Barely a few days after covering the DBS Multiplier Account, OCBC has come up with a rival product to capture this market share.
By offering up to 3.05% p.a., OCBC is no doubt the best in the market, but what are the T&Cs?
2. Get an additional 1% when you pay 3 bills per month online or through GIRO
3. Spend a minimum of $400 per month across all the OCBC Credit Cards
A. The bonus interest is for the first $50000 only. For the rich, look for better accounts elsewhere.
B. Initial deposit of $1000, and $3000 minimum per month or a $2 fall below fee will be charged each month (waived for first month)
All in all, this OCBC 360 account is one of the best programmes that have been created amongst its fellow competitors including Stanchart’s Esaver and DBS Multipler. So long as you earn a regular salary of $2000 (after CPF deductions), you get a base interest of 1.05%. The credit card spending of $400/month is easier to attain compared to Stanchart’s bonussaver $500/month (1.88% p.a.). What’s more, if you are an OCBC Frank card user, you get 6% a month on online spending for the first $1000, so spend wisely and get rewarded! Last but not least, if you pay your credit card bills online through OCBC, these are considered bill payments as well, so most people I know should be able to achieve 3.05% p.a.!