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What are the best ways to maximise my OCBC 360 Savings Account? Are there some essential hacks that I should know about?
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Hi Rachel, this hack will require some effort but it will help you maximize your interest. You will have to alternate your funds every month, preferrable with another interest bearing savings account (like CIMB Fastsaver, Maybank iSavvy or Standard Chartered eSaver):
Mth1 = OCBC360 = $70k
CIMB Fastsaver = 0
Total interest = 1.5% from OCBC (Stepup=0.45% + Boost=1% + Base=0.05%)
Mth2 = OCBC360 = 0
CIMB Fastsaver = $70k
Total interest = 1% from CIMB Fastsaver
Mth3 = OCBC360= $70k (repeat from step 1)
CIMB Fastsaver = 0
Essentially, this will allow you to qualify for the bonus 1% interest from Boost.
Do take note of the minimum sum requirement for OCBC360 if you've passed the first year fee waiver though.