If you’re looking for a high-interest savings account in Singapore, the OCBC 360 Account is one of the best options available. With a maximum interest rate of up to 4.05% p.a., it offers a great way to grow your savings. But did you know that you can earn even more interest with the OCBC 360 Spend Bonus?
To earn the Spend Bonus, all you need to do is spend at least $500 in total across your personal OCBC Credit Card(s) such as 365, Titanium, Platinum, FRANK, Robinsons, Plus!, Best Denki and 90 °N. You’ll need to be the primary account holder of the 360 Account as well as the Principal Cardmember of the eligible OCBC Credit Card(s). By meeting these requirements, you can earn bonus interest on top of the base interest rate.
Maximising your bonus interest is a great way to grow your savings faster. By understanding how the OCBC 360 Account works and taking advantage of the Spend Bonus and other bonus interest opportunities, you can make the most of your savings. In this article, we’ll take a closer look at the OCBC 360 Spend Bonus and how you can use it to increase your savings.
Key Takeaways
- The OCBC 360 Account is a high-interest savings account in Singapore that offers a maximum interest rate of up to 4.05% p.a.
- The OCBC 360 Spend Bonus allows you to earn bonus interest by spending at least $500 in total across eligible OCBC Credit Cards.
- By understanding the OCBC 360 Account and taking advantage of bonus interest opportunities, you can maximise your savings and grow your wealth faster.
Understanding OCBC 360 Account
If you’re looking for a high-interest savings account in Singapore, the OCBC 360 Account is definitely worth considering. With the potential to earn up to 4.65% interest per year, it’s one of the most competitive savings accounts available.
Key Features
The OCBC 360 Account is a deposit account that rewards you with bonus interest when you fulfill certain criteria. Here are the key features of the account:
- Base interest rate: 0.05% p.a.
- Bonus interest rates: up to 4.6% p.a.
- Effective interest rate (EIR): up to 3.45% p.a.
- Average daily balance: S$3,000
- Bonus interest balance cap: S$70,000
To earn bonus interest, you have to fulfill at least one of the following criteria:
- Credit your salary through GIRO/PayNow via GIRO
- Spend at least S$500 on your OCBC credit card
- Save and increase your account balance
- Insure with OCBC
- Invest with OCBC
Eligibility Criteria
To open an OCBC 360 Account, you must meet the following eligibility criteria:
- Minimum age: 18 years old
- Nationality: Singaporeans, PRs, E-Pass & S-Pass holders
- Initial deposit: S$1,000
- Minimum balance (monthly): S$3,000
- Fall-below fee: S$2 (waived for the 1st year)
It’s important to note that the bonus interest rates are subject to change and there are certain terms and conditions that apply. Be sure to read the fine print before opening an account.
Overall, the OCBC 360 Account is a great option for those looking to earn higher interest on their savings. With its competitive interest rates and flexible criteria, it’s definitely worth considering.
Maximising Bonus Interest
If you’re looking to maximise the bonus interest on your OCBC 360 account, there are a few things you can do to increase your earnings. Here are some tips to help you get the most out of your account.
Salary Crediting
One of the easiest ways to earn bonus interest on your OCBC 360 account is by crediting your salary. By doing so, you can earn up to 1.2% p.a. bonus interest on the first S$35,000 of your account balance. This is a great way to earn extra interest without having to do anything extra.
Credit Card Spending
Another way to earn bonus interest on your OCBC 360 account is by using your OCBC credit card. By spending at least S$500 in a calendar month, you can earn up to 0.6% p.a. bonus interest on the first S$35,000 of your account balance. To qualify for this bonus interest, you must be the primary account holder of the 360 account as well as the Principal Cardmember of the eligible OCBC Credit Card(s).
Increase Savings
To earn even more bonus interest on your OCBC 360 account, you can also increase your savings. By maintaining or increasing your account balance, you can earn up to 1.2% p.a. bonus interest on the first S$70,000 of your account balance. This means that the more you save, the more you can earn in bonus interest.
By combining these strategies, you can earn up to 4.05% p.a. bonus interest on the first S$100,000 of your account balance. This is a great way to grow your savings and earn extra interest at the same time. So, start crediting your salary, using your OCBC credit card, and increasing your savings to maximise your bonus interest on your OCBC 360 account.
Wealth Management with OCBC
Managing your wealth can be a daunting task, but with OCBC, you can take advantage of their wealth management services to help you make the most of your money. OCBC offers a range of investment and insurance products that can help you grow your wealth and protect it from unforeseen circumstances.
Insurance Products
OCBC offers a range of insurance products that can help you protect your wealth. These products include life insurance, health insurance, and general insurance. With life insurance, you can ensure that your loved ones are taken care of in the event of your untimely demise. Health insurance can help you cover the cost of medical expenses, while general insurance can protect your assets, such as your car or home.
Investment Opportunities
OCBC also offers a range of investment opportunities that can help you grow your wealth. These investment products include unit trusts and structured deposits. Unit trusts are a type of investment fund that pools money from multiple investors to invest in a range of assets, such as stocks, bonds, and property. Structured deposits are a type of investment that offers a guaranteed return on your investment over a fixed period of time.
When it comes to investing, it’s important to remember that there are risks involved. While investing can help you grow your wealth, it’s important to do your research and choose investments that are suitable for your risk appetite and investment goals.
With OCBC’s wealth (insure) and wealth (invest) bonus interest categories, you can earn bonus interest on your OCBC 360 Account balance when you insure or invest with OCBC. This is a great way to grow your wealth while also taking advantage of OCBC’s wealth management services.
In conclusion, OCBC offers a range of investment and insurance products that can help you manage your wealth. With their wealth (insure) and wealth (invest) bonus interest categories, you can earn bonus interest on your OCBC 360 Account balance when you insure or invest with OCBC. So why not take advantage of OCBC’s wealth management services and start growing your wealth today?
