OCBC Statement Savings Account

[ericcsn]

Opening this thread given the interest for its recurring 88 promo, so off you go.

 

[Sausage]

I was in the statement 88 for the earlier cycle and it's supposed to end today. will the money you submitted be automatically returned to your account? because it still hasn't.

immediately after it is returned, you can transfer out safely and still get the interest later in Feb 2026 right?


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[ericcsn]

I was in the statement 88 for the earlier cycle and it's supposed to end today. will the money you submitted be automatically returned to your account? because it still hasn't.

immediately after it is returned, you can transfer out safely and still get the interest later in Feb 2026 right?


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Yes, it is quite prompt in settling at least in my case (previously). Keep a look out for it in the evening when it matures.

Transfer can be done immediately without worries and the interest will be paid later.

 

[luvpraline]

Yes, it is quite prompt in settling at least in my case (previously). Keep a look out for it in the evening when it matures.

Transfer can be done immediately without worries and the interest will be paid later.

May I check usually how many days later is the interest credited? Am looking at enrolling in the current new 88 day promo and it says interest will be credited by 31 May.

If I withdraw the entire sum at the end of my cycle and leave the a/c at 0, will they still credit the interest but deduct fall below fee? Thanks!

 

[ericcsn]

May I check usually how many days later is the interest credited? Am looking at enrolling in the current new 88 day promo and it says interest will be credited by 31 May.

If I withdraw the entire sum at the end of my cycle and leave the a/c at 0, will they still credit the interest but deduct fall below fee? Thanks!

I looked at my records; here are 2 of them:

a) 7th Apr 2025 enrolled. Principal was returned on 4th Jul 2025 (exactly 88 days later). Interest was paid on 29 Aug 2025 (144 days from date of enrollment).

b) 12 Apr 2025 enrolled. Principal was returned on 9th Jul 2025 (again exactly 88 days later). Interest was paid on 29 Aug 2025 (139 days from date of enrollment).

Looks like interest dates for the same tranche (off a given period) coincided at a same fixed date.

In my case, I have at least 3 accounts - statement savings account (and 2 x monthly saving accounts (1 joint)) - at $0.
No fall below fees for them -yet. (statement saving account coming to its first year).

I do have an ocbc 360 account but am not a premier customer.

 

[~sabaisabai~]

I looked at my records; here are 2 of them:

a) 7th Apr 2025 enrolled. Principal was returned on 4th Jul 2025 (exactly 88 days later). Interest was paid on 29 Aug 2025 (144 days from date of enrollment).

b) 12 Apr 2025 enrolled. Principal was returned on 9th Jul 2025 (again exactly 88 days later). Interest was paid on 29 Aug 2025 (139 days from date of enrollment).

Looks like interest dates for the same tranche (off a given period) coincided at a same fixed date.

In my case, I have at least 3 accounts - statement savings account (and 2 x monthly saving accounts (1 joint)) - at $0.
No fall below fees for them -yet. (statement saving account coming to its first year).

I do have an ocbc 360 account but am not a premier customer.

Any fall below fee for statement saving account?

 

[reddevil0728]

Any fall below fee for statement saving account?

check website lor?

https://www.ocbc.com/personal-banking/deposits/statement-passbook-savings-account

 

[Arandalo]

When you top up say $50k on 5 Jan, go in immediately to register on the day itself. The 88 days starts from the date of registration.

So you do multiple registrations each time you deposit into the account with min amount of $50k.

the maturity ie return of your funds will also be separate at the end of each 88 days.

finally move funds from a non Ocbc account to this eligible Ocbc account. (Don’t move money from non Ocbc account to any existing but ineligible Ocbc account (say Ocbc 360 account) and do an internal transfer to it.)

Suppose I have $300 k intended to earmark, will it be better to split it up across 3 multiple registrations of $100 k each across 3 different days so that when the earmark is released, it is easier to transfer out the funds to other banks due to OCBC daily FAST limit of $100 k (maximum) for personal banking?

Is there a maximum limit on the amount of registrations for the promotion? I have read through the 2 terms and conditions PDFs but neither of it explicitly state whether multiple registrations are accepted for the same OCBC account and whether there is a limit imposed. Appreciate if you could share your expertise.

 

[ericcsn]

Suppose I have $300 k intended to earmark, will it be better to split it up across 3 multiple registrations of $100 k each across 3 different days so that when the earmark is released, it is easier to transfer out the funds to other banks due to OCBC daily FAST limit of $100 k (maximum) for personal banking?

Is there a maximum limit on the amount of registrations for the promotion? I have read through the 2 terms and conditions PDFs but neither of it explicitly state whether multiple registrations are accepted for the same OCBC account and whether there is a limit imposed. Appreciate if you could share your expertise.

If I were you, I will just earmark at one go (assuming you want to go with this banking product) rather than do piecewise.

I did fudged the transactions once and I had to deal with amount of this order (see link below).

https://forums.hardwarezone.com.sg/threads/lastest-s-deposit-updates-part-3.5575909/post-155922179

So FAST limit was $100k daily but I found that PAYNOW had a separate limit ($200K?), so I used both of them to gain a total daily limit of $200K. (There was some followup discussions whether the limit was even higher to $300K but I didn't test it beyond $200K then).

Of course, now u also have to content with the MAS measure where banks may hold or reject transfers from accounts with balances of at least S$50,000 (US$38,800) when withdrawals over 24 hours amount to more than half of the total funds.

 

[luvpraline]

I looked at my records; here are 2 of them:

a) 7th Apr 2025 enrolled. Principal was returned on 4th Jul 2025 (exactly 88 days later). Interest was paid on 29 Aug 2025 (144 days from date of enrollment).

b) 12 Apr 2025 enrolled. Principal was returned on 9th Jul 2025 (again exactly 88 days later). Interest was paid on 29 Aug 2025 (139 days from date of enrollment).

