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Details
Minimum initial deposit of $1,000
Minimum average daily balance of $3,000 ($2 fall below fee is
waived for first year)
Comes with Singapore's first Online Banking tool, Money In$ights
to help manage your budget, track your savings and categorise your
expenditure
Make interbank transfers instantly with FAST - an industry wide
service which allows for instant fund transfers between banks
360 Account comes with a YES! Debit Card
Interest Computation
| Base Interest |
0.05% p.a. |
| Credit Salary |
1.20% p.a. |
| Insure or Invest |
1.20% p.a. |
| Pay 3 Bills |
0.30% p.a. |
| Credit Cards Spend |
0.30% p.a. |
| Total (Max. $70k) |
3.05% p.a. |
Earn base interest of 0.05% p.a. for your entire
account balance
Earn 1.20% p.a. bonus interest when you credit
a minimum salary of $2,000 every month
Earn up to 1.2% p.a. bonus interest when you insure
with OCBC with endowment of at least $4,000 in annual premium or
invest in investment products such as Unit Trust or Structured Deposits
of at least $20,000
Earn 0.30% p.a. bonus interest when you pay any
3 bills every month which must also add up to at least $150 using
OCBC 360 account
Earn 0.30% p.a. bonus interest when you spend
at least $500 on your OCBC
Credit Cards every month
Earn extra 1.00% save bonus interest on the first
$70,000 if your account balance is $200,000 and above
The maximum interest is 3.05% p.a. + any extra
save bonus interest
You will get bonus interest on the first $70,000 of your account
balance. On the months you do less, you will get less bonus interest
You will receive this bonus interest by the 7th business day (exclude
Saturday, Sunday and Public Holiday) of the following month
Click here
to go to OCBC website for more details
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Reviews or Comments (2)
these saving accounts requires u to spend on their own credit cards or sign up for their insurance products to earn the high interest rates. Does it actually make sense to try to earn 3% interest while u try to commit to the requirements set by the banks like purchasing their products or using their credit cards? It would be great if you can cover an article with some realistic scenarios examples for noobs like me
Thank you for your suggestion. We will look into covering the bank accounts with realistic scenarios. In the meantime, our recommendation is that it might make sense to use these bank accounts if you find their credit cards useful (for cashback, miles, etc) and don't find it much of a hassle to credit your salary or pay bills with these bank accounts. However, their investment or insurance products might not be the best around and one will do well to consider all options in the market as well as his/her risk-taking profile before commiting to them.
Easy way to get high interest on a savings account. I receive about $130 interest a month on $50k deposit by doing the 3 requirements every month. Credit must be given to OCBC for coming up with this innovative savings acoount. Hopefully this bonus interest promotion will stay for good.