The OCBC 360 Savings Account is a deposit account that offers an online banking service together with e-statements. You also have the option of getting a chequebook and you will get a base interest of 0.05% per year on the whole account balance. With the OCBC 360 Savings Account, you can enjoy bonus savings account interest rates when you do any or all of these:
- Save in your account.
- Purchase an insurance or invest with OCBC.
- Spend using your OCBC credit card.
- Pay bills online or via GIRO.
- Credit your salary via GIRO.
OCBC 360 Account Promotional Deals
If you open your first OCBC 360 Account online through MyInfo, you will get a cash reward of S$20. If you are fortunate enough, you have a chance of being among three lucky winners to win a cash prize of S$10,000. This promotional deal is valid only for citizens of Singapore and Permanent Residents and will be applicable only until 31 December 2018.
How to Earn Bonus Interest Rates?
On the first S$70,000 you deposit in your account, you will earn bonus interest rates when you do any or all of these:
- Enjoy a bonus interest of up to 1.5% per year when you credit a minimum salary of S$2,000 through GIRO.
- Get a bonus interest of up to 0.6% per year when you spend a minimum of S$500 using OCBC credit cards.
- Enjoy a bonus interest of up to 0.6% per year when you pay a minimum of three bills online or through GIRO with a total amount of S$150. However, multiple payments made to the same bill in a calendar month will be counted as a single payment.
- Get a bonus interest of up to 1.2% per year when you invest or insure with OCBC. Earn 0.6% or 1.2% for one year, based on the qualifying sum.
- Enjoy a bonus interest of 1% per year of the first S$70,000 if your account balance is S$200,000 (average daily balance in your account) or more.
OCBC 360 Account Interest Rates
With the OCBC 360 Savings Account, you will get two sorts of interest on your account each month. You will get a base interest that will be accrued on a daily basis on your account's balance at the end of the day and you will get this at the month’s end. In addition, you will get a bonus interest. If your current month’s balance is S$90,000, the bonus interest earned will be as follows:
|Credit a minimum salary of S$2,000 through GIRO||S$71.34|
|Make three bill payments of at least S$150||S$17.83|
|Spend a minimum of S$500 on OCBC credit cards||S$17.83|
|Insurance premium or investment amount of S$8,000/S$40,000||S$71.34|
|Total interest per month||S$178.34|
Note: The figures given above are only for calculation purposes. Actual results may vary.
The bonus interest earned will be reflected in your statement, internet banking and mobile banking transaction history as follows:
- 360 Save Bonus
- 360 Wealth Bonus
- 360 CC Spend Bonus
- 360 Payment Bonus
- 360 Salary Bonus
If you cancel your account before the bonus interest is credited, the previous month’s bonus interest will be forfeited.
Minimum Requirements to Open 360 Account
Before you apply for this account, you will have to consider the following things:
- You must be at least 18 years old at the time of application.
- Singapore nationals, Permanent Resident or E-pass and S-Pass holders can apply for this account.
- The minimum initial deposit is S$1,000.
- The minimum average daily balance for the month is S$3,000.
- The fall below fee is S$2 which is waived for the first year.
How Can You Apply?
There are three ways to apply for this account:
- Singapore citizens and Singapore Permanent Residents have the option of opening the account immediately through MyInfo.
- If you currently have a savings account or current account with OCBC you can log in through OCBC’s online banking and your account will be opened within 1 business day.
- You can also visit any OCBC branch together with all the necessary documents and your account will be opened immediately.
Frequently Asked Questions
Q. What are the financial products which are excluded from wealth bonus?
A. The financial products that do not qualify for wealth bonus are as follows:
- OCBC Blue Chip Investment Plan
- Foreign Exchange
- Financing Facility
- Dual Currency Returns
- Cash Equities
Q. What cards are excluded from the credit card spend bonus?
A. The following cards will not qualify for the credit card spend bonus:
- Private label cards
- Business cards
- Corporate cards
- ATM cards
- Debit cards
Q. Are there any payments that are not included with payment bonus?
A. You will be eligible for the bonus interest rates only with payments made using Pay Any Card, Pay Any Bill or GIRO. Other channels like eNETS, FAST, ATMs, SAM, and AXS do not qualify for this interest.
Q. Will I continue to get wealth bonus when my investments mature or if I sell them?
A. Yes, you will continue to get bonus interest even after the investment matures or if you sell them.
Q. What transactions are excluded from the credit card spend bonus?
A. The following transactions do not qualify for the credit card spend bonus:
- Fees and charges
- Fund transfers
- Cash advance
- Balance transfers
Q. When will I get the wealth bonus?
A. You will get the wealth bonus for twelve successive months after the purchase post free look period or two weeks, whichever is later.
You can open only one 360 Savings Account where you are the chief account holder. If you have more than one 360 account, you will not be eligible for any additional 360 account opened afterwards.