OCBC Bonus+ Savings Account Reviews and Comparison - Seedly
 

OCBC Bonus+ Savings Account

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  • Reviews (2)
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OCBC Bonus+ Savings Account

Up to 1.45% p.a.
INTEREST RATES
$5,000
MINIMUM INITIAL DEPOSIT
$3,000
MIN. AVE DAILY BALANCE

    OCBC Bonus+ Savings Account

    Up to 1.45% p.a.
    INTEREST RATES
    $5,000
    MINIMUM INITIAL DEPOSIT
    $3,000
    MIN. AVE DAILY BALANCE
Reviews (2)

4.0

2 Reviews

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opened account

touch money

account savings

savings touch

money emergency

emergency leave

leave generates

generates withdraw

withdraw money

money occasionally

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  • Opened this account for my back-up savings (which means I never ever touch this money at all unless some emergency happens). I usually just leave it alone and it generates an interest of 1.05% pa as I don't withdraw any money at all. Occasionally I will transfer $500 over to this account and that gives me an interest of 1.45% pa. Interest rates are- Base interest rate: 0.05% Monthly No Withdrawal Bonus interest rate: 1.00% Monthly Save ($500) and No Withdrawal Bonus interest rate: 0.40% However, from 2 December 2019 they have made changes to their interest rates. Revised interest rates from 2 Dec 2019- Base interest rate: 0.05% Monthly No Withdrawal Bonus interest rate: 0.70% Monthly Save ($500) and No Withdrawal Bonus interest rate: 0.70% This means that now I will only get an interest of 0.75% pa instead of the 1.05% pa I have been getting in the past which is quite a bummer. On the bright side, It's still an interest of 1.45% if I increase my savings balance by $500. Maybe some motivation to save more often for more interest haha.
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  • Opened the account a few years back Process was straightforward and simple (only a trip to the bank) Mainly used this for money that I won't be touching anytime soon Pro - Earn interest as long as no withdrawal made and amount deposit monthly
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How to maximise the interest rate for OCBC Bonus+ Savings Account?

Base interest rate(%) p.a.

The base interest rate per annum for OCBC Bonus+ Savings Account is 0.05%

Bonus Interest Rate(%) p.a

The bonus interest rate per annum for OCBC Bonus+ Savings Account comes with a few criteria:

  • 1.0% p.a. bonus when you do not make any withdrawals
  • Additional 0.4% p.a. bonus when you do not make any withdrawals and deposit at least S$500

Given that you don't withdraw and deposit a minimum of S$500 monthly, you earn 1.45% per year on your entire account balance.

Terms and fees for OCBC Bonus+ Savings Account

  • Initial deposit: S$5,000 in fresh funds (funds that are not transferred or withdrawn from existing OCBC Bank deposit accounts and re-deposited or funds in the form of OCBC Bank cheque/ cashier's order/ demand drafts)
  • Citizenship status: Singaporeans, PRs and foreigners
  • Minimum age to open account: 16
  • Minimum Average Daily Balance: S$3,000
  • Fall below fee: S$2
  • Early closure fee: None
  • Service Fee: S$2 per month if average daily balance for the month falls below S$3,000

PROMOTIONS - Ending 31 December 2019

  • Open your first OCBC bank account and get S$20 cash reward (Valid for Singaporeans and PR who open an OCBC account from 1 August - 31 December 2019. Limited to the first 600 customers per month)
  • Get S$20 CapitaVoucher for every S$10,000 fresh funds deposited. Fresh funds must be maintained for 6 months.