ocbc 360 account

[deepblueli]

No one cross over maybank saveup?

I am crossing over. Going to close OCBC 360 next month after getting interest.

Putting 50K in Maybank earns more interest than 70K in OCBC.

 

[wc1985]

I am crossing over. Going to close OCBC 360 next month after getting interest.

Putting 50K in Maybank earns more interest than 70K in OCBC.

Hi im interested to know more about this.

 

[Ronaldo88]

I am crossing over. Going to close OCBC 360 next month after getting interest.

Putting 50K in Maybank earns more interest than 70K in OCBC.

I just open it tdy..thinking of how to arrange my bills into giro n cc..

 

[1982-1994]

have to make sure total expenses above $800, in order to qualify for the 2.9375% interest (or higher).only applicable to MayBank..

i have given alot of time to plan for my giro deduction and cc expenses. lol

 

[deepblueli]

Hi im interested to know more about this.

70K in OCBC earns 1.8% = $1260
50K in Maybank earns 2.75% = $1375

In reality, Maybank can earn more than 3% if you include base interest and credit card rebate.

Put your insurance and income tax to giro and other expenses to credit cards should fulfill Maybank SaveUp criterias.

 

[AMD_FREAK]

70K in OCBC earns 1.8% = $1260
50K in Maybank earns 2.75% = $1375

In reality, Maybank can earn more than 3% if you include base interest and credit card rebate.

Put your insurance and income tax to giro and other expenses to credit cards should fulfill Maybank SaveUp criterias.

Hmm Maybank Saveup is catching my attention now!

Please double check if my calculation is correct for 50k deposit :

First 3000 (0.1875%) : 5.625
Next 47000 (0.25%) : 117.5
Add 3 products (2.75% of 50k) : 1375

So it's $1498.125 interest a year ($124.84 a month)

If this is correct, can I also confirm Maybank Save Up yields the highest interest right now?

Also, which petrol is the best to pump with Maybank?

 

[wealth_farmer]

Depending on your salary and usual credit card spend, if your credited salary is >$6,000 and your usual credit spend is more than $1,500 a month, then BOC SmartSaver will yield higher interest.

But otherwise, yes, Maybank SaveUp will give higher interest. However, note that the cashback for credit card spend on the Maybank MasterCard is not as good as compared to BOC Family card, so once you factor the cashback in, advantage could be back with BOC again. YMMV.

Hmm Maybank Saveup is catching my attention now!

Please double check if my calculation is correct for 50k deposit :

First 3000 (0.1875%) : 5.625
Next 47000 (0.25%) : 117.5
Add 3 products (2.75% of 50k) : 1375

So it's $1498.125 interest a year ($124.84 a month)

If this is correct, can I also confirm Maybank Save Up yields the highest interest right now?

Also, which petrol is the best to pump with Maybank?

 

[deepblueli]

Depending on your salary and usual credit card spend, if your credited salary is >$6,000 and your usual credit spend is more than $1,500 a month, then BOC SmartSaver will yield higher interest.

But otherwise, yes, Maybank SaveUp will give higher interest. However, note that the cashback for credit card spend on the Maybank MasterCard is not as good as compared to BOC Family card, so once you factor the cashback in, advantage could be back with BOC again. YMMV.

If you are belonging to rich category, then you can entitle to the below:
http://info.maybank2u.com.sg/personal/promo/income-tax-giro.aspx

I think Maybank can still give you a better return

 

[deepblueli]

Hmm Maybank Saveup is catching my attention now!

Please double check if my calculation is correct for 50k deposit :

First 3000 (0.1875%) : 5.625
Next 47000 (0.25%) : 117.5
Add 3 products (2.75% of 50k) : 1375

So it's $1498.125 interest a year ($124.84 a month)

If this is correct, can I also confirm Maybank Save Up yields the highest interest right now?

Also, which petrol is the best to pump with Maybank?

Yes + credit card rebate.

You can only use Maybank Visa platinum to quality for the credit card spend criteria.

 

[MarxusG]

I have recently just signed up for the 360 account. I am a Singtel user and I understand that payment of singtel bills is not possible online through the app. I have a total of 5 Singtel bills, 1 SP bill as well as town council. Can anyone advice on how I should arrange the payments to maximise the interest I can earn? 500 cc can hit if I can use it to pay bills..

 

[tiertime]

I have recently just signed up for the 360 account. I am a Singtel user and I understand that payment of singtel bills is not possible online through the app. I have a total of 5 Singtel bills, 1 SP bill as well as town council. Can anyone advice on how I should arrange the payments to maximise the interest I can earn? 500 cc can hit if I can use it to pay bills..

you can pay for your singtel bills with credit cards via https://myaccount.singtel.com/login.aspx

 

[Trazora]

I have recently just signed up for the 360 account. I am a Singtel user and I understand that payment of singtel bills is not possible online through the app. I have a total of 5 Singtel bills, 1 SP bill as well as town council. Can anyone advice on how I should arrange the payments to maximise the interest I can earn? 500 cc can hit if I can use it to pay bills..

In case you have not realized OCBC 360 has changed the bonus interest structure recently, many of the bros here have abandoned ship.

 

[Squaredot]

Yup but unfortunately I have just signed up for it

360 attractive no more.
Keep min and close account after 6m to avoid $30 fee

 

[Trazora]

360 attractive no more.
Keep min and close account after 6m to avoid $30 fee

I just keep $0.

 

[naro]

Or send in form to close account.

One of the ocbc rep replied with the link.

 

[gnixer]

If you confirm can spend $500 on credit card monthly, UOB One is better.
If you failed to spend $500 that month, you will lose $100++ interest for UOB One.
For OCBC, you only lose $17.5 if you fail to spend $500 CC.

can it be recurring amount for the $500 spending?

 

[tinky123]

Was just wondering about this. Need advice:

I just opened a BoC smartsavers acc, i can continue to use ocbc 360 to continue my salary crediting to earnt that 1.2% of the salary creditied (BoC only 0.8% and i take home less than 6k salary).

Then park all the money in BoC to earn the prevailing interest and the interest from bill payment and cc spend using BoC acc.

So in total, i can still earn as such:

1.2% (from ocbc 360) + 0.8%(BoC $500 cc spend) + 0.35%(BoC bill payment) + 0.35% (BoC prevailing interest if more than 20k in acc)

Total interest earn: 2.7%

Is my calculation correct or am i missing something?

 

[aKaGiz]

U park money in boc then ocbc earn what??

 

[tinky123]

U park money in boc then ocbc earn what??

From my understanding, the 1.2% is of the salary right from ocbc 360? Not the whole acc.

 

[oceanicmanta]

Was just wondering about this. Need advice:

I just opened a BoC smartsavers acc, i can continue to use ocbc 360 to continue my salary crediting to earnt that 1.2% of the salary creditied (BoC only 0.8% and i take home less than 6k salary).

Then park all the money in BoC to earn the prevailing interest and the interest from bill payment and cc spend using BoC acc.

So in total, i can still earn as such:

1.2% (from ocbc 360) + 0.8%(BoC $500 cc spend) + 0.35%(BoC bill payment) + 0.35% (BoC prevailing interest if more than 20k in acc)

Total interest earn: 2.7%

Is my calculation correct or am i missing something?

if u hv total 120k & place 60k BoC & 60k OCBC360, then yes u earn 2.7% on 60k ... not 2.7% on 120k !

BODMAS says so.