ocbc 360 account

[Perisher]

can u guys speak english?? i m totally lost... @-@

They are actually speaking pretty layman terms already... I didn't hear them talking theories.

Let me help to simplify a little...
Basically, a bond pays a interest and is worth $1000 per lot.
Imagine if it pays you $19 every year on 2 day, june 1st and dec 1st.
You would get $38 every year for the $1000 bond which is 3.8%.

Now this bond's price on the market isn't fixed. You can pay a higher price to get that bond from someone else who want to sell the bond.
So if you buy from that person at $1001, even if the interest you received every year is $38, you lost $1 on that year you bought the bond, thus you got less in terms of % or what people call yield.

So for that year you bought the bond at $1001, you got a 3.7% yield, after that you still get 3.8% every year, so you think it's worth it.

Thing is, bond has maturity... This one matures in 2022, so as it gets closer to 2022, you get less chances to get the $38 annually. What happens? The price of the bond drops.

The above isn't using a real world example, just a simpler way for you to understand bond.

For more details, google, investopedia sure helps.

 

[chopra]

As much as i wan to say...stick to topic,

This is good info and
Shereen, if we want to migrate, we will. We have other means.

 

[pcmdan]

Dont buy endowment plans from insurance just to hit the credit card cap. OCBC 360 and bonus saver promotiom will not be perpetual neither will it last for next 20years (i may be wrong on this).

Endowment usually is a long time committment and the first 10 (approx), u definitely lose money. Even upon mature, there is no guarantee that u will earn back anything despite putting the money for 20 years. The insurance coy is gd at saying..part of it goes to protection which is damn miserable amount pay out from them but the cost of u getting this pathetic amount is high.

 

[pcmdan]

For those asking to park where, easy just open fixed D, promotion also have avg 1.48%. Or can wait for SSB to start avg. 2-3%

Sent from the power of my mind using GAGT

u have to make sure u dunit the money for 10 years to get 2-3%

 

[pcmdan]

I will most likely switch to SC Bonus$aver for the 1.88%. Lesser hoops to jump through. Though I will miss the OCBC banking platform, it's too bad that it just had to be this way.

u lose out on the credit card benefits. SCB bonus saver would be better if it ties it with other credit cards like ocbc rather than a card with 0 benefit

 

[jazzman80]

it's 7th yet interest still pending?

 

[wts2013]

it's 7th yet interest still pending?

it is only 4th working day leh, not calendar day leh, past 2 mths have been early, so wait lor

 

[otaku7]

it's 7th yet interest still pending?

7 working days.

Sent from Sony D6653 using GAGT

 

[Geforce3]

hmm how come my bonus interest for march still not in? Fulfilled all the requirements leh hmm

 

[arctician]

Aiyo e bank wont run away...sometimes early sometimes late abit..inconsequential lah

Not like u that hard up for the 120

 

[otaku7]

wah lau.. 1 or 2 posts before also don't want to read?

Sent from Sony D6653 using GAGT

 

[wts2013]

wah lau.. 1 or 2 posts before also don't want to read?

Sent from Sony D6653 using GAGT

cos pioneer generation ma, hahaha

 

[zoossh]

your post more layman.

They are actually speaking pretty layman terms already... I didn't hear them talking theories.

Let me help to simplify a little...
Basically, a bond pays a interest and is worth $1000 per lot.
Imagine if it pays you $19 every year on 2 day, june 1st and dec 1st.
You would get $38 every year for the $1000 bond which is 3.8%.

Now this bond's price on the market isn't fixed. You can pay a higher price to get that bond from someone else who want to sell the bond.
So if you buy from that person at $1001, even if the interest you received every year is $38, you lost $1 on that year you bought the bond, thus you got less in terms of % or what people call yield.

So for that year you bought the bond at $1001, you got a 3.7% yield, after that you still get 3.8% every year, so you think it's worth it.

Thing is, bond has maturity... This one matures in 2022, so as it gets closer to 2022, you get less chances to get the $38 annually. What happens? The price of the bond drops.

The above isn't using a real world example, just a simpler way for you to understand bond.

For more details, google, investopedia sure helps.

 

[Geforce3]

7 working days.

Sent from Sony D6653 using GAGT

Oops, blur cock

 

[djchris]

u lose out on the credit card benefits. SCB bonus saver would be better if it ties it with other credit cards like ocbc rather than a card with 0 benefit

You say po-tae-to, I say po-ta-to.

I feel that it really depends on the individual. For me, not all my credit card spendings are entitled for 6% rebate and I don't go out of my way to make the entire $500 spend entitled for 6% rebate because that means I will be spending unnecessarily for some purchases.

I only use it to buy what I need to hit the limit needed for the bonus interest rate.

Instead of trying to make that $6 cash rebate, I rather save that $100 cash in my pocket.

 

[zoossh]

You say po-tae-to, I say po-ta-to.

I feel that it really depends on the individual. For me, not all my credit card spendings are entitled for 6% rebate and I don't go out of my way to make the entire $500 spend entitled for 6% rebate because that means I will be spending unnecessarily for some purchases.

I only use it to buy what I need to hit the limit needed for the bonus interest rate.

Instead of trying to make that $6 cash rebate, I rather save that $100 cash in my pocket.

bonus saver got to spend $500. frank got to spend $500.

how do u save $100?

 

[djchris]

bonus saver got to spend $500. frank got to spend $500.

how do u save $100?

You guys were talking about rebates. And we are currently at a period where OCBC 360 only needs $400 spend while Frank card wants $500 spend for rebate eligibility.

Come May when OCBC 360 needs $500, then there's no $100 saving. But for OCBC, it means you need to spend $500 for 0.5% bonus interest while SC Bonus Saver gives you 1.88% for spending $500 on their card.

 

[zoossh]

Come May when OCBC 360 needs $500, then there's no $100 saving. But for OCBC, it means you need to spend $500 for 0.5% bonus interest while SC Bonus Saver gives you 1.88% for spending $500 on their card.

if ocbc accept the salary code, u get 2.05% in total. that will be
1.55% (pa of 25k) + 0.50% (pa of 25k) + 0.5-6% (of 500) + 2.05% (pa of 2nd 25k)

versus scb bs, note 1.55+0.33=1.88
1.55% (pa of 25k) + 0.33% (pa of 25k) + no rebate (of 500) + 0.10% (pa of 2nd 25k)


am i correct?

if ocbc dun accept the salary code, then go esaver and multiplier.

 

[standing]

if ocbc accept the salary code, u get 2.05% in total. that will be
1.55% (of 25k) + 0.50% (of 25k) + 6% (of 500)
2.05% (of 25k) for the 2nd 25k.

versus scb bs, note 1.55+0.33=1.88
1.55% (of 25k) + 0.33% (of 25k) + no rebate (of 500)
0.10% (of 25k) for 2nd 25k base interest.

am i correct?

if ocbc dun accept the salary code, then go esaver and multiplier.

But OCBC CC.. Not everything will return 6% rebate right?

 

[djchris]

if ocbc accept the salary code, u get 2.05% in total. that will be
1.55% (of 25k) + 0.50% (of 25k) + 6% (of 500)
2.05% (of 25k) for the 2nd 25k.

versus scb bs, note 1.55+0.33=1.88
1.55% (of 25k) + 0.33% (of 25k) + no rebate (of 500)
0.10% (of 25k) for 2nd 25k base interest.

am i correct?

if ocbc dun accept the salary code, then go esaver and multiplier.

If your salary code does not work for OCBC 360, it won't work for DBS Multiplier.

Esaver requires even more work and only gives the 1.25% for eligible incremental balance. It requires EVEN more work.