OCBC 360 Account
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- Reviews (204)
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This product is managed by OCBC Bank.
Summary
OCBC 360 Account Review 2024
OCBC 360 is a Savings Account by OCBC that allows you to earn extra bonus interest rates when you fulfill certain criteria.
Product Page Transparency
- Claimed in November 2020
Account Features & Details
1) Key Features
- Earn base interest rate of 0.05% p.a.Â
- Enjoy bonus interest rates when fulfil categories:
- Credit your salary of at least S$1,800 through GIRO;
- Save at least S$500 monthly;
- Spend at least S$500 on your OCBC 365 credit card monthly;
- Purchase an eligible insurance product from OCBC;Â
- Purchase an eligible investment product from OCBC;
- Grow your wealth by maintaining an average daily balance of at least S$200,000 - Earn an effective interest rate of up to 2.38% p.a on your first S$75,000
- Track your bonus eligibility easily through OCBC iBanking account
2) Interest Rates
- Base interest rate: 0.05% p.a
- Maximum interest rate: 4.05% p.a
Salary crediting
- Credit salary of at least S$1,800 through GIROÂ
- First S$50,000: 0.60% bonus interest
- Next S$25,000: 1.20% bonus interest
- Next S$25,000: 2.00% bonus interest
Savings
- Increase your account’s balance by at least S$500 from the previous month to enjoy bonus interest
- First S$50,000: 0.20% bonus interest
- Next S$25,000: 0.40% bonus interest
- Next S$25,000: 0.6% bonus interest
Spending
- Spend at least S$500 to your OCBC 365 Credit Card
- First S$50,000: 0.20% bonus interest
- Next S$25,000: 0.40% bonus interest
- Next S$25,000: 0.6% bonus interest
Insurance
- OCBC 360 account holders can earn bonus interest rates upon purchase of an eligible OBCB insurance productÂ
- First S$50,000: 0.60% bonus interest
- Next S$25,000: 1.20% bonus interest
- Next S$25,000: 2.00% bonus interest
Investment
- OCBC 360 account holders can earn bonus interest rates upon purchase of an eligible OBCB investment productÂ
- First S$50,000: 0.60% bonus interest
- Next S$25,000: 1.20% bonus interest
- Next S$25,000: 2.00% bonus interest
3) Eligibility
- Age: 18 years old and above
- Citizenship: Singaporean, PRs, and Foreigners (with valid work pass)
- Minimum initial deposit: S$1,000
4) Fees
- Minimum average daily balance: S$3,000
- Fall-below fee: S$2 (waived for first year)
- Early account closure: S$30 (within 6 months of account opening)
- Cheque book fee: S$10 (issued upon request)
5) Application Process
How to apply?
- Apply online through OCBC’s website or in-person at any OCBC branch
- For new customers, open your account instantly when complete your application with MyInfor via SingPass
- For existing OCBC customers, apply instantly via internet bankingÂ
Supporting documents
- Singaporeans & PRs
- NRIC
- Additional document: Phone bill/ Half-yearly CPF Statement/ Any bank statement - Foreigners
- Passport
- Valid pass (e.g Employment Pass, S Pass, Student Pass)
- Additional document: Phone bill/ Half-yearly CPF Statement/ Any bank statement
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Summary
OCBC 360 Account Review 2024
OCBC 360 is a Savings Account by OCBC that allows you to earn extra bonus interest rates when you fulfill certain criteria.
