ocbc 360 account

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wts2013

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saintgtril said:
Hi wts2013 and all, does that mean to say
  1. it is not worth emptying Account A (to transfer to Account B) for the "incremental balance interest" if one is entitled to the salary interest?
  2. if the above is true, is there any other mean to earn the "incremental balance interest" for people whom are entitled to the salary interest?

For (2), i think if one has 60K in the account, it does not make financial sense to have a balance of more than 60K just to earn the "incremental balance interest".

I appreciate any comments, thoughts ... :D
Click to expand...

If u have salary and earning 2.25% on 360, 2x2.25=4.5% (2mths). If u empty a/c to earn 3.25% (1% increment), then u have to earn more than 1.25% for the alternate mth (4.5%-3.25%), otherwise bo hua.

If u can open a second 360 (joint a/c), spend 500 cc and pay 3 bills, then u can earn 2.05%, can consider. U need another ocbc cc for this joint a/c principal holder.

Pay 3 bills using ibanking, no need to setup giro too troublesome.

If your 360 a/c is less than 1 year old, no minimum sum, otherwise make sure u always keep 3k in the a/c or at least 3 dollars for the fall below fee as the a/c cannot go -ve to earn the incremental bonus interest.
 
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VictorvonDoom

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Anyone knows roughly how long it takes for interbank payments for credit card takes?

If I make the payment today and it clears like 3 days later, will it be considered payment today or 3 days later? Should be 3 days later right?
 
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wts2013

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cheery said:
Bonus jib or no jib lai..... recent months no excitement. haha LOL..

Transferred part of the cash out to CIMB Starsaver liao. haha.... no need much work.
Click to expand...

hahaha, we create our own exciting/interesting life, moi can earn 1.25% more than your cimb with little effort, so exciting, hahaha, and next mth can earn 2.35% with no effort required, more exciting, hahaha
 
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oceanicmanta

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Question: if last month ADB is $0 & this month ADB is $70k
effectively only first $60k incremental ADB will earn 2.05% rite (CC + Bill + Savings bonus interest) ? the remaining $10k earns 1% Savings bonus.
 
more3cm

more3cm

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oceanicmanta said:
Question: if last month ADB is $0 & this month ADB is $70k
effectively only first $60k incremental ADB will earn 2.05% rite (CC + Bill + Savings bonus interest) ? the remaining $10k earns 1% Savings bonus.
Click to expand...

yup. very clear from OCBC's diagram. The excess 10k earns 1.05% though there are other better places to park
 
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edwinttt1978

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oceanicmanta said:
Question: if last month ADB is $0 & this month ADB is $70k
effectively only first $60k incremental ADB will earn 2.05% rite (CC + Bill + Savings bonus interest) ? the remaining $10k earns 1% Savings bonus.
Click to expand...

The incremental balance is $70k and the entire $70k earns 1.00% p.a.

Using OCBC360 Account Interest calculator, this works out to be $59.45.
 
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