Anonymous

23 Aug 2020

∙

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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ZY

23 Aug 2020

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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Hi!!!! Are you guys on OCBC savings or UOB savings to earn the high savings account bonus? which one suits u better & have higher interest? :)

I had $10k in a high yield savings account. At first, it was earning about $20 a month in interest, but now it only earns $3 or $4 a month. Did I make a better decision, equal, or worse decision?

May I ask about the additional bonus on CPF? Let's say I have $5k in OA and $70k in SA, does it mean that I get 3.5% interest on $5k in OA, and I get 5% interest on the first $55k in SA?

I am working overseas at the moment, and have been using (normal account) POSB and OCBC to transfer my salary over. Are there any savings account that I can try applying to optimize my money?

Any savings account that allows you to earn bonus interest and air miles on credit card spend at the same time (currently using the UOB One card which is a cash back card)?