OCBC 360 Account Reviews and Comparison - Seedly
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OCBC 360 Account

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Savings Accounts/OCBC 360 Account

OCBC 360 Account

4.4
138 reviews

USER RATINGS

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Customer Support

4.5

Ease of online banking

4.8

OCBC 360 Account

Up to 3.45% p.a.
INTEREST RATES
$1,000
MIN. INITIAL DEPOSIT
$3,000
MIN. AVG DAILY BALANCE

    OCBC 360 Account

    Up to 3.45% p.a.
    INTEREST RATES
    $1,000
    MIN. INITIAL DEPOSIT
    $3,000
    MIN. AVG DAILY BALANCE
Reviews (138)

4.4

138 Reviews

  • 5
    75
  • 4
    39
  • 3
    16
  • 2
    4
  • 1
    0

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salary account

ocbc 360

online banking

minimum spend

customer service

fuss free

application process

credit account

account balance

ocbc credit

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  • Updated 2h ago

    Purchased

    OCBC 360 Account

    Prior to selecting OCBC 360 Account as the Savings Account of my choice, I was also contemplating the DBS Multiplier Account, UOB One Account, BOC Smart Saver Account, CIMB FastSaver Account, and many more. As a fresh graduate with an entry level salary and low loan commitments, I felt that the OCBC 360 Account is the Savings Account that I can get the most out of. I feel that the OCBC 360 Account is the easiest for me to attain a high interest rate. I believe the easiest category to attain is the crediting of salary of at least $2,000. With a job, that is almost guaranteed. On the other hand, credit card spending might not be guaranteed. I will now put the interest amount into numbers to depict what I am trying to say. Putting the comparisons into numbers: [Scenario 1] - Account Balance: $70,000, Salary: $3,500, Credit Card Spending: $500 Monthly Interest: OCBC 360 Account: $124.84 DBS Multiplier Account: $40.45 UOB One Account: $152.75 On this ground, we can see that the UOB One Account provides the best interest income. However, the OCBC 360 Account has a "Step Up Bonus" which provides additional interest if your average daily balance is increased by at least S$500 from the previous month. If achieved, this will bring OCBC 360 Account's monthly interest from $124.84 to $153.28 which is higher than UOB One's monthly interest. In addition, I feel that Credit Card Spending might be difficult to sustain. Especially in times of uncertainty like now where there is an ongoing pandemic, our credit card spending might decrease. Thus, let's do a comparison whereby the Credit Card Spending of $500 is not achieved. [Scenario 2] - Account Balance: $70,000, Salary: $3,500, Credit Card Spending: $0 Monthly Interest: OCBC 360 Account: $98.09 [Can be higher with the Step Up Bonus] DBS Multiplier Account: $3.04 UOB One Account: $2.92 With this example, you can see the importance of attaining minimum $500 Credit Card spending in the UOB One Account. Thus, if you are spending less on your credit card due to a recession or a pandemic, you are travelling, or you do not want to have a credit card, the UOB One Account may not be an ideal choice. In both examples, we see that the OCBC 360 Account provides a competitive and stable interest and this is comparatively easy to attain. The only criteria needed to achieve such high interest income on the OCBC 360 Account is the crediting of monthly salary of at least $2,000. Even with credit card spending, the OCBC 360 Account can also provide the highest interest income. In conclusion, with the guarantee of high interest rate whether or not I achieve a credit card spending of at least $500, I went with the OCBC 360 Account and with the 2 examples shown above, I would also recommend the OCBC 360 Account to all of you! Hope my review has been helpful!
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  • Updated 3h ago

    Purchased

    OCBC 360 Account

    [Online Banking] [Interest] Not difficult to have the Salary, Boost & Step Up Bonus interest by crediting >$2k salary every month.
    0 comments
    0
  • Updated 9h ago

