ocbc 360 account

[shadow84]

If im gonna charge $750/mth to my ocbc 365 every month for investment policy, does it count towards the $500/mth spending and i qualify for 0.5% interest?

 

[hyperbole]

If im gonna charge $750/mth to my ocbc 365 every month for investment policy, does it count towards the $500/mth spending and i qualify for 0.5% interest?

Yes qualifies

 

[thesoftwarekid]

Why got 6000? You mean 7000 right?

Not like this meh? ADB = $7000 with increment of $2000. So $2000 will earn extra 1% while the rest at those bonus rate that is unlocked.

Salary Bonus 7000 X 1%/12
Bills Bonus 7000 X 0.5/12

Increment Bonus 2000 X 1%/12

Base interest 7000 X 0.05%/12

yes yes my mistake.. hahah sorry

 

[thesoftwarekid]

yes yes my mistake.. hahah sorry

https://docs.google.com/spreadsheets/d/1Ng9DAaVgEfe9oShDDZYTAROso_l3G18iRx5ylIzWtdI/edit?usp=sharing


This is a spreadsheet i did to help monitor, the blue color portion are places that are to be entered manually with figures. So far so good, been using it for a few months and quite accurate, except for 1-2 cents discrepancies due to rounding

 

[zoossh]

Your example does not answer my query leh.

Say, last month my ADB is $5000. For this month I deposit $1000 more at the start of the month. How much interest would this extra $1000 earn? 1% only or more?

6k x 30/365 x 0.05% (base int; given out end of mth)
6k x 30/365 x 1.70% (sal+giro int; given out mid next mth)
1k x 30/365 x 1.00% (incre int; given out mid next mth)

 

[zoossh]

Alright, thanks. But the calculator on their web seems to say other wise

This account I just created so pardon another question. This month I pay bills, the 0.5% interest will be unlocked on this month or next month?

this mth.

fulfil criteria by end of sep,
interest applies backwards for sep
interest given out in early-mid oct

 

[laurent_rio]

Hi may i ask, there is some discrepancy in my bonus interest

i open account lat month

my end balance for month Aug is : 60,343.74
average daily balance : 17,562.24

but why i only get

Salary Bonus (i transfer salary > 2000) : 17.89$ --> from web calculator S$61.15
Payment Bonus (i made 3 payment) : 7.45$ --> from web calculator S$25.47

For the Save bonus it is match with the calculator (i get the daily average balance from e-statement)

Is the bonus calculated based on end of month balance or average balance ?

Can anybody advice before i make phone call to OCBC ?

Thanks

 

[wts2013]

Hi may i ask, there is some discrepancy in my bonus interest

i open account lat month

my balance for month Aug is : 60,343.74

but why i only get

Salary Bonus (i transfer salary > 2000) : 17.89$ --> from web calculator S$61.15
Payment Bonus (i made 3 payment) : 7.45$ --> from web calculator S$25.47

For the Save bonus it is match with the calculator (i get the daily average balance from e-statement)

Is the bonus less because i open account in the mid of year (i dont think its matter for interest calculation )
Can anybody advice before i make phone call to OCBC ?

Thanks

hahaha, when did u open a/c, when did u deposit the 60k, calculate based on number of days in the mths lor, hahaha

 

[dork32]

Hi may i ask, there is some discrepancy in my bonus interest

i open account lat month

my balance for month Aug is : 60,343.74

but why i only get

Salary Bonus (i transfer salary > 2000) : 17.89$ --> from web calculator S$61.15
Payment Bonus (i made 3 payment) : 7.45$ --> from web calculator S$25.47

For the Save bonus it is match with the calculator (i get the daily average balance from e-statement)

Is the bonus less because i open account in the mid of year (i dont think its matter for interest calculation )
Can anybody advice before i make phone call to OCBC ?

Thanks

where got wrong? maybe your calculator lousy brand lah

$17.89/$7.45 = 2.401342
1.2%/0.5% = 2.40

if spend is correct, then salary is correct

0.001342 is probably a rounding error lah.

 

[thesoftwarekid]

where got wrong? maybe your calculator lousy brand lah

$17.89/$7.45 = 2.401342
1.2%/0.5% = 2.40

if spend is correct, then salary is correct

0.001342 is probably a rounding error lah.

You can try my excel and see..... best if you check your estatement on the details, deposit on sundays or after certain timing via FAST is treated as next day. You just open your account last month? I think u only deposit more money towards the end of the month, if not your monthly average will be much higher. The interested is computed daily. Comparing my excel and the actual bonus added, mine is more or less there, a few cents difference

https://docs.google.com/spreadsheets/d/1Ng9DAaVgEfe9oShDDZYTAROso_l3G18iRx5ylIzWtdI/edit?usp=sharing

 

[deathman91]

Hi may i ask, there is some discrepancy in my bonus interest

i open account lat month

my end balance for month Aug is : 60,343.74
average daily balance : 17,562.24

but why i only get

Salary Bonus (i transfer salary > 2000) : 17.89$ --> from web calculator S$61.15
Payment Bonus (i made 3 payment) : 7.45$ --> from web calculator S$25.47

For the Save bonus it is match with the calculator (i get the daily average balance from e-statement)

Is the bonus calculated based on end of month balance or average balance ?

Can anybody advice before i make phone call to OCBC ?

Thanks

Of cos daily average balance la... if end amount everyone just top up on the last day of mth already

Take ADB * interest * day in mth/365 you will get what they gave u

 

[laurent_rio]

You can try my excel and see..... best if you check your estatement on the details, deposit on sundays or after certain timing via FAST is treated as next day. You just open your account last month? I think u only deposit more money towards the end of the month, if not your monthly average will be much higher. The interested is computed daily. Comparing my excel and the actual bonus added, mine is more or less there, a few cents difference

https://docs.google.com/spreadsheets/d/1Ng9DAaVgEfe9oShDDZYTAROso_l3G18iRx5ylIzWtdI/edit?usp=sharing

already ask you for the access of spreadsheet

 

[thesoftwarekid]

already ask you for the access of spreadsheet

Hi, i had created a spreedsheet for u and made you the owner, you can remove my access from there, please kindly feedback if there any areas not right.

 

[deathman91]

I'm puzzled, there's no bonus 1% interest since this account is new and thus everything is consider fresh Fund?

 

[wts2013]

I'm puzzled, there's no bonus 1% interest since this account is new and thus everything is consider fresh Fund?

hahaha, what chiu reading hah, ts said got save bonus leh, hahaha

 

[deathman91]

hahaha, what chiu reading hah, ts said got save bonus leh, hahaha

Ohh hehe my eyes selective read on numbers only

 

[thesoftwarekid]

Ohh hehe my eyes selective read on numbers only

fresh funds eligible for save bonus....

 

[thriller-sama]

how to stop the auto ez link top up ah? i wanna stop for next month. change to posb everyday as ez link card sua

 

[hyperbole]

how to stop the auto ez link top up ah? i wanna stop for next month. change to posb everyday as ez link card sua

are you referring to flashpay? just don't use it?

 

[ykeen]

how to stop the auto ez link top up ah? i wanna stop for next month. change to posb everyday as ez link card sua

Go to inets kiosk to disable the flashpay atu.

https://www.nets.com.sg/atu-bank-faq

Or go to transit link office at MRT stations if you are talking about EZlink.