facebookShould I stick with FRANK or go with 360? - Seedly

Anonymous

11 Jun 2019

Saving Hacks

Should I stick with FRANK or go with 360?

The scenario:

  • 10k in OCBC FRANK
  • only about $200 increment per month

Currently receive about $3 from the 0.3% i/r from FRANK. The i/r calculator for 360 shows >$1 monthly.

Discussion (9)

What are your thoughts?

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Personally I have a Frank and a 360 account.

My salary and all of my giro deductions go against the 360 account (my treasury account).

I transfer my monthly allowance to Frank account (my spending account)

For 10k balance, if you meet the salary crediting criteria, 360 would be kinda worth it....

But honestly, if you do not see an urgent need for the money, I think you are slightly better off putting like 5k in SSB to get 2% yield on non-urgent monies you are keeping as a reserve.

Vincent Tan Wen Bin

11 Jun 2019

Assistant Vice President at Thinkers Alliance

I would go with 360 if you are able to fulfill the criterias for their interest. The interest return is pretty good, as with multiplier dbs and uob one account. But just start somewhere and start looking for more investments to add into your portfolio to create passive income stream.

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You must see if you can fulfil the criteria on OCBC 360 account. It can be quite difficult if your l...

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