OCBC Great Eastern Cashflo Credit Card
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Summary
OCBC Great Eastern Cashflo Credit Card Review 2020
- Interest-free auto-instalment credit card that offers you up to S$200 in monthly rebates
- 0% Interest for monthly instalments when paying for Great Eastern Products and other eligible retail spendings
- Automatically splits your transactions across a 3 - 12 months period of instalments.
- 12 months instalments only available for selected Great Eastern Insurance Premiums.
- A processing fee of 1% will be imposed for Great Eastern premiums charged under a 12-month instalment plan to your card
- Other Non-GE products are also eligible for instalments and rebates
- Earn 0.3% cash rebate if your monthly bill is below S$1,000 and
- Earn 1.2% if your monthly bill is S$1,000 and above, capped at S$100 a month.
- OCBC Great Eastern Cashflo is suitable for those looking to pay for larger expenses and GE Insurance Products via instalment over a period 3 - 12 months as it has an attractive 0% interest and cash rebate on top of that.
Find out about the card's host of benefits, charges, promotions and eligibility criteria below.
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Summary
OCBC Great Eastern Cashflo Credit Card Review 2020
- Interest-free auto-instalment credit card that offers you up to S$200 in monthly rebates
- 0% Interest for monthly instalments when paying for Great Eastern Products and other eligible retail spendings
- Automatically splits your transactions across a 3 - 12 months period of instalments.
- 12 months instalments only available for selected Great Eastern Insurance Premiums.
- A processing fee of 1% will be imposed for Great Eastern premiums charged under a 12-month instalment plan to your card
- Other Non-GE products are also eligible for instalments and rebates
- Earn 0.3% cash rebate if your monthly bill is below S$1,000 and
- Earn 1.2% if your monthly bill is S$1,000 and above, capped at S$100 a month.
- OCBC Great Eastern Cashflo is suitable for those looking to pay for larger expenses and GE Insurance Products via instalment over a period 3 - 12 months as it has an attractive 0% interest and cash rebate on top of that.
Find out about the card's host of benefits, charges, promotions and eligibility criteria below.
OCBC Great Eastern Cashflo Credit Card
OCBC Great Eastern Cashflo Credit Card
Up to 1.2% rebate
CASHBACK
$100
CASHBACK CAP
4.0
13 Reviews
Service Rating
Speed of Approval
Ease of Fee Waiver
Customer Support
High to Low
Posted 24 Apr 2022
Purchased
OCBC Great Eastern Cashflo Credit Card
This is a very useful card to manage your expenses and cashflow per month. Added cherry on top since you can pay for G.E insurance policies and it will automatically split it into 12 months instalments. Overall, do manage your expenses well and this card will serve you well.0
What are your thoughts?29 Jun 2020
[Update 30/06/2020] I'm still using this card even after applying for it more than 2 years ago. Still gives me the great option of diversifying my purchase over a few months interest free and 1% rebate on GE insurance. On top of that, lump sum premium paid to the card is automatically split into 12 months repayment plan. It's not a lot but it's better than nothing. Still the same as before, why pay lump sum when you can pay it in monthly installments. [13/11/2019] [Bill Payment] I used it mostly to pay for my GE insurance, it allows yearly premiums to be paid in installments and returns 1% rebate. It's not a lot but more of convenience, the rebates is just an added plus. [Useful For...] Buying items that are more than $1000 and the ability to split them into 6 months installments, interest free. I use this only if I can afford the item outright but why pay it in full when it can be done in interest free installments. Use it wisely and it will help with a lot of financial decisions and planning.0
What are your thoughts?Posted 30 Nov 2019
Purchased
OCBC Great Eastern Cashflo Credit Card
Application Process: If you have an account with OCBC, typically, the application process is fuss free. And the best part is, the time for approval is short.✌️ Experience: - Those with GE policies, this card will come in super handy. It provides 1% cash rebates for the policies. - Additionally, GE policies signed under this card will be automatically split over 12 months without additional charges. - Other than that, if you are purchasing expensive items but looking to pay over a few months, this card provides a good deal. For purchase within 1000, the bill will be split over 3 months. Similarly, for purchase beyond 1000, your bill will be split over 6 months. This is without extra charges. ✌️😁0
What are your thoughts?20 Nov 2019
Called a Great Eastern Card because ..... its good for Great Eastern Policies! (Duh!) Alright, installment lovers will like this too. (Great Eastern Related??) 1% cash rebate for selected Great Eastern Life and Great Eastern General insurance plans. Automatically split your bills over 12 months (Not Great Eastern Related??) 1% cash rebate with monthly bill of S$1,000 and above, if not 0.5% For all other spends, spilt your bills over 3 or 6 months at 0% interest and earn up to 1% rebate. Since this card is very focused on installments, be mindful when you want to cancel the card its going to be a little bit troublesome in terms of your finances.0
What are your thoughts?Posted 16 Nov 2019
This card is so amazing! As long as your purchase is more than $100 to $1,000 it will auto split your purchase into 3 months. I once bought a facial product at $300+ and it helped me split into 3 months installment for free! This is absolutely the card you need when you make big purchase as if you purchase more than $1,000 it will auto split into 6months installment and you will even earn rebates! Where to find such a good deal! Best card to use when I am planning for my bto renovation/furniture!0
What are your thoughts?Posted 13 Nov 2019
This is one of the best cards from OCBC and from Mastercard! Simply because it gives you amazing cash flow for any big spends that you have. They have simplified to split anything $100-$1000 across 3 months and anything above $1000 across 6 months. Pair this up with your 360 account and you get the spend bonus interest for 6 months! Now that is amazing value for money (spent!) The rebates are not fantastic, but if you can live with it, its very good and highly recommended!0
