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Anonymous
Ocbc 360 interest
Does anyone know how is OCBC 360 interest is caculated ? Just base on base,salary,save and spend.
Like is it interest being compound daily ?
If I were to caculate myself, what formular should I use?
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Robin
Edited 21 Jan 2025
Administrator at SG
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OCBC 360 Account
4.3
205 Reviews
Up to 2.38% p.a.
INTEREST RATES
$1,000
MIN. INITIAL DEPOSIT
$3,000
MIN. AVG DAILY BALANCE
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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