OCBC Frank Account
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OCBC FRANK is a simple "stash-and-park" type of Savings Account, suitable for students or individuals with no income.
The base interest rate per annum for OCBC FRANK savings account is 0.05% p.a. The highest possible interest rate accrueable goes up to 0.30% p.a. (previously 0.40% ). To be eligible for the bonus interest rates on top of the base, account holders should save up to a maximum of S$50,000 total in their FRANK account.
As of 2 May 2020, OCBC has revised their interest rates for FRANK Savings Account, the changes will be further explained in the section below
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OCBC will be charging its revised rates for OCBC FRANK Savings Account from 2 May 2020. This change will affect the range of total account balance and interest rates for the highest tier balance amount.
OCBC FRANK current rates (before 2 May 2020)
OCBC FRANK Revised Interest Rates from 2 May 2020
All these changes are illustrated in the table below
FRANK Account Current Rates
New FRANK Account Rates from 2 May 2020
0.20% p.a. for the first S$10,000
0.20% p.a. for the first S$25,000
0.30% p.a. for $10,001 - S$100,000
0.30% p.a. for the next S$25,000
0.40% p.a. for $100,001 - S$500,000
0.05% p.a. for any amount above S$50,000