The OCBC Global Savings Account offers customers the option of opening the account in eight different currencies. This is ideal for people who have been working in other countries, or have earnings in another currency.
Features and benefits of OCBC Global Savings Account
There are several features and benefits of opening this account, as you can see below:
- You can open the account in these currencies – Canadian dollar (CAD), US dollar (USD), Australian dollar (AUD), New Zealand dollar (NZD), Hong Kong dollar (HKD), Euro (EUR), Great British Pound (GBP) and Chinese Yuan (CNH).
- You can earn an interest of 1% p.a. on select currencies.
- The minimum initial deposit as well as the minimum balance to earn interest is 50,000 for HKD and 5,000 for all other currencies.
To be eligible for OCBC Global Savings Account, you will have to fulfil the following conditions:
- You must be at least 18 years or older.
- You can be a foreigner, Permanent Resident or a Singaporean.
The interest offered on various currencies is given in the table below:
|Currency||The initial 100,000 units||Next 250,000 units||Next 650,000 units||1 million units and higher|
|The initial 500,000 units||Next 1.5 million units||Next 3 million units||5 million units and higher|
|Chinese Yuan Offshore (CNH)||0.20%||0.20%||0.25%||0.50%|
Please note: Japanese Yen and Swiss Franc deposits are no longer accepted. The rate of interest mentioned here can change as per bank’s discretion. Existing accounts with CHF and JPY balances presently do not earn any interest.
Fees and charges
There is no fall below fee or any other hidden charges.
How to apply
To open an OCBC Global Savings Account, you will have to visit the nearest branch of the OCBC bank and bring the following documents: