If you are looking for a way to maximise your savings, opening an OCBC 360 joint account in Singapore may be the right choice for you. This account offers a range of benefits that can help you grow your savings and achieve your financial goals.
One of the main benefits of an OCBC 360 joint account is the high interest rates that it offers. By fulfilling certain criteria, such as crediting your salary and increasing your account balance, you can earn bonus interest rates of up to 4.45% per annum. This can help you earn more on your savings and reach your financial goals faster.
To apply for an OCBC 360 joint account in Singapore, you will need to meet certain eligibility criteria and provide the necessary documentation. Once your account is open, you can start using the various features and services that it offers to manage your finances and grow your savings.
Key Takeaways
- An OCBC 360 joint account in Singapore can help you maximise your savings and earn high interest rates.
- To apply for an account, you will need to meet certain eligibility criteria and provide the necessary documentation.
- Once your account is open, you can start using the various features and services that it offers to manage your finances and grow your savings.
Benefits of OCBC 360 Joint Account
If you’re looking for a joint account that offers a range of benefits, then the OCBC 360 Joint Account is definitely worth considering. This account offers a range of benefits that make it ideal for couples or families who want to save and earn interest together.
Earning Interest
One of the main benefits of the OCBC 360 Joint Account is the ability to earn interest on your savings. The account offers a base interest rate of 0.05% per annum, which may seem low, but it’s possible to earn up to 1.2% per annum in bonus interest. To earn the bonus interest, you need to fulfill certain criteria such as crediting your salary, spending on your OCBC 365 Credit Card, and investing with OCBC. This means that the more you save and transact, the higher your effective interest rate will be.
Convenient Account Management
The OCBC 360 Joint Account is also incredibly convenient to manage. You can easily access your account online through the OCBC Digital App, which allows you to view your account balance, transactions, and interest earned. You can also easily transfer funds between your joint account and other OCBC accounts, as well as pay your bills and make other transactions through the app. This makes it easy to manage your finances and stay on top of your savings goals.
In summary, the OCBC 360 Joint Account is a great option for couples or families who want to save and earn interest together. With the ability to earn bonus interest and convenient account management through the OCBC Digital App, this account offers a range of benefits that make it worth considering.
How to Apply for an OCBC 360 Joint Account
If you are looking to open an OCBC 360 Joint Account in Singapore, you will need to meet certain eligibility requirements and submit the necessary documents. Here’s how you can apply for an OCBC 360 Joint Account.
Eligibility and Required Documents
To apply for an OCBC 360 Joint Account, you must be a Singaporean or a foreigner with a valid Employment Pass, Student Pass, or Long-Term Visit Pass. You will need to provide the following documents:
- For Singaporeans and Permanent Residents: NRIC or Passport
- For foreigners: Passport, Employment Pass, Student Pass, or Long-Term Visit Pass
- SingPass (for online application)
Additionally, you will need to fulfill the following criteria:
- Minimum age of 18 years old
- Joint account holders must be at least 18 years old
- Each customer is only allowed to open one 360 Account where he/she is the Primary Account holder
Application Process
You can apply for an OCBC 360 Joint Account online through the OCBC Digital app or visit any OCBC branch in person.
To apply online, follow these steps:
- Download and open the OCBC Digital app
- Tap on “Sign up” and select “Joint account”
- Enter your personal details and upload the required documents
- Wait for your application to be processed
If you prefer to apply in person, visit any OCBC branch with the required documents and speak to a customer service representative.
Once your application is approved, you will receive your account details and can start using your OCBC 360 Joint Account. With features like high interest rates and cashback rewards, the OCBC 360 Joint Account is a great choice for couples or families looking to manage their finances together.
Maximising Your Savings
If you’re looking to maximise your savings, the OCBC 360 joint account is an excellent option. Here are some tips to help you make the most of your account.
Salary Credit and Payment Benefits
One of the easiest ways to maximise your savings with the OCBC 360 joint account is to credit your salary into the account. By doing so, you can earn bonus interest rates on your account balance. To qualify, you must credit a minimum of $2,000 per month into the account.
In addition to salary credit, you can also benefit from payment services such as GIRO and PayNow. By setting up automatic payments for your bills and expenses, you can save time and avoid late payment fees.
Boosting Interest with Insurance and Investments
Another way to maximise your savings with the OCBC 360 joint account is to take advantage of OCBC’s insurance and investment products. By insuring with OCBC or investing with OCBC, you can earn bonus interest rates on your account balance.
For example, by purchasing an eligible insurance product from OCBC, you can earn up to 1.2% p.a. bonus interest on your account balance. Similarly, by investing in an eligible investment product from OCBC, you can earn up to 1.2% p.a. bonus interest on your account balance.
It’s important to note that not all insurance and investment products are eligible for bonus interest rates. Be sure to check with OCBC to see which products qualify.
In conclusion, by crediting your salary, setting up automatic payments, and taking advantage of OCBC’s insurance and investment products, you can maximise your savings with the OCBC 360 joint account.
Account Features and Services
If you are looking for a joint account that offers a wide range of features and services, the OCBC 360 Account could be the perfect choice for you. Here are some of the features and services you can expect:
Digital Banking and Card Services
With the OCBC 360 Account, you will have access to a range of digital banking and card services. This includes a debit card that you can use to make purchases and withdraw cash at ATMs. You can also request a cheque book if you need it.
In addition, the account is compatible with a range of cards, including the OCBC 365, OCBC 90°N, OCBC NXT, and OCBC Rewards Card. This means that you can earn rewards and cashback when you use your card to make purchases.
Account Management Tools
Managing your account is easy with the OCBC 360 Account. You can access your transaction history and e-statements through the mobile banking app or internet banking. This makes it easy to keep track of your spending and savings.
The account also comes with a range of account management tools. For example, you can set up automatic savings plans to help you save money each month. You can also use the account to invest with OCBC, which could help you grow your savings over time.
Overall, the OCBC 360 Account is a great choice for anyone looking for a joint account with a range of features and services. With digital banking and card services, account management tools, and compatibility with a range of cards, this account is designed to make managing your finances easy and convenient.
Understanding the Terms and Conditions
When it comes to opening a joint account, it’s important to understand the terms and conditions. This section will provide you with an overview of the key terms and conditions for the OCBC 360 joint account in Singapore.
Interest Rates and Balance Caps
One of the main benefits of the OCBC 360 joint account is the bonus interest that you can earn. However, it’s important to note that there is a balance cap for the bonus interest. The balance cap is $70,000, which means that any balance above this amount will not earn bonus interest. Additionally, the bonus interest is only applicable to the first account holder.
Fees and Charges
The OCBC 360 joint account has a fall-below fee, which is charged if the account balance falls below the minimum balance. The minimum balance for the joint account is $3,000. The fall-below fee is $7.50 per month. It’s important to note that the fall-below fee is only applicable to the first account holder.
Another key fee to be aware of is the early account closure fee. If you close the joint account within 6 months of opening it, you will be charged an early account closure fee of $30.
Other Key Terms and Conditions
As the primary account holder, you can only open one OCBC 360 joint account. The signing mandate can be either sign singly or joint-alternate. It’s important to note that the primary account holder has the authority to make decisions regarding the account, including the ability to withdraw funds and close the account.
In conclusion, understanding the terms and conditions of the OCBC 360 joint account is essential to ensure that you make the most of the benefits and avoid any unnecessary fees. By keeping an eye on the bonus interest balance cap, minimum balance, and fall-below fee, you can ensure that you’re getting the most out of your joint account.
Frequently Asked Questions
How can you revel in the benefits of the OCBC 360 joint account’s interest rates?
By opening an OCBC 360 joint account, you can earn bonus interest rates of up to 2.45% per annum on your account balance. To enjoy these rates, you need to fulfil certain criteria, such as crediting your salary, saving more, insuring with OCBC, and investing with OCBC. The more criteria you fulfil, the higher your bonus interest rate will be.
What’s the thrill of opening an OCBC 360 joint account in Singapore?
The OCBC 360 joint account is a great way to manage your finances with your partner or family member. You can enjoy bonus interest rates on your account balance, as well as other perks such as cashback on your OCBC 365 Credit Card and discounts on various OCBC products and services.
Is there a minimum balance that you need to maintain in your OCBC 360 joint account to enjoy its perks?
Yes, you need to maintain a minimum balance of $3,000 in your OCBC 360 joint account to enjoy its perks. If your account balance falls below this amount, you will be charged a fall-below fee of $2 per month.
What are the fabulous perks of using an OCBC 365 Credit Card?
The OCBC 365 Credit Card offers a range of perks such as cashback on dining, groceries, petrol, and online shopping. You can earn up to 6% cashback on your spending, depending on the category. In addition, you can enjoy discounts on travel, entertainment, and wellness products and services.
Could you enlighten us on the minimum balance required for an OCBC 360 Account?
The minimum balance required for an OCBC 360 Account is $3,000. If your account balance falls below this amount, you will be charged a fall-below fee of $2 per month. However, this fee is waived for the first year of account opening.
Are you able to set up an OCBC joint account online, and if so, how?
Yes, you can set up an OCBC joint account online by visiting the OCBC website and filling out the online application form. You will need to provide your personal and contact details, as well as your joint account holder’s details. Once your application is approved, you can start enjoying the benefits of your OCBC 360 joint account.