Looks like interest dates for the same tranche (off a given period) coincided at a same fixed date.

In my case, I have at least 3 accounts - statement savings account (and 2 x monthly saving accounts (1 joint)) - at $0.
No fall below fees for them -yet. (statement saving account coming to its first year).

I do have an ocbc 360 account but am not a premier customer.

Thank you for checking! Was 29 Aug 2025 the date they stated in the promo that interest would be credited by?

 

[luvpraline]

Guys, this part of the T&C:

The fresh funds must be incremental to the Eligible Customer’s overall deposit balances for 88 days from the date of Eligible Transaction.

What if I have a joint 360 account and the balance in that fluctuates? Sometimes it's lower than the previous month. Does it mean that OCBC will not pay the 88 day promo interest?

 

[ericcsn]

Thank you for checking! Was 29 Aug 2025 the date they stated in the promo that interest would be credited by?

Here is the tnc on mine which is still available https://www.ocbc.com/iwov-resources...cbc-deposits-sgd-top-ups-campaign-mar25v2.pdf
In it, the returning date was by 31 Aug 25 (Monday) . So mine were returned 2 days earlier than this date.

You can also compare this tnc with latest tnc and see whether terms have remained the same.

 

[digipet]

An “Eligible Transaction” refers to the deposit of Fresh Funds (as defined below) of at least S$50,000 and up to a maximum of S$3,000,000 into an Eligible Account and agreement of the Eligible Customer for OCBC to withhold the funds deposited for a specific period determined by OCBC (“Earmark Period”). The amount of Fresh Funds deposit must also result in a corresponding increase of at least S$50,000 when compared against the total balances of all other OCBC current and/or savings accounts as of 30 days prior to the date of deposit.

Date doesn't need to on 31 Jan, any date within the validity dates will do (i recalled 88 days were against the date of enrollment of the deposit)

I used the Statement Savings Account for this purpose.

First para, last sentence using their own 50k example writes 'The amount of Fresh Funds deposit must also result in a corresponding increase of at least S$50,000 when compared against the total balances of all other OCBC current and/or savings accounts as of 30 days prior to the date of deposit.'

Assuming i put in 100k fresh funds into a eligible account but i had also used this account to pay for insurance/bills within 30 days prior eg used 2k.
so i would fail the criteria of corresponding increase of at least 100k against total balances since I also used prior existing funds to pay my 2k bills in the last 30 days? so i've need to transfer 102k to makeup for the 2k deficit in total account balance snapshot difference is it?

called the cso but didn't get clarity and they mention we have to manually calculated ourselves prior.

anyone knows how it work for my above query?

 

[ericcsn]

Guys, this part of the T&C:


What if I have a joint 360 account and the balance in that fluctuates? Sometimes it's lower than the previous month. Does it mean that OCBC will not pay the 88 day promo interest?

I was told then that the subsequent fluctuations do not affect those deposits that are already earmarked.

 

[ericcsn]

First para, last sentence using their own 50k example writes 'The amount of Fresh Funds deposit must also result in a corresponding increase of at least S$50,000 when compared against the total balances of all other OCBC current and/or savings accounts as of 30 days prior to the date of deposit.'

Assuming i put in 100k fresh funds into a eligible account but i had also used this account to pay for insurance/bills within 30 days prior eg used 2k.
so i would fail the criteria of corresponding increase of at least 100k against total balances since I also used prior existing funds to pay my 2k bills in the last 30 days? so i've need to transfer 102k to makeup for the 2k deficit in total account balance snapshot difference is it?

called the cso but didn't get clarity and they mention we have to manually calculated ourselves prior.

anyone knows how it work for my above query?

Yes, has to be $102k. Make sure it comes straight from a non Ocbc account into the statement saving account. Once your $100k fund has been safely earmarked, u can remove the $2k which otherwise is squatting there doing nothing

 

[luvpraline]

I was told then that the subsequent fluctuations do not affect those deposits that are already earmarked.

I just called and CSO told me MIGHT affect the bonus interest if balance in my 360 account drops below previous month. But she seemed unsure and told me she can do a check for me but need to wait a few days for a confirmed answer. Meanwhile, the amount I transferred in for the 88 days promo has to sit in there waiting for their answer...

 

[ericcsn]

I just called and CSO told me MIGHT affect the bonus interest if balance in my 360 account drops below previous month. But she seemed unsure and told me she can do a check for me but need to wait a few days for a confirmed answer. Meanwhile, the amount I transferred in for the 88 days promo has to sit in there waiting for their answer...

has always been the case left hand doesn’t know what right hand is doing. Everytime.

So in my case, when the first one matured, I removed it. So now my total balance is less because I have just withdrew the first deposit. I still had my second and third deposits earmarked on it. They were not affected by this withdrawal.

 

[luvpraline]

has always been the case left hand doesn’t know what right hand is doing. Everytime.

Exactly. In your previous enrolment, did you have a decrease in balance in your other accounts (not enrolled for the promo) and did they still pay you the 88 day promo interest?

 

[ericcsn]

Exactly. In your previous enrolment, did you have a decrease in balance in your other accounts (not enrolled for the promo) and did they still pay you the 88 day promo interest?

Yes. Because the moment they matured, I removed them (which then reduced the total AUM with ocbc) to go to other banks. I got all my interests for them

 

[luvpraline]

Yes. Because the moment they matured, I removed them (which then reduced the total AUM with ocbc) to go to other banks. I got all my interests for them

I meant did you have a decrease in balance in your other OCBC accounts during the 88 day earmark period? For eg, if your earmark period was Jan to Apr, and the balance in your other OCBC account was $2000 for Jan, then dropped to $1000 for Feb?