    Purchased

    OCBC 360 Account

    Love that how easily it is to hit the Salary, Boost & Step Up Bonus interest just by crediting >$2k salary in every month instead of only the usual 0.05% rates. Altho their Credit Card requirements are not that attractive as compared to other banks, but 360 is really an account worth considering to use for salary crediting.
    0 comments
    0
  • Updated 15h ago

    Purchased

    OCBC 360 Account

    My main account for the good interest rate returns and the ease of banking. Complements my OCBC credit cards (eg 365) very well. Good to keep a higher amt of savings within the account to enjoy better interest rates
    0 comments
    0
  • Updated 1d ago

    Purchased

    OCBC 360 Account

    I lived and worked in a a range of developing plus Singapore and other developed countries and banked with OCBC. OCBC has been incredible with customer service despite the distance and super slow (and I mean, can’t load instagram stories slow internet). I’ve always had prompt resolution of queries, everything can be done online, and more importantly the system actually enables you to do your banking without physical presence in a bank. Mobile app is really user friendly too. Every upgrade brings improvements rather than confusing redesign that some other service providers might have. The bank’s service staff are always so helpful and the team clearly goes all out to ensure user experience is great. I’ve been banking with them for the past four years and would definitely recommend it to anyone looking for a financial service provider plus service.
    0 comments
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Questions (37)

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OCBC 360 Account

Savings

Savings Accounts

If you are between 18 to 26 years old, then you should consider Standard Chartered JumpStart account. This is because it gives an interest rate of 2% per annum for your first $20k balance. Furthermore, there is no fees and minimum balance required in order to maintain the account. Moreover, it comes with a debit card that gives you 1% cashback on eligible spending. With this in mind, it is certainly a worthy account for a start. Alternatively, you may consider CIMB FastSaver. This is because it gives an interest rate of 1% per annum for the first $50k account balance. In like manner, there is no monthly fee associated with maintaining the account. Hence, it is worth taking a look as well. By the way, yes, it is possible to get a debit card instead of a credit card for OCBC 360. Since the card is standard, there is nothing to choose. Here is everything about me and what I do best.
👍 0

OCBC Best Denki Credit Card

OCBC

OCBC FRANK Credit Card

OCBC 365 Credit Card

OCBC 360 Account

Rebates

OCBC Titanium Rewards Card

Payments

Savings

Credit Cards

The STACK rewards programme is a multi platform loyalty platform that brings all your rewards points together on a single platofrm so you can track and exchange points. STACK allows you to combine points from multiple rewards systems. STACK has a feature called STACK marketplace where you get to access a catalogue of deals and rewards listed. As long as you are a member of at least 2 of the participating members, you can use STACK. Partners of OCBC are: Robinsons, Millennium Hotels and Resorts, UPGREAT, AsiaMalls
👍 2

BOC SmartSaver

Savings

OCBC 360 Account

OCBC

Savings Accounts

Interest rates of BOC might be comparable or abit better than OCBC 360 depending on how you are able to meet the criteria. But there have been reviews/feedback that BOC online banking is not too good compared to OCBC and there are fewer ATMs available for BOC. Ultimately ocbc is still a local bank so I'll still bank with them.
👍 0

Savings

OCBC Frank

OCBC 360 Account

Geraldo L.
Geraldo L.
Level 7. Grand Master
Updated 4w ago
Hi Izz, I opened an OCBC360 account at the branch recently and they had to open a new OCBC360 account followed by closing the Frank account. So, there's no way to convert an existing Frank account to retain its account number.
👍 0

Savings

OCBC 360 Account

Savings Accounts

Tee Hon Eng
Tee Hon Eng
Level 4. Prodigy
Answered 4w ago
You may wish to check if you are able to use your credit card for expenses. Understand that OCBC 365 has 3% rebate for groceries and 6% rebate on dining with min spend of $800. (cap applies) I see koufu and food republic has contactless payment option, don't have to dine at expensive restaurants. If after concluding that you are still unable to meet the min spend, you can make use of the calculator on the various bank's webpage to estimate your interest.
👍 0

