OCBC Savings Accounts Singapore

OCBC offers a choice of 7 different savings accounts with varied features and benefits for specific requirements. You have accounts that do not require a minimum balance to be maintained or an initial deposit, some savings accounts can be opened on behalf of your kids, while others offer savings in foreign currencies.

Types of Savings Accounts Offered by OCBC

There are seven types of savings accounts offered by OCBC. They are as follows:

  • Monthly Savings Account: This account offers higher interest when you save on a monthly basis. Save from S$50 every month to earn additional interest.
  • FRANK Account: This is an account targeted at the youth with an interest of up to 0.4% p.a. There is no minimum balance requirement and no initial deposit.
  • Bonus+ Savings Account: This account offers an interest of up to 0.80% p.a. for a lengthy period when you make no withdrawals during that period.
  • 360 Account: Earn up to 3.05% p.a. interest on this savings account on maintaining a certain account balance and performing specific transactions such as having a salary credited through GIRO, paying bills, spending on OCBC credit cards, and investing or insuring.
  • Child Development Account: This is a savings account for newborns offering interest of 2% p.a. for up to S$36,000 in addition to cashback, cash credit and discounts when shopping with the Baby Bonus Card at participating merchants.
  • Global Savings Account: Choose from an option of saving in eight different currencies with interest earnings of up to 1% p.a. The account charges no fall-below fee and the option of receiving paper or e-statements.
  • OCBC Mighty Savers Account: This account is for children aged 16 and below offering an interest rate of up to 0.8% p.a. including the base and bonus rates.

Features and Benefits: Bonus Interest on the First S$70,000 Under Certain Conditions

Here is a list of features and benefits that you will get with OCBC savings account:

  • Earn attractive rate of interest and in some case even bonus rates.
  • Get minimum monthly savings.
  • Get discount on the premiums for parent and child coverage under the PA Protect Scheme.
  • For your endowment and protection plans, get cash gift of S$100.
  • Open a foreign currency savings account with a choice of 8 foreign currencies including - USD, AUD, EUR, GBP, HKD, CNH, CAD, and NZD.

Promotions: Get Cash Rewards When You Open Your Account online

When you open an OCBC savings account online and have your salary credited to this account, you will get cash reward of up to S$100 until 31 July 2018.

Fees Applicable on OCBC Accounts

The fees applicable to OCBC savings account are the fall below fee, service fee and cheque book fee. If you don’t meet the average daily balance for the month, a service fee starting from S$2 will be charged. This fee is waived on select accounts. The cheque book fee on some savings accounts are waived for 1 year, after which the fee will be S$10. The interest rates associated with OCBC savings account ranges from a 0.05% p.a. to 3.05% p.a.


    Q. What is it that you get with OCBC 360 that you will not get with other OCBC savings account?

    A. With the OCBC 360 account, you will get bonus interest rates when you perform any one or all of the following activities:

    • Invest or insure with OCBC
    • Spend using your OCBC credit card
    • Pay your bills through GIRO
    • Credit your salary through GIRO.
    • Save money in your account.

    Q. Who are eligible to open a FRANK Account with OCBC?

    A. Permanent Residents, citizens of Singapore and foreigners above the age of 16 are eligible to apply for a FRANK Account with OCBC.

    Q. What is the initial deposit required for a Bonus+ Savings Account?

    A. You will have to deposit an amount of at least S$10,000 in fresh funds when you open the Bonus+ Savings Account.

    Q. What is the minimum average daily balance for the month required for a Bonus+ Savings Account?

    A. The minimum average daily balance for the month required for a Bonus+ Savings Account is S$3,000.

    Q. What is the initial deposit required for a Monthly Savings Account?

    A. You do not have to deposit an initial amount in the OCBC Monthly Savings Account.

    Q. What is the maximum rate of interest that you can earn with OCBC Mighty Savers Account?

    A. You can earn an interest of up to 0.8% p.a. with OCBC Mighty Savers Account.

    Q. Can children below 16 years apply for OCBC Mighty Savers Account?

    A. Yes, children below 16 years can apply for OCBC Mighty Savers Account but a parent or legal guardian is required to open a joint Mighty Savers Account with the child.

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