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