How should I hit the Wealth tier for OCBC 360 account?

Hi anon,

I would just skip the wealth tier altogether.

You should be earning the extra interest as a result of your actions (i.e., salary crediting, spending on credit card, etc) instead of letting the extra interest guide your actions (e.g. purchasing an investment product or insurance policy that might not serve your needs).

It's all well and good if you find something that suits you, but do understand that your insurance options will be extremely limited since OCBC partners with GE, and you might want to know what other insurers can offer (work with an independent financial advisor for that). On the investment side, it's usually on unit trusts, but OCBC has (as of this time of writing) a little over 500 funds to choose from. Other platforms such as POEMS will have more funds for you to choose from, and you won't have any sales charges as well.

TLDR; I would just pretend the wealth tier doesn't exist and focus on salary crediting, CC spend, and increasing my average monthly balance by $500/mth.

In order earn consistent interest for this tier, you will need to purchase a new eligible product every 12 months! Furthermore, each product comes with its own set of timeframe and opportunity cost.

With this in mind, I will not suggest for you to do it unless you are very certain that the product suits your needs and you do not mind locking your money for a number of years. That being said, is the opporunity cost to lock up your money worth the little extra interest?

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