facebookOCBC 360 Account Reviews and Comparison - Seedly

Advertisement

Savings Accounts/OCBC 360 Account
Savings Accounts/OCBC 360 Account
4.3
197 reviews
claimed

Claimed

This product is managed by OCBC Bank.

Summary

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.

...see more

Popular Products

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

Reviews (197)

4.3

197 Reviews

5
104
4
61
3
23
2
8
1
1

Service Rating

Customer Support

4.4

Ease of online banking

4.6
      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 28 Jul 2022

      Purchased

      OCBC 360 Account

      Their customer service over the phone is decent. The user interface online is also normal but other than that, not much is standing out for me.

      0

      What are your thoughts?

      Posted 20 May 2022

      Purchased

      OCBC 360 Account

      Chose the 360 account only because of the interest rate tiers are suited for my needs. Easy to get interest on salary credit and increasing savings every month. No need to get credit card to be eligible for interest even though u can get more interest with the card. App can be annoying as it may not load sometimes even though it is updated. easy to use interface but not as easy DBS.

      0

      What are your thoughts?

      Posted 11 May 2022

      Purchased

      OCBC 360 Account

      ibanking platform and app interface is easy to use. would prefer if the average daily balance can be displayed on the app as well, rather than only on ibanking website.

      0

      What are your thoughts?

      Posted 24 Apr 2022

      Purchased

      OCBC 360 Account

      Decent UI/UX design on the app. Quite fuss free in general when using the account. Use it for salary crediting to earn extra interests. My only gripe is to maintain $3000 in the account at all times.

      0

      What are your thoughts?

      Posted 22 Apr 2022

      Purchased

      OCBC 360 Account

      [Fuss Free] How i choose this at the beginning was because it was easier to withdraw money from their atm........ BECAUSE not as long queue as posb/dsb!! but not that payments going digital, so .... u know :D Been using their mobile app for many years now and it works without any issue 👍thanks!👌😊.... can use face ID to login on my iPhone haha very convenient. [Online Banking] the payanyone app is a separate app that I need to download, wonder why they don't combine them..is DBS also like that? [Terms and Conditions] never read..lol [Customer Service] Their mobile app allows me to send message to them and they will get back to me in (a few days I think)

      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 16 Mar 2022

      Purchased

      OCBC 360 Account

      Rebates were good but now less attractive. Was super for dining and drinking as I had to spend for business expenses

      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?

    Discussions (0)

      No Posts Found.

      Popular Products

      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:

      1. Salary Bonus: Salary Crediting of at least S$1,800
      2. Save Bonus: increase your account balance by S$500 compared to the previous month
      3. Insure Bonus : Insure with OCBC through eligible financial products
      4. Invest Bonus: Invest with OCBC through eligible financial products
      5. 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 changes for OCBC 360 Account interest rates 2021

      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.

      Advertisement