ocbc 360 account

SantyBalls

Banned
Joined
Dec 25, 2022
Messages
5,587
Reaction score
2,294
🤦If the bank cannot survive this outflow, I'll be more worried about banking with such a bank VS over a single influencer. No single media release or person should be able to trigger a bank run, especially if it's only due to rate changes.
Anything that can threaten our financial stability are all lim kopis. Years ago mothershit or something post an article about dbs/posb bank acct imposing atm charges, asking ppl to faster withdraw and boycott dbs. So fast have correction notice say thats for foreigner acct only.
 

sglandscape

Supremacy Member
Joined
Jan 30, 2023
Messages
6,196
Reaction score
2,984
Anything that can threaten our financial stability are all lim kopis. Years ago mothershit or something post an article about dbs/posb bank acct imposing atm charges, asking ppl to faster withdraw and boycott dbs. So fast have correction notice say thats for foreigner acct only.
In this scenario, the ATMs would have run out of cash before it would trigger a bank run. What threaten financial stability tend to be massive hysteria typically due to lack of confidence of the financial institution, and the fear of losing the deposit entirely, due to the first come first serve nature of getting your cash out. Fake news of those nature comfirm lim kopi.

If every person who will withdraw to express unhappiness, many others would not bother and be happy to pay a fee to use the ATM (if they even make use of it).
 

Mickey01

Senior Member
Joined
Mar 5, 2017
Messages
1,589
Reaction score
676
🤦If the bank cannot survive this outflow, I'll be more worried about banking with such a bank VS over a single influencer. No single media release or person should be able to trigger a bank run, especially if it's only due to rate changes.
before it can even trigger a run on any of one of these 7, any negative rumours have to be stopped immediately. You missed the point on "7 domestic systematically important banks in Singapore" versus any other banks in Singapore.
 

jasperchc

Member
Joined
Apr 19, 2009
Messages
250
Reaction score
17
Guys, i did calculation below (Don't shoot if wrong ah). Will UOB also revise the rates later?

OCBC 360 ($100K May 2025)
Salary First $75k (1.6%) = $1200
Salary Next $25k (3.2%) = $800
Save First $75k (0.6%) = $450
Save Next $25k (1.2%) = $300
Spend (0.5%) = $500
Total = $3250
Monthly $3250 / 12 = $270.83

If include Grow $250k (2.2% base on $100k?) = $2200
Monthly $2200 / 12 = $183.33


UOB One (Spend and Salary $150k)
First $75k (3.0%) = $2250
First $50k (4.5%) = $2250
First $25k (6.0%) = $1500
Total = $6000
Monthly $6000 / 12 = $500
 

reddevil0728

Great Supremacy Member
Joined
Dec 16, 2005
Messages
66,358
Reaction score
5,895
Guys, i did calculation below (Don't shoot if wrong ah). Will UOB also revise the rates later?

OCBC 360 ($100K May 2025)
Salary First $75k (1.6%) = $1200
Salary Next $25k (3.2%) = $800
Save First $75k (0.6%) = $450
Save Next $25k (1.2%) = $300
Spend (0.5%) = $500
Total = $3250
Monthly $3250 / 12 = $270.83

If include Grow $250k (2.2% base on $100k?) = $2200
Monthly $2200 / 12 = $183.33


UOB One (Spend and Salary $150k)
First $75k (3.0%) = $2250
First $50k (4.5%) = $2250
First $25k (6.0%) = $1500
Total = $6000
Monthly $6000 / 12 = $500
Still got time for uob to revise effective 1 May
 

sglandscape

Supremacy Member
Joined
Jan 30, 2023
Messages
6,196
Reaction score
2,984
Teach lei haha
Insurance if you have capital can consider do the SavvyEndowment, min 5k will count for 12 months (from next month of purchase onwards). If not can buy a CI plan for under 10 per month if you're young.

Invest can buy the Nikko Fund, min 1 buck each month.

The rest should be easy. To get the amount required to unlock the highest tier, you read faq closely, should have hint on how to clock it, be it in a single transaction or multiple one.
 

nasilemak100

High Supremacy Member
Joined
Feb 22, 2013
Messages
45,743
Reaction score
9,176
Any alternatives for OCBC360?
I have UOB One already

boc smartsaver....

simply credit salary is already 2.9% (with 100k deposit).

more than ocbc 360 if u can only meet credit salary + $500 incremental


but dunno if boc will drop rate soon bo
 

Cumzilla

Master Member
Joined
Oct 28, 2002
Messages
3,374
Reaction score
217
boc smartsaver....

simply credit salary is already 2.9% (with 100k deposit).

more than ocbc 360 if u can only meet credit salary + $500 incremental


but dunno if boc will drop rate soon bo
BOC based on history is usually last to drop but also the slowest to raise...
 

maumu

Arch-Supremacy Member
Joined
Jun 22, 2000
Messages
11,891
Reaction score
2,815
indeed, the last round of cuts, BOC was the last to cut. I went to open when the others all cut and BOC didn't cut yet. within a month or two, BOC cut. then I had to cancel the account.

lol. lesson is don't rush to open new accounts. eventually all will drop one. haiz.
 

vsvs24

Arch-Supremacy Member
Joined
Feb 3, 2018
Messages
11,383
Reaction score
3,735
Probably many flock to BOC and they see so many new accounts so had to cut as it is not sustainable.
 

iduncheckmail

Supremacy Member
Joined
Nov 24, 2002
Messages
6,834
Reaction score
3,438
Probably many flock to BOC and they see so many new accounts so had to cut as it is not sustainable.


banks adjust rates based on what they can make on your deposits on a risk adjusted basis.
if they can payout 3% , they'll ber sure to be able to make >3%.

u think the interest rate they payout is fixed pool of funds ??? :rolleyes:
 
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ Forums. Forum members and moderators are responsible for their own posts. Please refer to our Community Guidelines and Standards and Terms and Conditions for more information.
Top