OCBC 360

OCBC 360

3.6
(39)
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Ratings Breakdown (39)

3.6
  • 5
    2
  • 4
    22
  • 3
    14
  • 2
    1
  • 1
    0
Min Rate0.05%
Max Rate4.05%
Min Initial Deposit$1,000
Interest TiersBased on Salary credit and 4 category transactions (card spend, bills, insurance, investments)
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Reviews (39)
Q&A (4)
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  • Jeff Yeo
    15 Reviews, 359 Upvotes
    Reviewed on 15 Sep 2018
    Once upon a time there was a surprise in the consumer banking industry, an acc that really rewarded consumers for banking relationships even if you were not high SES. Haha Fast forward to current day ... Pros 1) good total banking relationship option if you credit salary + cc spend + investments + online bill payments 2) increase rebates to 6% for dining in oct 2018 3) excellent banking e services Cons 1) increase spending required in oct 2018 2) I hear of cc wavier being reject(have not experienced this myself) 3) requires 200k deposit for higher interest I am evaluating to move away from using these services and just put the min sum into the account due to the change in spending to 800 which is quite a stretch. My primary banking account has already been establish with DBS multiplier that doesn’t have such high requirements I would say go with them if you can meet the total banking relationship but there are easier options else where
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  • Isabella Jo
    4 Reviews, 72 Upvotes
    Reviewed on 21 Jul 2018
    Good option for salary crediting account. Although I have migrated to dbs Multiplier, I am still using this as my main account. Love the short atm queue compared to dbs/posb atm
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  • Alethea Loh
    2 Reviews, 2 Upvotes
    Reviewed on 11 Jul 2018
    Great savings accounts when it first launched! It has become very competitive when most banks launched such similar products!
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  • Alvin Tay
    2 Reviews, 3 Upvotes
    Reviewed on 10 Jul 2018
    needs to track carefully the qualifying amount in order to qualify the addition bonus interest. been using 360 acct and recently promo saver!
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  • Jazreel Tan
    2 Reviews, 3 Upvotes
    Reviewed on 10 Jul 2018
    Coupling this with the 365 card to maximize cash back and interest return. Relatively easy to hit the minimum requirements for interest returns but they’ve been changing their terms, making their competitors seem a lot more attractive overtime.
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  • Jia Ling
    2 Reviews, 3 Upvotes
    Reviewed on 10 Jul 2018
    Independent requirement makes things simpler. All requirements can be tracked on the ibanking platform which is a plus! Bill payment cycle is straightforward too, starting from 1st till 30th/31st of the month. Although the money insights can be pretty confusing at times due to them not reflecting the actual cash flow (using external app to track budget and all). Overall, a good product launch. Hope OCBC can work towards more features/incentives for all!
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  • Chin Guo Qiang
    2 Reviews, 14 Upvotes
    Reviewed on 10 Jul 2018
    Multiple tier approach for a good high interest rate savings account, with just a salary crediting of min $2000 for a interest rate of 1.25% for starters. DBS Multiplier is a new player that conveniently matches this saving account, a few months back.
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  • Poay Hoan Ngoh
    6 Reviews, 8 Upvotes
    Reviewed on 10 Jul 2018
    I dislike that they changed their terms and conditions of the interests rates 3 times. Interest rates have dropped substantially and the bank doesn’t seem to keen to increase it while others are doing so. Not sure how much longer I should stay with them.
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  • Ng Puay Choo
    6 Reviews, 11 Upvotes
    Reviewed on 10 Jul 2018
    once upon a time they were one of the best offering highest interest rates , but gradually they became very stingy and other places offers higher interest rates with easier conditions to meet. Only good thing left is the user interface.
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  • Claude Chew
    3 Reviews, 6 Upvotes
    Reviewed on 10 Jul 2018
    It is an easi account to earn more interest with multiple products with them. Pay online giro bill 3X will earn u more interest up to 60K:)
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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

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