ocbc 360 account

[more3cm]

I'm missing one giro transaction for this month. Any way where I can do a one-time giro transaction? Thanks.

Just pay any bill will do... no need giro

 

[lupster]

Typically, when will the bonus interest be credited? Have not received the bonus interest yet for last mth.

 

[Trazora]

Typically, when will the bonus interest be credited? Have not received the bonus interest yet for last mth.

8th working days in calendar month

 

[OCBC Bank]

Typically, when will the bonus interest be credited? Have not received the bonus interest yet for last mth.

Hi Lupster,

Bonus interests are typically credited by the 7th business day of the month.

^WX

 

[mdax23]

Typically, when will the bonus interest be credited? Have not received the bonus interest yet for last mth.

u can only smell it after CNY

 

[lupster]

u can only smell it after CNY

Delay as much as possible to reduce the effect of compounding?

 

[zoossh]

I made 6 bill payment transactions in the month of Dec15 to qualify for the 360 3 transaction bonus.
However 2 of the transactions got rejected.
I would think that 6-2 = 4 successful transactions would still entitle me to the bonus.
However OCBC hotline informed me that as long as any of my transaction got rejected, my entire bonus is voided. How is that fair to the customer?
Why would a rejected transaction void our other transactions as well?

Guys be aware of this.

In future, I will only make exactly 3 bill payments for ocbc and nothing else in case any get rejected and I lose my bonus. You guys should do the same, limit your monthly transactions in OCBC to 3.

Yes that is absolutely unfair.

Not just do ocbc owe you an explanation, they owe every one of us an explanation if their course of activity is not reasonable.

 

[Gaara1989]

7th workin day liao no bonus?

 

[wts2013]

7th workin day liao no bonus?

hahaha jib liao

 

[OCBC Bank]

7th workin day liao no bonus?

Hi Gaara1989,

The bonus interest will be credited at the end of the day. Please check tomorrow, and drop us a PM if you have not received it.

 

[chopra]

hahaha jib liao

Najib najib!!

 

[bananalow]

I just wondering why I only get pitiful less than $1 for my 360 Salary bonus. If count by 1.2% p.a. for 2k salary should be getting $2 right? Did I calculate it correctly?

 

[dork32]

I just wondering why I only get pitiful less than $1 for my 360 Salary bonus. If count by 1.2% p.a. for 2k salary should be getting $2 right? Did I calculate it correctly?

you did not calculate correctly. 1.2% is on the deposited amount, not salary. to calculate the salary bonus, you just take the payment bonus times 2.4.

the reason why the salary bonus is pitiful is because the amount you hold in the 360 account is pitiful.

this month, dont withdraw so much of your salary out of your account. the salary bonus will be higher.

 

[anfielder]

I just wondering why I only get pitiful less than $1 for my 360 Salary bonus. If count by 1.2% p.a. for 2k salary should be getting $2 right? Did I calculate it correctly?

interest is based on your average balance, not salary amount.

 

[iadpotato]

I just wondering why I only get pitiful less than $1 for my 360 Salary bonus. If count by 1.2% p.a. for 2k salary should be getting $2 right? Did I calculate it correctly?

cos u have less than $1000 in your 360 account.

interest is based on your average balance, not salary amount.

lol. this is really epic right?

 

[bananalow]

you did not calculate correctly. 1.2% is on the deposited amount, not salary. to calculate the salary bonus, you just take the payment bonus times 2.4.

the reason why the salary bonus is pitiful is because the amount you hold in the 360 account is pitiful.

this month, dont withdraw so much of your salary out of your account. the salary bonus will be higher.

Hi sorry I still didn't get to understand the calculation method. What do you mean by payment bonus times 2.4? Which payment bonus you refer to?

And let say if I didn't take out any of my salary for eg.2k for whole month, can I assume that next month the the salary bonus would be $2?

 

[wts2013]

Hi sorry I still didn't get to understand the calculation method. What do you mean by payment bonus times 2.4? Which payment bonus you refer to?

And let say if I didn't take out any of my salary for eg.2k for whole month, can I assume that next month the the salary bonus would be $2?

hahaha for u to max your benefit on the 360 account, u shld deposit max 60k into the account. With salary crediting of min 2k, u get extra 1.2% on the balance in the account. Interest is calculated as 60k x 1.2%/365*31 days (Jan) assuming u have max 60k in the account.

If u only keep your salary in the account, say 2k credited, interest is calculated based on the number of days the 2k sits in the account, say your salary is only credited into the account on 15 Jan, u earn only 2k x 1.2%/365 * 15 days.

(assuming u maintained 3k min balance in account, add this to calculate the interest)

 

[dork32]

Hi sorry I still didn't get to understand the calculation method. What do you mean by payment bonus times 2.4? Which payment bonus you refer to?

And let say if I didn't take out any of my salary for eg.2k for whole month, can I assume that next month the the salary bonus would be $2?

there is only one payment bonus.
eg my payment bonus this month was 1.06
my salary bonus is 2.56
1.06 * 2.4 = 2.544 which is almost 2.56 because of rounding error.

last month my payment bonus was 25.47
my salary bonus was 61.15
25.47*2.4 = 61.13 which is almost 61.15

if your salary is only credited at the end of the month, even if you do not withdraw, you still get pathetic interest. The idea is to hold as much money as you can in your account for the longest period of time.

 

[bananalow]

hahaha for u to max your benefit on the 360 account, u shld deposit max 60k into the account. With salary crediting of min 2k, u get extra 1.2% on the balance in the account. Interest is calculated as 60k x 1.2%/365*31 days (Jan) assuming u have max 60k in the account.

If u only keep your salary in the account, say 2k credited, interest is calculated based on the number of days the 2k sits in the account, say your salary is only credited into the account on 15 Jan, u earn only 2k x 1.2%/365 * 15 days.

(assuming u maintained 3k min balance in account, add this to calculate the interest)

there is only one payment bonus.
eg my payment bonus this month was 1.06
my salary bonus is 2.56
1.06 * 2.4 = 2.544 which is almost 2.56 because of rounding error.

last month my payment bonus was 25.47
my salary bonus was 61.15
25.47*2.4 = 61.13 which is almost 61.15

if your salary is only credited at the end of the month, even if you do not withdraw, you still get pathetic interest. The idea is to hold as much money as you can in your account for the longest period of time.

interest is based on your average balance, not salary amount.

Thanks for showing all the calculation. Finally I know how to calculate already. All based on Average Balance. Thanks for all the help anyway.

I have save bonus and salary bonus only since I do not own the ocbc 365 cc, so payment bonus calculation is not applicable for me.

 

[dork32]

Thanks for showing all the calculation. Finally I know how to calculate already. All based on Average Balance. Thanks for all the help anyway.

I have save bonus and salary bonus only since I do not own the ocbc 365 cc, so payment bonus calculation is not applicable for me.

payment bonus is one of the easiest bonus. you have to pay 3 online bills