ocbc 360 account

[otaku7]

I dunno about you. But the "so much efforts" only involved the following for me:

1. submit letter to HR to change bank account. 1 time only. Done. extra 1% which is already higher than most of other banks in Singapore

2. set reminder for yourself. 1 time per month. go internet banking, pay 3 different bill (even $1 for each bill can do). Done. 5 minutes only every month. Extra 1%. Total 2.05%. Very good already.

With the above 2, you get 2.05% which is about $5 per month if average balance $3000.

It is the 3rd condition which is more troublesome. But not much more troublesome than using other credit cards imo.

unless the person needs to do all these in person then they might find it cumbersome or "not worth it".

my case, lagi easy.

1. open 360 account through ibanking, same day activated. transferred money from my other bank it on the same day.

2. inform HR I'm changing bank. sent them a transaction history pdf of my account. (1%)

3. applied giro arrangements through ocbc ibanking so that the old giro from the other bank account will be redundant after this new arrangement is approved. plus settle monthly cc spending on 2 cards also online. (2%)

4. the balance, also don't really need to monitor too closely...so more or less that's 3.05% in the pocket liao.

 

[otaku7]

anyone know? my salary on 25th , i notice on 24th ocbc already credited the salary but what is the exact time, i need some cash this evening time.

i think you can use it already.

 

[ykeen]

if you come to me and say you have not eaten for a few days, i dont mind paying 7.50 for you to eat in a food court

if you come to me and say you and your partner, have not eaten at the hotel for a long long time. i will never pay 127 for you to eat there.

So u meant we just need to ask 17x people like u for 7.50 to get the $127.

In that case the effort required is more than the 360 account $127 interest. lol. Although its potentially possible to ask 17 person in one day while we need to wait a whole month for the interest to come in...

 

[Ah boy]

i think you can use it already.

Now 5.12pm just check it, got money in liao, $3044 after cpf , can go out already later time after work.

 

[OCBC Bank]

if 2 ppl open a 360 joint account, can the secondary acct-holder open his own 360 acct?

He certainly can! You can open multiple 360 accounts under joint names, but can only be the primary/ main holder of one.

If he is the secondary holder for the current joint account, he can open a single-name account & be the primary holder for that.

Hope this clarifies!

^Shereen

 

[dork32]

So u meant we just need to ask 17x people like u for 7.50 to get the $127.

In that case the effort required is more than the 360 account $127 interest. lol. Although its potentially possible to ask 17 person in one day while we need to wait a whole month for the interest to come in...

what i am trying to say is 7.50 for the whole month is very little

127 is quite ok.

i will only give 7.5 to "kelian" people if they have no money for food. i will not give it to any tom, tick or sally

 

[whatsupdawggg]

i am quite sure this has been asked many times but too many pages to dig for the answer...

the 3 bills to be paid can consist of what? can only be paid through internet banking to be counted?

 

[naro]

i am quite sure this has been asked many times but too many pages to dig for the answer...

the 3 bills to be paid can consist of what? can only be paid through internet banking to be counted?

Check ocbc website

 

[RM2SSG]

I dunno about you. But the "so much efforts" only involved the following for me:

1. submit letter to HR to change bank account. 1 time only. Done. extra 1% which is already higher than most of other banks in Singapore

2. set reminder for yourself. 1 time per month. go internet banking, pay 3 different bill (even $1 for each bill can do). Done. 5 minutes only every month. Extra 1%. Total 2.05%. Very good already.

With the above 2, you get 2.05% which is about $5 per month if average balance $3000.

It is the 3rd condition which is more troublesome. But not much more troublesome than using other credit cards imo.

The credit card part could be easy as well. I got the new 365 card from OCBC with pay wave feature, pass the card to my wife and she will use it at NTUC for our grocery needs. We spend more than $400 each month on grocery from NTUC so it is no effort from my part. We used to using citibank card but just made a switch.

I find that the 360 account is a perfect way to park part of my emergency fund. Earning a total of 3.05% at near no effort is really very generous of OCBC. I hope this scheme go on forever.

 

[MoDiE]

Now 5.12pm just check it, got money in liao, $3044 after cpf , can go out already later time after work.

wow earn so much...

 

[lrt2014]

The credit card part could be easy as well. I got the new 365 card from OCBC with pay wave feature, pass the card to my wife and she will use it at NTUC for our grocery needs. We spend more than $400 each month on grocery from NTUC so it is no effort from my part. We used to using citibank card but just made a switch.

I find that the 360 account is a perfect way to park part of my emergency fund. Earning a total of 3.05% at near no effort is really very generous of OCBC. I hope this scheme go on forever.

I agree. Highly recommended.

 

[dork32]

wow earn so much...

is that a lot? median salary of sg in 2013 after cpf deduction is 3250.
Income Summary Table

more than half of singaporeans earn more than him.

 

[kenpachi82]

Hi experts here,
Can I confirm whether I can top-up my CPF ($400 or more) using OCBC PLUS! credit card to qualify for the cc spending to get the 1%?

 

[whatsupdawggg]

can the xxx amount of dollars on the 3 bills u pay be included in the criteria for 400$ payment on the credit card?

 

[anfielder]

can the xxx amount of dollars on the 3 bills u pay be included in the criteria for 400$ payment on the credit card?

No.

10chars

 

[Ah boy]

is that a lot? median salary of sg in 2013 after cpf deduction is 3250.
Income Summary Table

more than half of singaporeans earn more than him.

Absolutely right, i hv friend work in IT and ins company drawing 6k above , a friend work as construction manager drawing 10k above, and we do hv a common friend running a successful biz and invites us to become partner saying that u work for ppl how much can earn, the most work like hell get $10k +++ only, dont know how much she earns and nothing can compare.

 

[OCBC Bank]

Hi OCBC,

If I pay other bank credit card bill (around $2000) using OCBC credit card, will this be eligible for the 360 1% bonus rate? Is there any fee charged?

Rgds,

Hi there!

Are you intending to apply for a balance transfer to pay off the other bank's credit card outstanding? If you are, please note that balance transfers are not eligible to earn bonus interests

Please refer here for the common FAQs: 360 Deposit Account FAQ | OCBC Bank

^Shereen

 

[OCBC Bank]

anyone knows if GIRO-IBG slip is finally eligible?

based on last few pages i read, only SAL code accepted but seems that OCBC poster did mention they are working on changing it?

Hi!

In order for us to ascertain that the funds are coming in as salary, the description will have to capture the word "salary" & "giro" in it

^Shereen

 

[kenpachi82]

Hi experts here,
Can I confirm whether I can top-up my CPF ($400 or more) using OCBC PLUS! credit card to qualify for the OCBC CC spending to get the 1%?

Hi OCBC, can you kindly assist with my question? Thank you!

 

[Calander]

Hi OCBC, can you kindly assist with my question? Thank you!

have you tried calling their hotline?