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 OCBC 360 Savings Account - Up to 3.25% Interest !, Get higher interest on your savings acct

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Leroi2x
post Oct 23 2018, 08:15 AM

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QUOTE(Nom-el @ Oct 12 2018, 12:34 PM)
1) Yes, you can even transfer the money back to your OCBC 360 account after that if you want to since most banks are offering free IBFT nowadays.

2) You can transfer the money out immediately after depositing the RM500. You can even transfer more than RM500 if your balance is sufficient. As long as there is a RM500 deposit, you will get the 1.2% interest.

3) Actually, it is possible to register for OCBC online banking without a debit card. However, many staff are unaware of this so they might insist that it is necessary to have a debit card for that.
For OCBC, you cannot perform IBFT without a debit card.
If your intention is just to maximize the interest for OCBC 360, getting a debit card is more cost effective.
I find that very annoying too. Unfortunately, there is no way to reduce the OTPs as far as I know. You are right about using OCBC card to get the extra 1.2% interest. It is very easy to achieve nowadays and the cost can either be minimal or free depending on how it is used. Last time, it was harder to achieve and have to sacrifice something to get that extra interest.
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Hi

Would like to know ,would like to know why you say it's more cost effective about the debit card ,even if i already have their credit card?
I feel troublesome cant use ibft cox no debit card , thinking to get or not now
And how do u make the cost minimal or free ?mind to share?
LostAndFound
post Oct 23 2018, 11:14 AM

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QUOTE(Leroi2x @ Oct 23 2018, 08:09 AM)
Hi ,u using ibg or instant ya?
Coz i dont have debit card cant use instant
Thinking wanna go get back the debit card not ,else troublesome cant use instant
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What's wrong with IBG?
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post Oct 23 2018, 11:18 AM

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QUOTE(LostAndFound @ Oct 23 2018, 11:14 AM)
What's wrong with IBG?
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slower compared to instant
LostAndFound
post Oct 23 2018, 11:53 AM

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QUOTE(alexanderclz @ Oct 23 2018, 11:18 AM)
slower compared to instant
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In the context of OCBC 360.... a bit slower doesn't matter. Just need to do 3 transactions to get the 1.2%.
Leroi2x
post Oct 23 2018, 01:09 PM

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QUOTE(LostAndFound @ Oct 23 2018, 11:14 AM)
What's wrong with IBG?
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I mean does ibg count as bill payment?
Or it must be ibft ?
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post Oct 23 2018, 01:11 PM

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QUOTE(Leroi2x @ Oct 23 2018, 01:09 PM)
I mean does ibg count as bill payment?
Or it must be ibft ?
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yes. u can ibg for bill payment
MilesAndMore
post Oct 23 2018, 02:18 PM

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To those who recently changed or applied for the OCBC debit MasterCard. May I know if your OCBC debit MasterCard is silver in color or light orange ?
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post Oct 23 2018, 03:13 PM

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QUOTE(MilesAndMore @ Oct 23 2018, 02:18 PM)
To those who recently changed or applied for the OCBC debit MasterCard. May I know if your OCBC debit MasterCard is silver in color or light orange ?
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silver
MilesAndMore
post Oct 23 2018, 06:59 PM

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QUOTE(alexanderclz @ Oct 23 2018, 03:13 PM)
silver
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Thanks for the quick response.
Nom-el
post Oct 25 2018, 04:33 PM

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QUOTE(Leroi2x @ Oct 23 2018, 08:15 AM)
Hi

Would like to know ,would like to know why you say it's more cost effective about the debit card ,even if i already have their credit card?
I feel troublesome cant use ibft cox no debit card , thinking to get or not now
And how do u make the cost minimal or free ?mind to share?
*
Debit card annual fee is RM8 while the SST for credit card is RM25. So, debit card is more cost effective in this sense. However, if you can benefit from the credit card's benefits (rebate, discounts etc.), then it might be better to use the credit card as you can also pay back later (pay back by due date to avoid interest charges etc.).

As for how to make the cost minimal or free, need to find those accounts that allow for topup using credit cards / debit cards and free withdrawal (or with minimal fees). For e.g., e-wallets.
Leroi2x
post Oct 25 2018, 05:37 PM

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QUOTE(Nom-el @ Oct 25 2018, 04:33 PM)
Debit card annual fee is RM8 while the SST for credit card is RM25. So, debit card is more cost effective in this sense. However, if you can benefit from the credit card's benefits (rebate, discounts etc.), then it might be better to use the credit card as you can also pay back later (pay back by due date to avoid interest charges etc.).