Product Page Transparency
- Claimed in November 2020
Account Features & Details
1) Key Features
- Earn base interest rate of 0.05% p.a.Â
- Enjoy bonus interest rates when fulfil categories:
- Credit your salary of at least S$1,800 through GIRO;
- Save at least S$500 monthly;
- Spend at least S$500 on your OCBC 365 credit card monthly;
- Purchase an eligible insurance product from OCBC;Â
- Purchase an eligible investment product from OCBC;
- Grow your wealth by maintaining an average daily balance of at least S$200,000 - Earn an effective interest rate of up to 2.38% p.a on your first S$75,000
- Track your bonus eligibility easily through OCBC iBanking account
2) Interest Rates
- Base interest rate: 0.05% p.a
- Maximum interest rate: 4.05% p.a
Salary crediting
- Credit salary of at least S$1,800 through GIROÂ
- First S$50,000: 0.60% bonus interest
- Next S$25,000: 1.20% bonus interest
- Next S$25,000: 2.00% bonus interest
Savings
- Increase your account’s balance by at least S$500 from the previous month to enjoy bonus interest
- First S$50,000: 0.20% bonus interest
- Next S$25,000: 0.40% bonus interest
- Next S$25,000: 0.6% bonus interest
Spending
- Spend at least S$500 to your OCBC 365 Credit Card
- First S$50,000: 0.20% bonus interest
- Next S$25,000: 0.40% bonus interest
- Next S$25,000: 0.6% bonus interest
Insurance
- OCBC 360 account holders can earn bonus interest rates upon purchase of an eligible OBCB insurance productÂ
- First S$50,000: 0.60% bonus interest
- Next S$25,000: 1.20% bonus interest
- Next S$25,000: 2.00% bonus interest
Investment
- OCBC 360 account holders can earn bonus interest rates upon purchase of an eligible OBCB investment productÂ
- First S$50,000: 0.60% bonus interest
- Next S$25,000: 1.20% bonus interest
- Next S$25,000: 2.00% bonus interest
3) Eligibility
- Age: 18 years old and above
- Citizenship: Singaporean, PRs, and Foreigners (with valid work pass)
- Minimum initial deposit: S$1,000
4) Fees
- Minimum average daily balance: S$3,000
- Fall-below fee: S$2 (waived for first year)
- Early account closure: S$30 (within 6 months of account opening)
- Cheque book fee: S$10 (issued upon request)
5) Application Process
How to apply?
- Apply online through OCBC’s website or in-person at any OCBC branch
- For new customers, open your account instantly when complete your application with MyInfor via SingPass
- For existing OCBC customers, apply instantly via internet bankingÂ
Supporting documents
- Singaporeans & PRs
- NRIC
- Additional document: Phone bill/ Half-yearly CPF Statement/ Any bank statement - Foreigners
- Passport
- Valid pass (e.g Employment Pass, S Pass, Student Pass)
- Additional document: Phone bill/ Half-yearly CPF Statement/ Any bank statement
OCBC 360 Account
OCBC 360 Account
Up to 2.38% p.a.
INTEREST RATES
$1,000
MIN. INITIAL DEPOSIT
$3,000
MIN. AVG DAILY BALANCE
4.3
204 Reviews
Service Rating
Customer Support
Ease of online banking
High to Low
Posted 20 Feb 2023
Purchased
OCBC 360 Account
[Online Banking] You can log in via ocbc app to check your balance. Easy to setup and account set up is immediate. sign up pls1
What are your thoughts?Reply
Save
Posted 03 Nov 2022
Purchased
OCBC 360 Account
[Interest] Highest realistic and step up interest among all the banks. Definitely the best local bank among the 3 for savers0
What are your thoughts?Posted 05 Aug 2022
Purchased
OCBC 360 Account
One of the highest rate earn interest when you use this account as your salary account. Definitely a good recommendation for people who just started working permanently or part-time. [Fuss Free]0
What are your thoughts?Posted 12 Apr 2022
Purchased
OCBC 360 Account
[Fuss Free] User friendly UI/UX. App interface is also intuitive with constant updates. Is a great option for those looking for a low-barriers-to-entry savings account that encourages good financial habits.0
What are your thoughts?Posted 25 Mar 2022
Purchased
OCBC 360 Account
[Online Banking] Better UI/UX compared to other the other 2 local banks. App interface is also intuitive with constant updates. [Interest] Been having this account since the days of up to 3.25% bonus interests. Unavoidably interest rate environment has been low and bonus interests have been revised several times, but still remains attractive for balances above $50k.0
What are your thoughts?Posted 27 Dec 2021
Purchased
OCBC 360 Account
Had Frank in uni, and they upgraded it to a 360 account. Used it for my emergency savings. No issues with it. Easy to use the app to check every month.0
What are your thoughts?Posted 23 Oct 2021
Purchased
OCBC 360 Account
[Fuss Free] quite a good account for fresh grad/new to workforce, especially if u got ocbc credit card also the app allow u just transfer and pay your card [Application Process] application is easy either u go down branch u can just open online by using ur singpass0
What are your thoughts?Posted 24 Sep 2021
Purchased
OCBC 360 Account
Not too bad and prompt customer support! Easy to use as well! Love the feature of being able to set sub-goals and their automation! Good for people who are looking to budget their monies!!0
What are your thoughts?24 May 2021
Purchased
OCBC 360 Account
I have OCBC account for the longest time and will continue use as it is the best user-friendly platform there is out there, compared to DBS, UOB, SC etc.0
What are your thoughts?25 Apr 2021
Purchased
OCBC 360 Account
[Application Process] Easy and Fuss-free experience [Interest] Used to have one of the higher interest rates, but currently low due to market changes0
What are your thoughts?
