If you’re looking for a premier banking experience in Singapore, OCBC Premier Banking may be the right choice for you. As a premier banking customer, you’ll receive a range of benefits, including access to exclusive investment opportunities, personalised financial planning, and preferential rates on loans and deposits.
One of the key benefits of OCBC Premier Banking is the higher interest rates you can earn on your deposits. For example, with the OCBC Premier Dividend+ Savings Account, you can earn up to 3.70% interest per year on deposits of at least S$2,000 per month with no withdrawals. You can also earn bonus interest rates by fulfilling certain criteria, such as spending on your OCBC Premier Voyage Card or investing in an OCBC Premier Investment product.
To qualify for OCBC Premier Banking, you’ll need to meet certain eligibility criteria, such as maintaining a minimum deposit balance of S$200,000 or having a minimum annual income of S$150,000. However, if you’re looking for a premium banking experience with attractive interest rates and a range of exclusive benefits, it may be worth considering OCBC Premier Banking in Singapore.
Key Takeaways
- OCBC Premier Banking offers a range of benefits, including access to exclusive investment opportunities, personalised financial planning, and preferential rates on loans and deposits.
- With the OCBC Premier Dividend+ Savings Account, you can earn up to 3.70% interest per year on deposits of at least S$2,000 per month with no withdrawals.
- To qualify for OCBC Premier Banking, you’ll need to meet certain eligibility criteria, such as maintaining a minimum deposit balance of S$200,000 or having a minimum annual income of S$150,000.
Understanding OCBC Premier Banking
If you’re looking for an exclusive banking experience that offers a range of benefits and perks, then you might want to consider OCBC Premier Banking. Here’s what you need to know about this premium service.
Eligibility Criteria
To be eligible for OCBC Premier Banking, you must meet certain requirements. These include:
- Having a minimum of S$200,000 in deposits and/or investments with OCBC Bank
- Being an accredited investor with OCBC Bank
- Meeting other eligibility criteria as determined by OCBC Bank
Benefits and Perks
One of the key benefits of OCBC Premier Banking is the higher interest rates offered on certain deposit accounts. For example, the OCBC Premier Dividend+ Savings Account currently offers an interest rate of 3.70% per year when you deposit at least S$2,000 a month and make no withdrawals.
In addition to higher interest rates, OCBC Premier Banking also offers a range of other benefits and perks. These include:
- Dedicated relationship managers who can provide personalised financial advice and assistance
- Exclusive access to investment opportunities and products
- Priority service at OCBC Bank branches and customer service centres
- Special rates and discounts on selected banking products and services
Overall, if you’re looking for a premium banking experience that offers a range of benefits and perks, then OCBC Premier Banking might be worth considering. However, it’s important to carefully consider the eligibility criteria and fees associated with this service before making a decision.
Interest Rates and Returns
As an OCBC Premier Banking customer, you can earn interest on your account balance. Let’s take a closer look at the different interest rates and returns available to you.
Base Interest Rates
The base interest rate for the OCBC Premier Banking account is 0.05% a year. While this may not seem like a lot, it’s important to note that this is just the base rate. There are additional interest tiers available that can help you earn more.
Premier Dividend+ Savings Account
One of the best ways to earn interest with OCBC Premier Banking is through the Premier Dividend+ Savings Account. This account offers a competitive interest rate of 3.70% a year, which is significantly higher than the base rate.
To qualify for this interest rate, you need to deposit at least $2,000 a month into the account and make no withdrawals. This account is a great option if you have a steady income and want to earn a higher interest rate on your savings.
Additional Interest Tiers
In addition to the Premier Dividend+ Savings Account, OCBC Premier Banking also offers several additional interest tiers that can help you earn more interest. These tiers include:
- Salary bonus interest: Up to 4.00% a year
- Save bonus interest: Up to 2.40% a year
- Spend bonus interest: Up to 0.60% a year
- Insure bonus interest: Up to 2.40% a year
- Invest bonus interest: Up to 2.40% a year
- Grow bonus interest: 2%
To qualify for these additional interest tiers, you may need to meet certain requirements, such as maintaining a minimum account balance or making regular deposits. Be sure to check the terms and conditions for each tier to see if it’s right for you.
Overall, OCBC Premier Banking offers a variety of interest rates and returns that can help you grow your savings. Whether you’re looking for a high-interest savings account or want to earn additional interest through other channels, there are plenty of options available to you.
Account Features and Requirements
Minimum Account Balance
To be eligible for OCBC Premier Banking, you must have a minimum account balance of S$200,000. This can be achieved by depositing funds into your OCBC Premier Savings Account. The minimum deposit required to open a savings account is S$1,000.
Deposit Insurance Scheme
Your deposits with OCBC Premier Banking are insured up to S$1,000,000 under the Deposit Insurance Scheme. This means that in the unlikely event that OCBC Bank fails, your deposits are protected up to S$1,000,000 per depositor per scheme member.
