ocbc 360 account

[edwinttt1978]

Please call the CSO to change billing date to match closer to calendar month like 28th. That is easier to track.

They have not effected this. Maybe not so soon.

 

[naro]

Please call the CSO to change billing date to match closer to calendar month like 28th. That is easier to track.

Ocbc can change its credit card statement dates to follow the calendar month, ie, last day of each month.

 

[edwinttt1978]

Ocbc can change its credit card statement dates to follow the calendar month, ie, last day of each month.

OCBC very good hor? Didn't even needed to ask them to do so.

Maybe new customers of UOB One Account & ONE card will automatically be enrolled into the calendar month.

 

[naro]

OCBC very good hor? Didn't even needed to ask them to do so.

Maybe new customers of UOB One Account & ONE card will automatically be enrolled into the calendar month.

its automatic for OCBC Frank credit card.

I had to call in to change for other OCBC credit cards though.

UOB have to call in to change too.

 

[zoossh]

Bill cycle of ONE card does not change.

Therefore, a cycle that starts from 20th April and ends on 19 May would require thorough planning, such as charging minimum
$500 from 20-30 April,
$300 from 1-19 May,
$200 from 20-31 May,
$600 from 1-19 June,
$200 from 20-30 June,
$600 from 1-19 July, etc.
in order to achieve BOTH Bonus Interest of calendar month & $80 quarterly rebate on $800/billing cycle.

A transaction that is not posted on time could throw the entire game off track, leading to castastrophic effect on Bonus Interest and/Quarterly Rebates.

So complicated??? what would mine be?

5/4 - 4/5 current cycle

do the change the interest cycle or make it calender?
5/5 - 4/6 for interest of 5/5 - 4/6 or
5/5 - 4/6 for interest of 1/5 - 31/5? or

or do they change the bill cycle at end may and start jun?
5/5 - 31/5 for interest of 1/5 - 31/5 follow by trend of
1/6 - 31/6 for interest of 1/6 - 31/6?

 

[edwinttt1978]

So complicated??? what would mine be?

5/4 - 4/5 current cycle

do the change the interest cycle or make it calender?
5/5 - 4/6 for interest of 5/5 - 4/6 or
5/5 - 4/6 for interest of 1/5 - 31/5? or

or do they change the bill cycle at end may and start jun?
5/5 - 31/5 for interest of 1/5 - 31/5 follow by trend of
1/6 - 31/6 for interest of 1/6 - 31/6?

Like what was suggested, contact UOB to change card to calender billing, and wait.

 

[mikezuper]

One more day to the new criteria!

 

[wts2013]

One more day to the new criteria!

hahaha, u are late, out liao in the credit card thread

http://forums.hardwarezone.com.sg/c...-ocbc-360-effective-may-1-2015-a-5038724.html

 

[stupid_manu]

Looks good leh

Sent from using GAGT

 

[mikezuper]

hahaha, u are late, out liao in the credit card thread

http://forums.hardwarezone.com.sg/c...-ocbc-360-effective-may-1-2015-a-5038724.html

haha as usual, hwz always faster! and I am wols =P

Thanks bro =D

 

[mikezuper]

Investment, Insurance, Regular Savings or Home Loans - either one of this I am guessing.

Told ya Insurance and Investment will be there:

New OCBC 360 (Effective May 1 2015)
You earn bonus interest on the first S$60,000 of your account balance when you do any or all of these:

1 Earn 1.2% p.a. for crediting your salary of at least S$2,000 through GIRO and/or

2 Earn 0.5% p.a. for paying any 3 unique bills online or through GIRO and/or

3 Earn 0.5% p.a. for spending at least S$500 across your OCBC Credit Cards and/or

4 Earn 1% p.a. for 12 months when you purchase an eligible insurance or investment product

Earn an extra 1% p.a. on incremental account balances

On the months you do less of the above transactions, you will earn less bonus interest.

You will receive this interest by the 7th business day (exclude Saturday, Sunday and Public Holiday) of the following month

Above hot from oven at OCBC website! http://www.ocbc.com.sg/personal-banking/accounts/360-account-faq.html

 

[otaku7]

not bad. without point 4, I still get 2.7% which is very good.

anyone understand the "Earn an extra 1% p.a. on increment account balances"? I suppose it's the end month balances where each month has to be more than previous month?

Sent from Sony D6653 using GAGT

 

[cruxong]

should be max @ 3.25% under new criteria. Max 60k in your 360 account can enjoy up to 3.25%, and the excess will only enjoy base interest of 0.05%.

Get 1.2% p.a. for crediting your salary and/or
Get 1% p.a. for invest in eligible financial product and or
Get 1% p.a. for grow and save their account balance

There is no detail on grow and save account balance.

 

[mikezuper]

not bad. without point 4, I still get 2.7% which is very good.

anyone understand the "Earn an extra 1% p.a. on increment account balances"? I suppose it's the end month balances where each month has to be more than previous month?

Sent from Sony D6653 using GAGT

My guess is average daily balance at the end of the month.

 

[f0r3v3r]

I used the calculator and extra 1% p.a. on incremental account balances is based on how much your account grows monthly. Eg. if your opening balance is 20k and by end of month it is 21k, the payout is $0.84 based on 1k

 

[magnesium1]

My guess is average daily balance at the end of the month.

My guess it is not. Because they said 1% on increment account balance, it's more likely the difference of average balance of two months will be awarded 1%.

If avg balance for May is 50,000 and Jun is 52,000, my guess they will give 1% for the 2,000 only.

Sent from research lab using GAGT

 

[zoossh]

My guess is average daily balance at the end of the month.

I used the calculator and extra 1% p.a. on incremental account balances is based on how much your account grows monthly. Eg. if your opening balance is 20k and by end of month it is 21k, the payout is $0.84 based on 1k

think ocbc fail to illustrate this clearly on the primary page and faq page. u got to dig until the tnc pdf to confirm it is based on adb which averages daily over the entire month.

to my limited knowledge, only cimb uses end of the month balance, correct me if i am wrong.

 

[Ronaldo88]

Looks like my achievable 2.2% plus peanuts on incremental balance..

 

[ckling]

like tat can transfer money from cimb to ocbc liao right?

 

[mikezuper]

My guess it is not. Because they said 1% on increment account balance, it's more likely the difference of average balance of two months will be awarded 1%.

If avg balance for May is 50,000 and Jun is 52,000, my guess they will give 1% for the 2,000 only.

Sent from research lab using GAGT

Ah, good one - I think this is more likely.