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How does OCBC 360 Account Work?
Earn more interest when you credit your salary, save, insure or invest. To achieve the extra bonus interest rates on top of the base, OCBC has various types of bonus criteria:
- Salary Bonus: Salary Crediting of at least S$1,800
- Save Bonus: increase your account balance by S$500 compared to the previous month
- Insure Bonus : Insure with OCBC through eligible financial products
- Invest Bonus: Invest with OCBC through eligible financial products
- Grow Bonus: for accounts with at least S$200,000 worth of total balance on the first S$75,000, requires $200,000 minimum in avergae daily account balance
Latest OCBC 360 Account Interest Rates for 2021
- Earn a base interest of 0.05% a year on your entire account balance regardless of whether you fulfill the categories.
- The highest possible interest rates you can earn with OCBC 360 is 2.38% p.a. EIR.
First S$25,000 | Next S$25,000 | Next S$25,000 | Effective Interest Rate (EIR) p.a. | |
|---|---|---|---|---|
Salary Bonus Credit your salary of at least S$1,800 through GIRO. | 0.3% | 0.6% | 1.2% | EIR 0.7%* |
Save Bonus Increase your average daily balance by at least S$500 monthly. | 0.1% | 0.2% | 0.4% | EIR 0.23%* |
Insure Bonus Purchase an eligible insurance product from OCBC | 0.3% | 0.6% | 1.2% | EIR 0.7%* |
Invest Bonus Purchase an eligible investment product from OCBC | 0.3% | 0.6% | 1.2% | EIR 0.7%* |
Grow Bonus Maintain an average daily balance of at least S$200,000 | 0.4% | 0.4% | 0.4% | - |
OCBC 360 Account Interest Rates for 2021
For more information on how the newest interest rate changes to OCBC 360 Savings Account affects you, check out our in-depth review of the Changes to OCBC 360 Account.
How to Get the Highest Interest Rates for OCBC 360 Account?
- Bonus interest rates you get to enjoy depends on your total account balance and spending pattern. Of course, to earn the highest interest rates you would have to tackle the additional bonus which is to insure and invest (previously grouped as wealth bonus) with OCBC. However, the minimum investment/insurance sums might not be affordable for everyone.
- The base interest rate per annum for OCBC 360 savings account is 0.05% p.a.
- To check how much interest rates you can earn, visit the website for OCBC 360's interest rate calculator.
* For maximum EIR illustration purposes for your first S$75,000:
- Salary + Save: Earn a maximum EIR of 0.98% a year.
- Salary + Save + Insure / Invest: Earn a maximum EIR of 1.68% a year.
- Salary + Save + Insure + Invest: Earn a maximum EIR of 2.38% a year.
To earn the extra bonus interest rates from Insure and Invest, here are the qualifying products you can choose from:
Bonus | OCBC Financial Product | Minimum qualifying amount |
|---|---|---|
Insurance | Regular Premium: Protection/Legacy | S$2,000 |
Insurance | Regular Premium: Endowment/Retirement | S$4,000 |
Insurance | Single Premium Insurance | S$20,000 |
Investment | Unit Trusts | S$20,000 |
Investment | Structured Deposits | S$20,000 |
Investment | Bonds and Structured Products | S$200,000 |
OCBC 360 Account Highest Interest Rates
Is OCBC 360 The Best Savings Account For You in 2021?
In our latest OCBC 360 interest rates revision updates, we believe that with the multiple interest rates changes in 2020, the pros of OCBC 360 will become highly limited. We are anticipating other savings accounts to follow suit. As such, we will hold off making verdicts until the dust has settled.
Want to know how OCBC 360 compares with other savings accounts? Here's a compilation of The Best Savings Accounts in 2021.
Fees and Charges for OCBC 360 Account
- Initial deposit: S$1,000
- Minimum Average Daily Balance: S$3,000
- Fall below fee: S$2 (waived for the first year)
- Early closure fee: None
Eligibility: who can apply for OCBC 360 Account?
- Citizenship status: Singaporeans, PRs and foreigners
- Minimum age to open an account: 18 years old
How to apply for OCBC 360 Account?
- Apply Online or Visit OCBC
- Documents required: NRIC for Singaporeans and Singapore PRs. Passport and a valid pass (e.g. Employment Pass (EP) or S-Pass or Student Pass) for foreigners
- Any bank statement, Phone Bill, or Half-yearly CPF statement
Contact OCBC
- Tel: 6363 3333
- Address: OCBC Centre, 65 Chulia St, Level 46, Singapore 049513
Contact us at [email protected] should you require any assistance or spot any inaccuracies.
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