BOC SmartSaver

OCBC 360 Account

OCBC

Savings

Savings Accounts

Alex Chua
Alex Chua, Freshmore (Engineering System Design) at SUTD
Level 6. Master
Answered on 29 Feb 2020
There are a lot of other multicurrency savings accounts. Why and how do you scope down to boc smartsaver account? Can you optimise the rewards of the saving accounts? What are some of the factors you cannot live without? If there is no better choice, then boc smartsaver suits your needs
👍 0

OCBC Great Eastern Cashflo Credit Card

OCBC 360 Account

Savings Accounts

Credit Cards

Yep, the cashflo card is a credit card issued by OCBC, so it still counts towards the credit spend for your savings account
👍 0

OCBC 360 Account

OCBC

Savings

Savings Accounts

Geraldo L.
Geraldo L.
Level 7. Grand Master
Updated on 01 Mar 2020
Hi Rachel, this hack will require some effort but it will help you maximize your interest. You will have to alternate your funds every month, preferrable with another interest bearing savings account (like CIMB Fastsaver, Maybank iSavvy or Standard Chartered eSaver): 1. Mth1 = OCBC360 = $70k 2. CIMB Fastsaver = 0 Total interest = 1.5% from OCBC (Stepup=0.45% + Boost=1% + Base=0.05%) 1. Mth2 = OCBC360 = 0 2. CIMB Fastsaver = $70k Total interest = 1% from CIMB Fastsaver 1. Mth3 = OCBC360 = $70k (repeat from step 1) 2. CIMB Fastsaver = 0 Essentially, this will allow you to qualify for the bonus 1% interest from Boost. Do take note of the minimum sum requirement for OCBC360 if you've passed the first year fee waiver though.
👍 0

Savings

MileLion

OCBC 360 Account

Savings Accounts

Credit Cards

Hi anon, If you are in the miles game, then sign up for the OCBC 90N. It's a decent all round card with 2.1mpd on overseas spend, slight edging out other cards like DBS Altitude and Citi PM, and miles can be transferred in blocks of 1000. The only drawback would be that there is no lounge access, but you could always get another miles card to fill that gap. I'll refer you to an answer I posted previously for a more indepth breakdown of the current bonuses: https://seedly.sg/questions/what-are-your-thoughts-on-ocbc-90n?aid=26741&utmsource=answershare&utm_medium=internal
👍 2

OCBC 365 Credit Card

MileLion

OCBC 360 Account

OCBC 90° N Credit Card

Credit Cards

Hi anon, Don't let the bonus interest on the OCBC 360 account guide your decisions. Your spending should be driven by your needs, and not your desire to earn more interest. You earn bonus interest because you have to buy something and put it on your card, not the other way round. With that in mind, if you have a difficult time meeting the minimum spend of $800, then I highly recommend that you take the OCBC 90N card, since that will reward you with miles from the first dollar. You'll have to want to be involved in the miles game though, or the card may not make too much sense for you.
👍 1
Load more questions

How to maximise the interest rate for OCBC 360 Savings Account?

Base interest rate(%) p.a.

The base interest rate per annum for OCBC 360 savings account is 0.05%

Bonus Interest Rate(%) p.a

The bonus interest rate per annum for OCBC 360 savings account comes with a few criteria:

  • 1.2% p.a. bonus for crediting salary of at least S$2,000 through GIRO
  • 0.3% p.a. bonus for paying at least 3 bills adding up to more than S$150 in total
  • 0.3% p.a. bonus for spending at least S$500 on credit card
  • 1% p.a. bonus if you have at least S$200,000 balance amount
  • Up to 1.2% p.a. bonus for spendings on investment or insurance, depending on the product

*Bonus interest only applies to the 1st S$70,000

Terms and fees for OCBC 360 Savings Account

  • Initial deposit: S$1,000
  • Citizenship status: Singaporeans, PRs and foreigners
  • Minimum age to open account: 18
  • Minimum Average Daily Balance: S$3,000
  • Fall below fee: S$2 (waived for first year)
  • Early closure fee: None

For more information, you can check out their website here.