ocbc 360 account

[zoossh]

Like that 360 better...

Thanks.

previously dbs offers more for salary crediting.
>10k,12.5k,15k,20k can get 1.28, 1.48, 1.68, 2.08%

1.28 will lose out to maybank, scb
1.48 will lose out to uob hya

with the new 360, if u had 1salary and 2account, u can hit 2.65%. even a no-cc spending can hit 2.15%, which wins dbs regardless of income.

but the old 360 is still better, can get 2.05*50k + 2.05*50k with no salary, instead of now 2.15*60k.

 

[Keverus]

Ocbc should change salary credit to ocbc is 0.5%.
Spend $500 get 1%.

Also many people still credit to ocbc

not likely, because all the banks want us to credit our salaries to them.

 

[VictorvonDoom]

previously dbs offers more for salary crediting.
>10k,12.5k,15k,20k can get 1.28, 1.48, 1.68, 2.08%

1.28 will lose out to maybank, scb
1.48 will lose out to uob hya

with the new 360, if u had 1salary and 2account, u can hit 2.75%. even a no-cc spending can hit 2.15%, which wins dbs regardless of income.

but the old 360 is still better, can get 2.05*50k + 2.05*50k with no salary, instead of now 2.15*60k.

How do you get 2.75% and 2.15% ??? Don't quite add up for me..

 

[zoossh]

pai seh wrong calculation should be 2.65

How do you get 2.75% and 2.15% ??? Don't quite add up for me..

1.20 salary (account a) aka 0.6 over each month
1.00 cc spend + 3 giro (account a, b)
0.05 base interest (account a, b)
1.00 incremental sum (account a, b)

if you alternate and empty each account every other month, u can get the 1%.

3.25 (account a) in a month, with salary
2.05 (account b) in another month (salary still goes to a)
average = 2.65.

do the same for no-cc. 2.75+1.55/2.

but i haven calculate when they enforce the min sum of 3k after first year over. but rough mental sum is 3k/60k lost ie 5% gone. still about 2.6/2.1 thereabout bah.

 

[Trazora]

1.20 salary (account a)
1.00 cc spend + 3 giro (account a, b)
0.05 base interest (account a, b)
1.00 incremental sum (account a, b)

if you alternate and empty each account every other month, u can get the 1%.

3.25 (account a) in a month, with salary
2.05 (account b) in another month (salary still goes to a)
average = 2.75.

do the same for no-cc. 2.75+1.55/2.

but i haven calculate when they enforce the min sum of 3k after first year over. but rough mental sum is 3k/60k lost ie 5% gone. still about 2.6/2.1 thereabout bah.

average of 3.25 and 2.05 should be 2.65?

 

[zoossh]

average of 3.25 and 2.05 should be 2.65?

yes, corrected

 

[mdax23]

So how many of u have combo this with the scb esaver?

Wondered what will the esaver rate be in jun 15

 

[whiteil]

Do salaries credited via Standing Instructions from personal accounts (e.g. DBS Savings etc) qualify for the Salary Bonus?

 

[Trazora]

Do salaries credited via Standing Instructions from personal accounts (e.g. DBS Savings etc) qualify for the Salary Bonus?

From the OCBC 360 website:
"Only salary credit through GIRO with the transaction description "GIRO - SALARY" in your statements will qualify for this bonus."

 

[whiteil]

From the OCBC 360 website:
"Only salary credit through GIRO with the transaction description "GIRO - SALARY" in your statements will qualify for this bonus."

Yes, I saw. Just wondering if there is a way around for people like me whose company doesn't GIRO to OCBC.

If not, can any OCBC reps who see this feedback to the team to allow such transactions? Afterall, it's money coming in, right?

 

[Trazora]

Hi Tornesoul

If companies employ GIRO to credit their employee salaries, the normal description will appear as "GIRO Salary". There are other variations, but the word GIRO will usually appear.

It's best to check directly with your HR department, if they are crediting your pay by any other means. To earn the bonus interest, only salaries credited by GIRO will be eligible.

^Shereen

This is the post from OCBC that answers your query

 

[radzkal]

guys, my salary is above 2k but the salary credit bonus is always less than $10. is this normal? assuming my salary is 2000, how do i calculate? i do transfer about half of my salary to another account for expenditure.

 

[Trazora]

guys, my salary is above 2k but the salary credit bonus is always less than $10. is this normal? assuming my salary is 2000, how do i calculate? i do transfer about half of my salary to another account for expenditure.

bonus from salary credit = 1.2%/12months*(average daily balance for the month)
= 0.1%*(average daily balance for the month)

I think you have less than $10,000 in your bank, so bonus less than $10.

 

[radzkal]

actually i have more than $10,000 saved in the account but thanks for the clarification.

i was under the assumption that it will be directly 0.01* balance in bank.

 

[Yo2020]

actually i have more than $10,000 saved in the account but thanks for the clarification.

i was under the assumption that it will be directly 0.01* balance in bank.

1.2% only started this mth. all along is 1%, so per mth is 1/12%...
which means u hv less than 12k!!

 

[hwmook]

actually i have more than $10,000 saved in the account but thanks for the clarification.

i was under the assumption that it will be directly 0.01* balance in bank.

Your mates fail, it's 1% PA not per month...divide by 12.

 

[hogrider88]

Your mates fail, it's 1% PA not per month...divide by 12.

Your english fail.. Its maths not mates . wakaka

 

[Yo2020]

Your english fail.. Its maths not mates . wakaka

"failed", "It's", ...

 

[Carnesir]

Interest in yet? Not for me so far...

 

[more3cm]

Interest in yet? Not for me so far...

Haven't reached 7th working day