What are your thoughts?Posted 13 Nov 2019
OCBC recommended to apply for GE Card the last time i purchased GE endowment with them. insurance annual payment was split into 12 months in 0 interest rate pus earning cash rebate as well.0
What are your thoughts?Posted 13 Nov 2019
OCBC is rather strict with the approval of the credit card. I remember a few years back when I applied for the cashflo card, I need to arrange an appointment with an OCBC staff to sign a document manually before I can get the card approved. It will be good if OCBC can bring the process online (maybe e-signature) for ease of application and for tracking of application statuses. Overall, the card is great in allowing me to breakdown my insurance and travel booking payment into monthly installment which makes my payment manageable.0
What are your thoughts?11 Jul 2021
Purchased
OCBC Great Eastern Cashflo Credit Card
[Promotions and Perks] This card used to be very useful for Great Eastern Insurance Premium payment. It offer free 12 months installment for eligible policies. However, since the end of 2020, they started charging 1% processing fee for the 12 months installment. Some other banks provides a free 3-6 months installment which could be a good idea to stretch the payment , if you do not wish to pay for the 1% processing fee. Personally, I went ahead with paying the 1% processing fee, although I was quite annoyed about the processing charges. The rational for me is that the 1% does save me some hassle (for calculating my monthly expenses) and provide more flexibility of having more cash on hand.0
What are your thoughts?08 Jul 2020
Purchased
OCBC Great Eastern Cashflo Credit Card
[Cashback Card] Hard to get fee waiver from OCBC bank if your spending is insufficient. Used to be 1% rebate on GE insurance. Now it's 0.3% cash rebate for all eligible GE Life and GE General Insurance premiums, capped at S$100 a month.0
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New to credit cards? Here's your complete guide to cashback credit cards.
Key Benefits of OCBC Great Eastern Cashflo Credit Card
These are some highlights of the OCBC Cashflo Credit Card and the cashback benefits to offer.
Benefits of OCBC Cashflo Credit Card | What You'll Get |
|---|---|
Interest-free monthly instalment |
|
Rebates |
|
OCBC Cashflo Credit Card - Benefit
Eligibility for OCBC Great Eastern Cashflo Credit Card
To be eligible for the OCBC Cashflo Credit Card, you'll have to meet the following criteria:
- Be at least 21 years old
- For Singaporeans and PRs: Minimum annual income of $30,000
- For foreigners: Minimum annual income of $45,000
Fees and Charges for OCBC Great Eastern Cashflo Credit Card
- Annual Principle Fee: $160.50 (First 2 years waived)
- Annual Supplementary Card fee: $80.25 (First 2 years waived)
- Fee waiver: Available (provided that you hit the minimum spending of at least S$5,000 in 1 year, starting from the month in which the card is issued)
- Minimum Spend: S$5,000 per year
- Interest-Free Period: 23 days
- Annual Interest Rate: 26.88%
- Minimum monthly payment: 3% or $50, whichever is higher
- Processing Fee: 1% fee will be imposed for Great Eastern premiums charged under a 12-month instalment plan
- Late payment charge: $100
- Cash advance fee: 6% or $15, whichever is higher
- Interest on Cash Advance: 28.92% p.a.
- Administration Fee: S$150 to accelerate payment of automatic instalments
- Extension of instalment term: 3% of outstanding amount applies for 3- and 6-month term extension, and 5% of outstanding amount applies for 12-month term extension.
The Best Credit Cards of 2020 Review: How does OCBC Great Eastern Cashflo Compare?
The Great Eastern Cashflo Credit Card serves a very specific purpose of paying instalments on Great Eastern products with 0% interest. It also makes your payment process much easier by automating the instalments over a set duration of 3 or 12 months.
You can also get 0.3% cashback on these instalments, with a S$100 monthly cap. OCBC Cashflo also does not charge extra processing fees unlink other banks that facilitate instalment payments.
If you are not a GE customer and are also looking for an 0% instalment card, you can perhaps just go for the OCBC Cashflo instead.
If you're looking for a good cash back card in other areas of spending like Groceries or Entertainment, this is not the card for you as it does not provide a competitive rebate/cashback rate for them.
Terms and Conditions of OCBC Great Eastern Cashflo Credit Card
- 12 months instalment scheme only available for selected Great Eastern products
- Transactions not eligible for cash rebate include: Tolls and bridge fees, wire transfer money orders, utilities, securities-brokers and dealers, insurance sales and more. Please check the card's page of Terms & Conditions for the full list of exclusions.
- The default trigger amount is S$100
- Trigger amount refers to the minimum amount for each transaction you make on the OCBC Cashflo Credit Card, before the bank automatically splits the payment into instalments for you.
- The first instalment payment will be charged immediately to your Card Account when you purchase the goods/services. Each subsequent instalment payment will be charged to your Card Account on or about the same day in each following month, until the purchase price or transaction amount has been completed
- To be eligible for the instalment scheme, the available credit limit on your Card Account must be sufficient to block out the entire transaction amount at the time the Card Transaction is made
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How to Apply for OCBC Great Eastern Cashflo Credit Card
- Apply Online or
- Visit OCBC Branches
About OCBC
The Overseas-Chinese Banking Corporation, Limited - or OCBC Bank - is headquartered in Singapore. Its inception in 1932 was the result of a merger of three local banks. As the second-largest bank in Southeast Asia, the multinational banking and financial services has assets of close to $468 billion. It has an Aa1 rating from Moody's, and an AA-rating from Standard & Poor's.
At present, the bank has over 570 branches across 18 countries and regions. Its services range from commercial banking and specialist financial and wealth management to asset management, stockbroking, insurance and treasury services.