OCBC Frank Reviews and Comparison - Seedly
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OCBC Frank

  • Overview
  • Reviews (5)
  • Questions (2)
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OCBC Frank

Up to 0.4% p.a.
INTEREST RATES
None
MIN. INITIAL DEPOSIT
None
MIN. AVG DAILY BALANCE

    OCBC Frank

    Up to 0.4% p.a.
    INTEREST RATES
    None
    MIN. INITIAL DEPOSIT
    None
    MIN. AVG DAILY BALANCE
Reviews (5)

4.2

5 Reviews

  • 5
    2
  • 4
    2
  • 3
    1
  • 2
    0
  • 1
    0

Read Review About...

low barrier

account market

student youth

saving account

market good

card student

card design

point opening

fancy card

thing lot

Most Recent

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  • Updated on 20 Sep 2019
    I love my Frank OCBC Debit Card šŸ’• I think it's a must-have for all students! Lots of great promotions/discounts and no annual fees~ Also first started investing with their BCIP.
    0 comments
    19
  • Posted on 19 Sep 2019
    Quite good saving account for student as it do not require any minimum balance and the design is very attractive.
    0 comments
    0
  • Posted on 19 Sep 2019
    Good card for student or youth for an alternative saving account as this card let you withdraw min $10.
    0 comments
    0
  • Posted on 19 Sep 2019
    A low barrier to entry account with 120 unique card designs to go with your account. The interest rate is less attractive compared to other accounts in the market but itā€™s a good way to attract youths/students to get involved in their banking needs
    0 comments
    0
  • Posted on 19 Sep 2019
    No point opening this account as there are much better account in the market, the only good thing is that they have a lot fancy card design for you to choose.
    0 comments
    0
Questions (2)

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Bank Account

Savings

OCBC

OCBC Frank

Standard Chartered

DBS Multiplier

Lky
Lky
Level 4. Prodigy
Updated 10h ago
You should move all your funds out of OCBC. You can consider keeping most of your savings in SCB JumpStart if it gives a higher interest than your DBS Multiplier and use DBS as the current account. You can always do instant FAST transfer between them! I keep my FRANK account with little to no balance as my savings like you are in accounts with higher interests, most likely to be cancelled before I turn 26. I use it mainly for withdrawals without my debit cards using the PayAnyone app

Investments

ETF

POSB

OCBC Frank

Unit Trust

Blue Chips

Hi anon, You'll want to understand your motive for investing. Whether or not to keep the Nikko ETF is depending on whether you feel that there is a better option. If there is, then yes, drop it and go on to the alternative. In fact, STI tends to be a very poor performer relative to a lot of other indexes out there, and I am still puzzled as to why many people think it's the best thing since sliced bread. Your motives will guide your decision. Looking for growth? Other markets like US have done better in the long run. Looking for dividend? Blue chips give 4+% and REITs 5+%. It's really not hard to see why STI isn't really here nor there. I'm sure you'll be able to find better options. Lastly, blue chips are basically stocks of big companies with good reputations. It doesn't mean that if a company is on the STI and is a blue chip, it is safe. Examples include Noble and Swiber. Unit trusts, however, are a collective investment whereby they have a lot of holdings and hence work similarly to an ETF. The difference is that the ETF just replicates whatever benchmark, but a UT aims to beat the benchmark and hence will be more selective in their holdings.

How to maximise the interest rate for OCBC Frank?

  • 0.2% p.a. if your account balance is between S$1 to S$10,000
  • 0.3% p.a. if your account balance is between S$10,001 to S$100,000
  • 0.4% p.a. if your account balance is between S$100,001 to S$500,000
  • 0% p.a. if your account balance is above S$500,000, because your money can earn better interest in other higher-yielding OCBC accounts

What OCBC Frank Offers

Best Suited for Students who has yet to have an income

  • 120 unique card designs for 120 different personalities
  • Contactless payment using mobile payments and Visa PayWave

Terms and fees for OCBC FRANK Account

  • Initial deposit: NIL
  • Citizenship status: Singaporeans, PRs and foreigners, age 16 to 25 years old
  • Minimum age to open account: 16
  • Minimum Average Daily Balance: NIL
  • Minimum Income: NIL
  • Service Fee: Free if you are below 26 years old; S$2 per month if average daily balance for the month falls below S$1,000, if your are 26 years old and above

PROMOTION - 1st November 2019 to 31st January 2020

  • Enjoy S$10 cash credit when you apply for the FRANK Account and FRANK Debit Card online via MyInfo or at any FRANK Stores.
  • Win 2x Cathay Pacific return tickets to Seoul, Tokyo or Taipei in our #FRANKTravels giveaway each month