As for how to make the cost minimal or free, need to find those accounts that allow for topup using credit cards / debit cards and free withdrawal (or with minimal fees). For e.g., e-wallets.
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Thanks bro
I think credit card would better as for world card have 1.2% cb while debit have ntg
Every month 500 = rm6

For withdrawal i cant find any ewallet can withdraw with free
But some of them come with minimal charge like boost or bp
Perhaps can enlighten me some
The Chauvinist
post Oct 27 2018, 09:52 AM

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Can we have a 360 account (conventional) AND 360-i account (Islamic) at the same time, or are we limited to either one only?

If yes, will both be linked to the same online account to be managed through OCBC internet banking?
Nom-el
post Oct 27 2018, 02:55 PM

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QUOTE(The Chauvinist @ Oct 27 2018, 09:52 AM)
Can we have a 360 account (conventional) AND 360-i account (Islamic) at the same time, or are we limited to either one only?

If yes, will both be linked to the same online account to be managed through OCBC internet banking?
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Yes, can have 1 of each. Both will be linked to the same online account.
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post Oct 27 2018, 02:56 PM

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QUOTE(Nom-el @ Oct 27 2018, 02:55 PM)
Yes, can have 1 of each. Both will be linked to the same online account.
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different debit card as well?
The Chauvinist
post Oct 28 2018, 04:01 PM

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QUOTE(Nom-el @ Oct 27 2018, 02:55 PM)
Yes, can have 1 of each. Both will be linked to the same online account.
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Great. Double the benefits.

QUOTE(alexanderclz @ Oct 27 2018, 02:56 PM)
different debit card as well?
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I believe should be different credit/debit card for conventional and different debit card for Islamic. OCBC doesn't have credit cards for Islamic.
ohcipala
post Oct 28 2018, 04:08 PM

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QUOTE(The Chauvinist @ Oct 28 2018, 04:01 PM)
Great. Double the benefits.
I believe should be different credit/debit card for conventional and different debit card for Islamic. OCBC doesn't have credit cards for Islamic.
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Why do you want 2 accounts? Is there a cap on the interest paid?
The Chauvinist
post Oct 28 2018, 08:16 PM

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QUOTE(ohcipala @ Oct 28 2018, 04:08 PM)
Why do you want 2 accounts? Is there a cap on the interest paid?
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The bonus interest is only up to first 100k. With 2 accounts, it's 200k. Now of course it is better to put money in promo FDs, but this is good for those who want instant liquidity with high FD-like interest.
ohcipala
post Oct 28 2018, 08:41 PM

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QUOTE(The Chauvinist @ Oct 28 2018, 08:16 PM)
The bonus interest is only up to first 100k. With 2 accounts, it's 200k. Now of course it is better to put money in promo FDs, but this is good for those who want instant liquidity with high FD-like interest.
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OK. Wasn't aware there's a cap
Nom-el
post Oct 29 2018, 04:12 PM

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QUOTE(alexanderclz @ Oct 27 2018, 02:56 PM)
different debit card as well?
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QUOTE(The Chauvinist @ Oct 28 2018, 04:01 PM)
Great. Double the benefits.
I believe should be different credit/debit card for conventional and different debit card for Islamic. OCBC doesn't have credit cards for Islamic.
*
One person can only have one debit card with OCBC. So, only one card will be issued but it can be linked with the two accounts. Make sure to set the account as primary account to get the bonus interest on debit card spending. Bonus interest is available for debit card / credit card spending for OCBC 360 Account but for OCBC 360 Account-i only debit card spending is eligible as there is no Islamic credit card offered by OCBC.

So, to get the maximum interest for both accounts, link the debit card to OCBC 360 Account-i as primary and use the credit card spending to qualify for bonus interest for OCBC 360 Account. This is only necessary if the monthly average balance in the account is more than 100k. Otherwise, it would be simpler to just use one account.
Ramjade
post Nov 1 2018, 01:15 AM

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Guys want to clarify a few points
1) the bonus interest of 3.6%p.a is is counted daily or at the end of the month?
2) if I were to do a IBFT to say bank A x3 for RM1, is it counted under bill payment or I must IBFT to Bank A, B and C?
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