facebookI use ocbc360 for salary, earning salary & save bonus. OCBC states interest on first 70k, does it mean max interest once 70k and I should transfer those more than 70k? Where to trsf for high interest? - Seedly

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Anonymous

23 Aug 2020

Saving Hacks

I use ocbc360 for salary, earning salary & save bonus. OCBC states interest on first 70k, does it mean max interest once 70k and I should transfer those more than 70k? Where to trsf for high interest?

-Or will transfer those after first 70k will affect the salary and save bonus?
-Though another 0.8% for grow bonus if avg daily balance of 200k, but I think that takes time. If so, will it be better to save those after 70k elsewhere for better interest? Any recommendation?

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Yes, any amount above $70k and before you reach $200k only earns 0.05% p.a. Hence, you should transfer out to maximise your interest.

If the average daily balance of your account this month is not $500 more than that of last month, after transferring out, then you lose the save bonus for this month.

Strongly recommend Singlife 2.5% p.a. for the first $10k. Although it is not guaranteed, I have been consistently getting 2.5% p.a. for the past few months. Look for a friend who also has this account and get him/her to refer you to get $10 each.

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