OCBC Credit Card Rewards
If you’re looking for a credit card that rewards you for your spending, then OCBC has a range of options for you. Here are three of their most popular cards:
OCBC 365 Credit Card
The OCBC 365 Credit Card is a great option if you’re looking to earn cashback on your everyday spending. With this card, you can earn up to 6% cashback on dining, groceries, land transport, online travel, recurring telco and electricity bills, and fuel spend at all petrol service stations locally and overseas. You’ll also earn 0.3% cashback on everything else.
To qualify for the cashback, you need to spend a minimum of $800 per month. If you’re a big spender, hitting a $1,600 minimum spend will unlock up to $160 cashback.
OCBC Titanium Rewards Card
If you’re a fan of shopping, then the OCBC Titanium Rewards Card is the one for you. With this card, you can earn 4 miles (or 10X OCBC$) per $1 spent on clothes, shoes, bags, and department stores both locally and overseas. You’ll also earn 4 miles (or 10X OCBC$) per $1 spent on baby and children’s wear, electronics and gadgets, and at online merchants such as Amazon and Lazada.
To qualify for this card, you need to have a minimum income of $30,000 per annum. The annual fee is $192.60, but it’s waived for the first two years.
OCBC 90°N Card
The OCBC 90°N Card is a great option if you’re a frequent traveller. With this card, you can earn up to 8 miles (or 20X OCBC$) per $1 spent on overseas spend, including flights, hotels, and travel agencies. You’ll also earn 1.2 miles (or 3X OCBC$) per $1 spent on local dining, transport, and online travel bookings.
To qualify for this card, you need to have a minimum income of $50,000 per annum. The annual fee is $192.60, but it’s waived for the first two years.
Overall, OCBC has a range of credit cards that can help you earn cashback or rewards on your spending. Whether you’re a foodie, a shopaholic, or a frequent traveller, there’s a card for you.
Applying for OCBC 360 Account
If you are a new-to-OCBC customer, applying for an OCBC 360 Account is easy and straightforward. You can apply for an account online, at any OCBC Bank branch, or through the OCBC mobile app. The application process takes around 10 minutes to complete, and you will need to provide some personal information, such as your identification documents and contact details.
Once you have opened your OCBC 360 Account, you can start earning bonus interest by fulfilling any of the bonus interest categories. These categories include salary crediting, credit card spending, insurance premiums, and investments. To earn the Spend bonus interest, you will need to spend at least $500 in total across your personal OCBC Credit Card(s) such as 365, Titanium, Platinum, FRANK, Robinsons, Plus!, Best Denki, and 90°N. You need to be the primary account holder of the 360 Account as well as the Principal Cardmember of the eligible OCBC Credit Card(s).
There are no monthly fees for the OCBC 360 Account, and you can enjoy bonus interest rates of up to 1.6% p.a. on your account balance. As a new-to-OCBC customer, you can also enjoy additional cash rewards of up to $108 when you open a 360 Account and credit your salary within 2 months. This promotion ends on 29 February 2024, and terms and conditions apply.
To be eligible for the OCBC 360 Account, you must be at least 18 years old and have a valid identification document. You must also be a Singaporean citizen, Permanent Resident, or foreigner with a valid employment pass or work permit. If you are a foreigner, you will need to provide additional documents, such as your passport and employment pass.
In conclusion, the OCBC 360 Account is a great option for those who want to earn bonus interest on their savings and enjoy additional rewards. With easy application and eligibility requirements, you can start earning bonus interest today.
Frequently Asked Questions
How can you maximise your interest earnings with OCBC 360’s spend bonus?
To maximise your interest earnings with OCBC 360’s spend bonus, you need to spend at least $500 on your OCBC 365 Credit Card, OCBC Titanium Rewards Card or OCBC Frank Credit Card. This will earn you an additional 0.3% interest per year on your account balance. You can also earn an extra 0.6% interest per year if you spend a total of $1,000 or more on any of these cards.
What are the exciting benefits of using the OCBC 365 Credit Card in conjunction with the 360 account?
By using the OCBC 365 Credit Card in conjunction with the 360 account, you can earn up to 6% cashback on your daily expenses, including dining, groceries, petrol and more. Additionally, you can earn up to 3.2% interest per year on your account balance when you meet the requirements for the 360 account’s bonus interest.
Could you elucidate the steps to qualify for the OCBC 360 save bonus?
To qualify for the OCBC 360 save bonus, you need to increase your account’s average daily balance by at least $500 from the previous month’s average daily balance. This will earn you an additional 0.3% interest per year on your account balance.
What distinguishes the OCBC 360 account from the Bonus Saver account?
The OCBC 360 account offers a higher interest rate and more ways to earn bonus interest compared to the Bonus Saver account. With the 360 account, you can earn bonus interest by crediting your salary, spending on your credit card, saving and investing with OCBC, and purchasing insurance from OCBC.
Is the OCBC 360 account a worthwhile choice for managing your savings?
The OCBC 360 account is a great choice for managing your savings as it offers a competitive interest rate and multiple ways to earn bonus interest. Additionally, it offers a range of benefits, including cashback on your daily expenses and discounts on dining and entertainment.
Can you provide an overview of the terms and conditions for earning bonus interest with OCBC 360?
To earn bonus interest with OCBC 360, you need to meet the requirements for each bonus category. This includes crediting your salary, spending on your credit card, saving and investing with OCBC, and purchasing insurance from OCBC. Additionally, there are minimum and maximum amounts for each bonus category, and the bonus interest rates may change from time to time. Be sure to check the terms and conditions for the latest information.