Ocbc 360 interest

Hi Grow a Garden!!

OCBC 360 account interest is calculated daily based on the daily balance, but is only accumulated and paid at the end of each month, not compounded daily. Combining enough items such as base, salary, save, spend will help you achieve the highest interest rate within the prescribed balance limit.

Interest pays out mthly.

They calculate the mthly average figure in your bank account in that given mth based on the daily amount.

Formula = (Sum of daily amt for the mth/ No. of days) *Interest %

e.g. ($10+$20+$30...+$50)/ 31 days) * 4%

1 Jan - $10

2 Jan - $20

3 Jan - $30

...

31 Jan - $50

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