Saw this OCBC promo. Fresh funds of $20k to saving account get $50 reward

[OCBC Bank]

OCBC cheque not consider as fresh fund.
Meaning if u bank in a 20k ocbc cheque into existing saving account also not eligible?

Hi Sumimasen,

“Fresh Funds” refers to (i) funds in the form of non-OCBC cheques/ cashier’s orders/ demand drafts as well as other funds that are not transferred from any existing OCBC Bank accounts, (ii) funds that are not withdrawn and re-deposited with OCBC Bank during the Promotion Period for purposes of qualifying for the Promotion, (iii) funds must be incremental to the Eligible Customer’s overall deposit balances within the last 30 days prior to the date of deposit, and (iv) funds must be incremental to the Eligible Customer’s overall deposit balances for 3 weeks from the date of Eligible Transaction.

OCBC cheques will not be considered fresh funds.

^DG

 

[tankgunner]

Hi there,

Funds will need to be maintained for 6 months from date of deposit or registration, whichever is later.
T&Cs: https://www.ocbc.com/iwov-resources...the ocbc year-end deposits promotion 2021.pdf

^DG

 

[occifer]

6 months

That's 0.5% per year rate....no big deal.

 

[occifer]

Hi, fresh funds are required for the promotion. Funds transferred from existing OCBC account will not be eligible.

“Fresh Funds” refers to (i) funds in the form of non-OCBC cheques/ cashier’s orders/ demand drafts as well as other funds that are not transferred from any existing OCBC Bank accounts, (ii) funds that are not withdrawn and re-deposited with OCBC Bank during the Promotion Period for purposes of qualifying for the Promotion, (iii) funds must be incremental to the Eligible Customer’s overall deposit balances within the last 30 days prior to the date of deposit, and (iv) funds must be incremental to the Eligible Customer’s overall deposit balances for 3 weeks from the date of Eligible Transaction.

^DG

I not gonna bother as I find the return too low.

But wondering. Wat if son transfer 20k from ocbc to son own dbs. Then son dbs transfer to his mom ocbc.

Can work ?

 

[anthonygreenisreal]

Moo Moo gimme one apple share worth USD150 then with just a $2700SGD cash deposit leh. if next time Apple share 1K USD each then shiok.

 

[Coffeelix]

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

Ocbc seems in need of injecting $

 

[blahblahsheep]

6 months and get only $50???? lol.
u put FD 20k locked 6 months, 0.6% also got 120 liao.

 

[betking]

wa $930 in Cash reward

but how much the base interest

0.05?

 

[occifer]

UOB also has an almost similar one.
0.5% FD rate for 10 months, minimum amount is $20K.

But have to open another account which is a hassle.

https://www.uob.com.sg/wealthbanking/banking/save/sg-dollar-fixed-deposit.page

Similar except 10months

 

[OCBC Bank]

@OCBC Bank Pls clarify, OCBC don't allow us to just park money in the account and not use it? Like that means I need to start moving my cash out to other bank liao is it?

Hi Mystyque,

The bank will from time-to-time conduct reviews on the accounts held with us, and may come to a decision to close an account.

These decisions are part of internal business considerations which have gone through rounds of internal review. We will not be able to share the reason for closure.

^DG

 

[princessreiko]

Moo Moo gimme one apple share worth USD150 then with just a $2700SGD cash deposit leh. if next time Apple share 1K USD each then shiok.

Need to open moo moo account to own the apple share.
Can share how is it being done?

 

[eAtNeAt]

Nowadays 0.5% pa is a big deal.

 

[Xeniel]

No feeling for 0.5%pa after seeing Anchor APR

 

[Sumimasen]

6 months is CPF SA = $400 liao

Then put there lor

But cannot take out any time flexibility not there.

 

[PC-User]

The saving accounts normally Interest capped at 75K. No use...

 

[qingyong]

Before covid those salary account easily one month $100+. $50 is a joke

 

[Dokwon]

Take ur 20k..put insai Anchor for 5 measly days. Thank me later

 

[ahnyaahnya]

But cannot take out any time flexibility not there.

I know.
So cannot compare

 

[dilphinus]

Damn pathetic

 

[anthonygreenisreal]

Need to open moo moo account to own the apple share.
Can share how is it being done?

just open account and deposit SGD$2700 and more in, once in click redeem or something and wait for 30 days.