OCBC 360 Account
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4.3
201 reviews
Claimed
This product is managed by OCBC Bank.
Summary
OCBC 360 Account
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.
- 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;
- 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 GIRO
- 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 product
- 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 product
- 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 banking
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
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.
- 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;
- 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 GIRO
- 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 product
- 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 product
- 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 banking
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
Reviews (201)
4.3
201 Reviews
5
106
4
62
3
23
2
8
1
2
Service Rating
Customer Support
4.4
Ease of online banking
4.6
Most Helpful
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
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Posted 04 Feb 2023
Purchased
OCBC 360 Account
[Terms and Conditions] [Interest] If I would recommend, pls do not apply for this... Placed $100k (with salary credit, increase $500 per month, spend $500 on credit card). Only to get $4+ in interest for 2 consec months:'( Thought first month could be my own fault, but after seeing same interest for second month, it's time to say byebye, feeling disappointed and without my $798.90 interest based on the calculator. (And take note will be charged to close the account <6mths or maintain below min balance) UOB on other hand, simple and not scammy. I received the promised interest! [Customer Service] Totally not helpful at all:( Keep asking me to wait to be reflected...1
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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 24 Oct 2022
Purchased
OCBC 360 Account
Straight-Forward, just do credit of salary of minimum $1.8K, average daily balance: $3K to avoid $2/- service fees0
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 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
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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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Thanks for sharing.