i dun quite get this statement. if you are referring to any payout from the account during the month. maintaning 100,500 would do. and 500 is used for payments, etc. wouldnt that still consider 100k and keep that in for 12 months and still benefit from the 4.1% i.e. 4,100 by end of the year?

why need 200k ?

guessing time...

0.2% + 1.2% (or 1.15%) *3

Anyone who had ocbc 360 at previous OPR revision (rate revised on 9th May 2019) can check, base interest rate follow daily balance (8 days 0.5% and 23 days 0.2%) while bonus interest use the revised rate (1.3% instead of 1.2%) for the entire monthly average balance (sum of daily balance for entire month divide number of days in the month)

Actually I thought they should give 21 days notice as per the 360 account tnc quoted below:

6.2. The Bank may, at its sole and absolute discretion, after giving 21 calendar days’ notice, modify or vary these terms and conditions by adding or supplementing, removing or withdrawing, suspending or otherwise changing any of these terms and conditions and benefits, including, but not limited to, the Base Interest, Bonus Interest, Board Rate, Bonus Interest Rates, Maximum Average Balance, etc. Such modification or variation may be notified to you via announcements posted at branch, the Bank’s website or in the mass media and the notice will take effect from the date set out in the notice.

https://www.ocbc.com.my/assets/pdf/Accounts...unt_TnC_ENG.pdf

so now SCB 4% is better that OCBC 3.6% ?

Well, May 9 they kept the 21 calender day deadline. This time not, let´s see what will happen.

pls write and keep us posted
the amount is not much but still this is consider cheating
1 customer cheat some they have so many customer sure cheat a lot

So sad, January interest only have 3.6% instead of 4.1% based on the amount average balance.

How come effective date is 29 January 2020 become 01 January 2020?   

OCBC 360 Account
Terms and Conditions
6. General conditions
6.2. The Bank may, at its sole and absolute discretion, after giving 21 calendar days’ notice, modify or vary these terms and conditions by
adding or supplementing, removing or withdrawing, suspending or otherwise changing any of these terms and conditions and
benefits, including, but not limited to, the Base Interest, Bonus Interest, Board Rate, Bonus Interest Rates, Maximum Average
Balance, etc. Such modification or variation may be notified to you via announcements posted at branch, the Bank’s website or in the
mass media and the notice will take effect from the date set out in the notice.

Definitely not 4.1% before 29th, they give less than that from 1-29th.

6.2. The Bank may, at its sole and absolute discretion, after giving 21 calendar days’ notice, modify or vary these terms and conditions by adding or supplementing, removing or withdrawing, suspending or otherwise changing any of these terms and conditions and benefits, including, but not limited to, the Base Interest, Bonus Interest, Board Rate, Bonus Interest Rates ...

anyway, i shoot another feedback form to follow up just in case they didn’t send me any letter..  at least I’ve written formal complaint.

got a call - basically they are insisting

1) interest rates change due to BNM OPR rate change is not subjected to 21 days notice

This is in accordance with Bank Negara Malaysia’s Guidelines on Product Transparency and Disclosure (Schedule 1, Section 2.3 (b) Change in interest rates) which states that:
• The Financial Service Provider (FSP) should notify customers of any revision to deposit rates.
• The change notice must be prominently displayed at the FSP’s business premises and website.

uncle dnt have 300k else i also open then can go there make noise
i stay puchong area and ocbc puchong got premier banking facilities too bad no money

Bnm called my dad (i dunno why they linked my email address to my dad's name. I checked my gmail sent email, it's my name and email).

Anyway, bnm emailed me a reply and ocbc will have an official reply in 14 days. Bnm will check and reply accordingly if necessary.

You private banking customer?

This is terrible. That means OCBC is just giving 3.6% for the whole of January. At the least, OCBC should have given 4.1% for the first 28 days.

He's not suggesting anything to you.
He's informing that there's no violation from OCBC side.
No further action required.

does this mean they given us the interest they owe us?

No.

This is basically covering backside for future, since they realise we have a point.