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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
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Deposits <$35k |
Deposits $35k to $70k |
| Base Interest |
0.05% p.a. |
0.05% p.a. |
| Credit Salary |
1.20% p.a. |
2.00% p.a. |
| Insure or Invest |
0.60% p.a. |
1.20% p.a. |
| Increase Balance |
0.30% p.a. |
0.60% p.a. |
| Credit Cards Spend |
0.30% p.a. |
0.60% p.a. |
| Total Effective (Max. $70k) |
2.45% p.a. |
3.45% p.a. |
Earn base interest of 0.05% p.a. for your entire
account balance
Earn up to 1.20% p.a. bonus interest for first
$35,000 and 2.00% p.a. (promotional rate to be
reduced back to 1.50% from 1 Apr 2019) bonus interest for next $35,000
when you credit a minimum salary of $2,000 every month
Earn up to 0.60% p.a. bonus interest for first
$35,000 and 1.20% p.a. bonus interest for next
$35,000 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 $20,0000
Earn 0.30% p.a. bonus interest for first $35,000
and 0.60% p.a. bonus interest for next $35,000
when you increase account balance by at least $500 as compared to
previous month
Earn 0.30% p.a. bonus interest for first $35,000
and 0.60% p.a. bonus interest for next $35,000
when you spend at least $500 on your OCBC
Credit Cards every month
Earn 1.00% p.a. bonus interest for any incremental
balance from previous month
The maximum effective interest is 3.45% p.a. +
any extra bonus interest from monthly incremental balance after
taking into account of the 2 tiers
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
Depositors can also earn an extra 1.00% p.a. save
bonus interest on the first $70,000 if your account balance is $200,000
and above (effectively meaning depositors earn up to 4.20%
p.a. on first $70,000 but only 0.05% p.a. on anything
above $70,000)
Promotions
Open your first OCBC 360 account today and get a $20 cash reward.
What's more, stand a chance to be 1 of 3 lucky winners to win $10,000
cash prize (Until 31 Dec 2018)
From 1 Dec 2018 to 31 Mar 2019, earn a promotional rate of up to
2.00% per year when you credit your salary of at least $2,000
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.