ocbc 360 account

[sglandscape]

Got reminded how little interest this account now pays when saw the BI, will likely close this and move to Multiplier + UOB One combo to save the fall below fee.

 

[pohw0008]

Got reminded how little interest this account now pays when saw the BI, will likely close this and move to Multiplier + UOB One combo to save the fall below fee.

Uob one dropping again on December.. effective 1.9% for $150k.. less than $75k only 1%

 

[sglandscape]

Uob one dropping again on December.. effective 1.9% for $150k.. less than $75k only 1%

Think OCBC will cut soon, 100k now 2.4% (below the UOB 2.5% before cut), likely after cut would be below 2%. Last few months to enjoy.

 

[Cumzilla]

Think OCBC will cut soon, 100k now 2.4% (below the UOB 2.5% before cut), likely after cut would be below 2%. Last few months to enjoy.

Maybe not, as they posted better Q3 results than UOB

 

[sglandscape]

Maybe not, as they posted better Q3 results than UOB

Their out performance was from fee income though. UOB results drag due to credit losses

 

[bargin]

Bonus is in liao !!

 

[ericcsn]

Bonus is in liao !!

yes.
Bonus Interest Sala: $127.39
BI Spend: $33.97
BI Save: $42.46
BI Invest: $127.39

Total for above: $331.21

 

[ekardo]

super early this month...

 

[ericcsn]

super early this month...

yes - 7th working day without the sat, sun and PH.

 

[shengliang1981]

yes.
Bonus Interest Sala: $127.39
BI Spend: $33.97
BI Save: $42.46
BI Invest: $127.39

Total for above: $331.21

May I know what is the easiest and safest way to qualify for BI Invest? Thanks.

 

[ericcsn]

May I know what is the easiest and safest way to qualify for BI Invest? Thanks.

BI invest needs a min of $20k.

You could buy a 3 year structured deposit for $20k with a fixed return of 1.36 - 1.38% (principal of the $20k is protected). There is no fee with SD. https://www.ocbc.com/personal-banki...MI--zr36HukAMVb6pmAh3WcQUAEAAYAiAAEgKFLfD_BwE

In my case, I bought a UT - LionGlobal Short Duration Bond Fund Class A (SGD) which is very low risk. There is an upfront 0.88% fee (ie $176 that will be directly taken out of the $20k invested).

 

[shengliang1981]

BI invest needs a min of $20k.

You could buy a 3 year structured deposit for $20k with a fixed return of 1.36 - 1.38% (principal of the $20k is protected). There is no fee with SD. https://www.ocbc.com/personal-banki...MI--zr36HukAMVb6pmAh3WcQUAEAAYAiAAEgKFLfD_BwE

In my case, I bought a UT - LionGlobal Short Duration Bond Fund Class A (SGD) which is very low risk. There is an upfront 0.88% fee (ie $176 that will be directly taken out of the $20k invested).

Thank you for sharing. Will look into it.

 

[tehhalia]

In my case, I bought a UT - LionGlobal Short Duration Bond Fund Class A (SGD) which is very low risk. There is an upfront 0.88% fee (ie $176 that will be directly taken out of the $20k invested).

If I read it correctly, does it mean I invest 20k, they minus away the .88% fee from my 20k, hence dropping slightly below 20k, it is still eligible for invest BI?

 

[ericcsn]

If I read it correctly, does it mean I invest 20k, they minus away the .88% fee from my 20k, hence dropping slightly below 20k, it is still eligible for invest BI?

yes. In my case, this works.

In the apps, it will show up as -
Total invested amount: 20K

Total market value is shown separately.

 

[ericcsn]

Thank you for sharing. Will look into it.

I have a further add:
1. A colleague of mine used his SRS to buy and qualify for the BI.
2. And his SRS wasn’t even with OCBC bank (but with UOB).
3. In his case, he had to physically apply for the UT through a bank rep at the bank at a slightly higher rate than 0.88%.
4. Good luck.

 

[cochran]

BI invest needs a min of $20k.

You could buy a 3 year structured deposit for $20k with a fixed return of 1.36 - 1.38% (principal of the $20k is protected). There is no fee with SD. https://www.ocbc.com/personal-banki...MI--zr36HukAMVb6pmAh3WcQUAEAAYAiAAEgKFLfD_BwE

In my case, I bought a UT - LionGlobal Short Duration Bond Fund Class A (SGD) which is very low risk. There is an upfront 0.88% fee (ie $176 that will be directly taken out of the $20k invested).

Is there any fee to pay or any cost if stop this invest after 1 year?

Do note that this 20k invest OCBC 360 will only pay the BI invest interest for 12 mths then no more and u need to invest 20k again.

 

[ericcsn]

Is there any fee to pay or any cost if stop this invest after 1 year?

Do note that this 20k invest OCBC 360 will only pay the BI invest interest for 12 mths then no more and u need to invest 20k again.

SD is for 3 years, early termination fees will apply. Otherwise no fees.

UT - upfront sales charge ( if on line is 0.88%). Mgmt and others fees: u have to look up the prospectus of the UT u wish to purchase for the specific %. You don’t need to hold the UT for one year. 15 days is sufficient to allow u to earn the BI invest.

 

[itchying]

Think i saw Sd was 3% earlier this year. Dropped so much.

 

[tehhalia]

still waiting to see how ocbc will react to UOB's recent rate cut...

 

[sglandscape]

still waiting to see how ocbc will react to UOB's recent rate cut...

Likely cut next month if you follow their pattern in the past.