to this thread
Lastest S$ Deposit updates - Part 1
http://forums.hardwarezone.com.sg/m...eposit-updates-part-1-a-3056583-new-post.html


http://www.cimbbank.com.sg/index.php?ch=sg_per_st&pg=sg_per_st_inv&tpt=cimb_sg&tpt=cimb_sg

http://www.cimbbank.com.sg/promo/WWFDi/

 

[anfielder]

why park so much fund inside for what... fund just enough for cheq use and the rest should be for investment

if u want high interest rather than investment than you should be looking at FD.

refer to this thread
Lastest S$ Deposit updates - Part 1
Lastest S$ Deposit updates - Part 1 - Page 203 - www.hardwarezone.com.sg


Welcome to CIMB

CIMB Why Wait Fixed Deposit-i Promotion

You need to maintain $5k in TRB with Citi so unless you have loans, other accounts etc with them, that means you have to keep a minimum of $5k in the account. The $4 to $12 is based on that minimum amount.

Why would you even bother tying your funds up with FD when the rates are similar to what you would get just by fulfilling 1 out of 3 of the bonus interest criteria?

 

[MoDiE]

liquidity is the key here.

 

[steven168z]

liquidity is the key here.

you need 50K or 100K liquidity and to use all?



please don't put more than 50K in each bank else SDIC won't protect you



https://www.sdic.org.sg/
Deposit Insurance: Overview

Singapore consumers enjoy the benefits of a sound banking system. Banks and finance companies licensed in Singapore are supervised by the Monetary Authority of Singapore (MAS). It is MAS’ aim to ensure the stability of the banking system in Singapore and to require financial institutions to have sound risk management systems and adequate internal controls.

However, MAS does not guarantee the soundness of individual financial institutions. Therefore, a Deposit Insurance Scheme has been set up to protect the core savings of small depositors in Singapore in the event a full bank or finance company fails.


In the event a Deposit Insurance Scheme member bank or finance company fails, all of your eligible accounts with that member are aggregated and insured up to S$50,000. Trust and client accounts held by non-bank depositors are insured up to $50,000 per account.

Moneys held in bank deposits under the CPF Investment Scheme and CPF Minimum Sum Scheme are aggregated and separately insured up to S$50,000.

 

[MoDiE]

you need 50K or 100K liquidity and to use all?



please don't put more than 50K in each bank else SDIC won't protect you



https://www.sdic.org.sg/
Deposit Insurance: Overview

Singapore consumers enjoy the benefits of a sound banking system. Banks and finance companies licensed in Singapore are supervised by the Monetary Authority of Singapore (MAS). It is MAS’ aim to ensure the stability of the banking system in Singapore and to require financial institutions to have sound risk management systems and adequate internal controls.

However, MAS does not guarantee the soundness of individual financial institutions. Therefore, a Deposit Insurance Scheme has been set up to protect the core savings of small depositors in Singapore in the event a full bank or finance company fails.


In the event a Deposit Insurance Scheme member bank or finance company fails, all of your eligible accounts with that member are aggregated and insured up to S$50,000. Trust and client accounts held by non-bank depositors are insured up to $50,000 per account.

Moneys held in bank deposits under the CPF Investment Scheme and CPF Minimum Sum Scheme are aggregated and separately insured up to S$50,000.

u never know when u need the $.

and yes, i know about SDIC 50k, no need you to tell me.

 

[MoDiE]

and for the record, if you dun need ocbc360, then don't come in this thread loh, so simple.

 

[greddy88]

and for the record, if you dun need ocbc360, then don't come in this thread loh, so simple.

Bond and reit don't guarantee capital while they may give similar dividends. The intent is so different.

 

[steven168z]

Bond and reit don't guarantee capital while they may give similar dividends. The intent is so different.

if you hold all the way like CMT 7r till they redeem.. unless you get those without redemption date

there is no different further more for bonds better to get those reliable company

anyway it is different investment.

it is better to be split into different place where u put yr money

 

[MoDiE]

if you hold all the way like CMT 7r till they redeem.. unless you get those without redemption date

there is no different further more for bonds better to get those reliable company

anyway it is different investment.

it is better to be split into different place where u put yr money

dude, wrong discussion forum. u so smart can assume no one else in the world knows about SDIC 50k except you, yet simple thing like which forum to discuss which topic u can't tell ah?

 

[OCBC Bank]

Hi OCBC,
Can you help to confirm the following, I had check with hotline and bank staff but both give me different answer, can you help ?

1.Is singtel,M1 bill pay using OCBC credit card counted ?

2. Is utility bill pay using OCBC credit card counted ?

3. Town concil fee using OCBC credit card counted ?

4. life insurance premium using OCBC card counted ?

Thanks.

Hi awful999

Yes, as long as the biller is able to accept credit cards as a mode of payment, payments to these billers will count towards fulfilling the criteria for the credit card spend bonus interest. Hope this clarifies. Thanks!

^Greg
For OCBC Bank

 

[mikezuper]

I applied via online yesterday, how long is the SLA?

 

[ilovecheese]

hi what is SLA ?

 

[awful999]

Hi awful999

Yes, as long as the biller is able to accept credit cards as a mode of payment, payments to these billers will count towards fulfilling the criteria for the credit card spend bonus interest. Hope this clarifies. Thanks!

^Greg
For OCBC Bank

Hi Grag, thank for your confirmation, can I know the payment using ocbc credit cards to billing organisation in internet banking counted as 400 spend too ? thanks.

 

[mikezuper]

hi what is SLA ?

Service Level Agreement.

Or maybe I should put as ETA: estimated time accomplished.

Ok lah, basic term: how long does it take?

 

[mikezuper]

Service Level Agreement.

Or maybe I should put as ETA: estimated time accomplished.

Ok lah, basic term: how long does it take?

Opened liao - so I think 2 business days.

 

[cReDdY]

There is no requirement minimum payment for the 3 unique bills right?

So if i pay $1 to the 3 unique bills each, and pay the rest using FRANK CC for the further 6%.

Does it work? Do i still get the 1% interest?

 

[mikezuper]

There is no requirement minimum payment for the 3 unique bills right?

So if i pay $1 to the 3 unique bills each, and pay the rest using FRANK CC for the further 6%.

Does it work? Do i still get the 1% interest?

Bro, should just try and see lah. Later all people see and follow and bank increase to min $50 damn dulan haha

 

[kent07]

can i check if the payment of 3 bills can include payment of other bank's credit cards bills?