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OCBC 360 Account
- Overview
- Reviews (185)
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Claimed
This product is managed by OCBC Bank.
USER RATINGS
Customer Support
Ease of online banking
OCBC 360 Account
Up to 2.38% p.a.
INTEREST RATES
$1,000
MIN. INITIAL DEPOSIT
$3,000
MIN. AVG DAILY BALANCE
OCBC 360 Account
Up to 2.38% p.a.
INTEREST RATES
$1,000
MIN. INITIAL DEPOSIT
$3,000
MIN. AVG DAILY BALANCE
Details
Product Page Transparency
- Claimed in November 2020
OCBC 360 Account Review 2021
OCBC 360 is a Savings Account by OCBC that allows you to earn extra bonus interest rates when you fulfill certain criteria.
The highest possible interest rates you can earn with OCBC 360 is now 2.38% p.a.. OCBC 360 base interest rates start at 0.05%. To obtain the bonus rates, you can credit your salary of at least S$1,800, invest through OCBC, or insure with them.
The salary crediting bonus starts from 0.3% - 1.2% depending on your account balance. Saving will be rewarded by 0.1%-0.4% if you increase your average daily balance by at least S$500 from the previous month. Insuring and Investing will also get you 0.3% -1.2% of bonus interest rates respectively.
For individuals with larger balances in their account, get to earn 0.4% on the first S$75,000 if your account's daily balance is S$200,000 and above.
These new rates are effective from February 1 2021.
4.3
185 Reviews
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Read Review About...
- [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 singpass
0
What are your thoughts?Reply
- 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?Reply
- Posted 24 Sep 2021
Purchased
OCBC 360 Account
It is easy to onboard with OCBC on this bank account. Interest rates have fallen since I signed up 2 years ago but it is still pegged to international interest rates so no gripes there. Even though I am no longer using this account, I think this is a decent account for fresh grads who are just starting out in the workforce. I stopped using it as I am deploying cash via other means which do not allow me to fully take advantage of OCBC 360. Would like to add that even the bank account closure process was seamless :)0
What are your thoughts?Reply
- Posted 31 Aug 2021
Purchased
OCBC 360 Account
[Salary Crediting] First account I set up after starting work. I'll credit my salary here and do the rest on my UOB account. Fuss free, although OCBC changes the terms and conditions quite frequently.0
What are your thoughts?Reply
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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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