OCBC Fixed deposit Acc

[Kachidoki]

Is it good and how it works? Want to hear your views

 

[dork32]

Is it good and how it works? Want to hear your views

it is the same as other fd, except the interest rate is usually lower.

i have an fd with ocbc. only 0.98%. but i need to put in this fd so that i can get a secured credit card for my wife. this is for the ocbc360 account.

 

[spiritGate]

Well, have to define the word good. For me I think is good is because of the risk free, so you do not need to worry that your money will gone after a certain period of time.

So how it work is that, you will have to deposit a sum of money in OCBC and that amount of money, you wont be able to get until it mature. Let's say the current ongoing promotion which is deposit for a year to get 1.3% interest p.a, So in order to get that interest, you will need to put let say $5000 in the FD and you will not be able to get it until one year later.

If you have spare money for FD, then go ahead

 

[simon_84]

interest rates from local banks not attractive enough...

 

[limster]

it is the same as other fd, except the interest rate is usually lower.

i have an fd with ocbc. only 0.98%. but i need to put in this fd so that i can get a secured credit card for my wife. this is for the ocbc360 account.

Why you never give your wife supplementary card?

 

[dork32]

interest rates from local banks not attractive enough...

actually uob was giving 1.5% for 6 months. i did place some. Every now and then you have to keep your eyes open for the best deal.

 

[dork32]

Why you never give your wife supplementary card?

my wife also have 0cbc360 account. she needs a credit card for the second 1% interest.

i did gave a supp card. she gave me a supp card too.

 

[Kachidoki]

Well, have to define the word good. For me I think is good is because of the risk free, so you do not need to worry that your money will gone after a certain period of time.

So how it work is that, you will have to deposit a sum of money in OCBC and that amount of money, you wont be able to get until it mature. Let's say the current ongoing promotion which is deposit for a year to get 1.3% interest p.a, So in order to get that interest, you will need to put let say $5000 in the FD and you will not be able to get it until one year later.

If you have spare money for FD, then go ahead

Just that i find the duration quite long