It is important to note that the Deposit Insurance Scheme only covers deposits held with a scheme member. Deposits held with non-scheme members are not covered.
In summary, to enjoy the benefits of OCBC Premier Banking, you need to maintain a minimum account balance of S$200,000 and your deposits are insured up to S$1,000,000 under the Deposit Insurance Scheme.
Currency and Foreign Exchange Options
If you’re looking to save or transact in foreign currencies, OCBC Premier Banking offers a wide range of options to help you manage your finances. Here are some of the currency and foreign exchange options available:
Foreign Currency Interest Rates
OCBC Premier Banking offers competitive interest rates on foreign currency deposits. These rates are updated daily, so you can be sure you’re getting the best deal. Deposit your foreign currency and watch your money grow with us.
Currency Exchange Services
OCBC Premier Banking offers convenient and secure foreign currency exchange services. You can exchange a range of foreign currencies, including AUD, CAD, CHF, CNH, EUR, GBP, HKD, JPY, NZD and USD, 24/7 via OCBC Digital. This makes it easy to manage your finances, whether you’re making overseas transfers, paying for travel expenses, or investing in foreign markets.
When you exchange currencies, it’s important to keep an eye on the exchange rates. OCBC Premier Banking offers competitive rates, so you can get the most out of your money. Plus, with our secure online platform, you can exchange currencies from the comfort of your own home.
If you’re looking to invest in foreign currencies, OCBC Premier Banking can help you make informed decisions. Our team of experts can provide you with the latest market insights and help you navigate the complexities of foreign exchange trading.
Overall, OCBC Premier Banking offers a range of currency and foreign exchange options to help you manage your finances. Whether you’re looking to save or transact in foreign currencies, our competitive rates and convenient services make it easy to achieve your financial goals.
Additional Banking Services
As an OCBC Premier Banking customer, you have access to a range of additional banking services that can help you make the most of your financial resources. Here are some of the investment and deposit opportunities available to you:
Investment Opportunities
OCBC offers a range of investment opportunities tailored to your risk appetite and investment goals. Whether you’re looking to invest in equities, bonds, or other financial instruments, OCBC’s team of experienced investment professionals can help you make informed investment decisions.
As a Premier Banking customer, you can also take advantage of exclusive investment opportunities that are not available to other customers. These opportunities include access to private equity funds, hedge funds, and other alternative investments.
Time and Fixed Deposits
If you’re looking for a safe and reliable way to grow your wealth, OCBC’s time and fixed deposits may be just what you need. With competitive interest rates and flexible tenures, these deposits are a great way to earn interest on your savings while keeping your money safe.
OCBC’s time deposits offer fixed interest rates for a set period of time, while its fixed deposits offer a higher interest rate in exchange for a longer lock-in period. Both types of deposits are FDIC-insured, so you can be sure that your money is safe and secure.
Whether you’re looking to invest in stocks, bonds, or other financial instruments, or simply looking for a safe and reliable way to grow your wealth, OCBC Premier Banking has the investment and deposit options you need to achieve your financial goals.
Frequently Asked Questions
What are the latest interest rates for OCBC Premier Savings accounts?
As of February 2024, the interest rate for your OCBC Premier Dividend+ Savings Account will be increased from 3.30% to 3.70% a year, when you deposit at least S$2,000 a month and make no withdrawals. Keep in mind that interest rates are subject to change and it’s always best to check with OCBC for the latest rates.
How do the fixed deposit rates compare for OCBC Premier Banking customers?
OCBC offers competitive fixed deposit rates for Premier Banking customers. The rates vary depending on the tenure and amount of the deposit. Visit the OCBC website or speak with a Premier Banking representative for the latest rates.
What are the eligibility criteria for joining OCBC Premier Banking?
To be eligible for OCBC Premier Banking, you must have a minimum of S$200,000 in deposits and/or investments with OCBC. You can also qualify if you have a minimum annual income of S$150,000 or a mortgage loan of at least S$1.5 million with OCBC.
Could you tell me about the benefits exclusive to OCBC Premier Banking members?
As an OCBC Premier Banking member, you’ll enjoy a range of exclusive benefits, including priority banking services, preferential rates on loans and deposits, access to exclusive events and promotions, and a dedicated Premier Banking Relationship Manager to assist you with your financial needs.
What enticing welcome gifts can new OCBC Premier Banking clients expect?
OCBC often offers welcome gifts to new Premier Banking clients. These gifts can vary depending on the promotion, but in the past, they have included luxury watches, airline tickets, and cash rewards. Be sure to check with OCBC for the latest welcome gift offers.
How does the OCBC Premier EasiSave account’s interest rate stand out?
The OCBC Premier EasiSave account offers a competitive interest rate of 0.05% per annum on your deposits. What sets this account apart is that you can earn an additional 0.05% per annum when you deposit a minimum of S$50 and make no withdrawals that month. This bonus interest rate is exclusive to OCBC Premier Banking customers.