Have you factored in the sales charges it is at minimum 1.88% everytime you invest not mentioned annual management fee

Penny wise pound foolish when you actually throwing away money to the bank 3 times more of what you gain 🤦‍♀️

Sales charge is only 1.88% of the rm500, vs. 0.49% gain on rm100,000. Please do your math and and prove how it is inferior.

It is provided only if everyone has 100k

Even if it is 50k you are just breaking even paying 4% in sales charges and fees over 6000 on ut yearly 🤦‍♀️

It is just silly over rm250 in gain yearly for 0.49% for 100k while your UT is losing way more than that 🤦‍♀️

You're twisting numbers to justify your incorrect statement. The scenario is UT of rm500 (not rm6,000) to gain extra 0.49% on a rm100k savings deposit (which btw isn't rm250). Why would anyone invest more than rm500?

The numbers speak for themselves.

The calculation are yearly and remember not all UT are minimum 500 monthly as some are as high as 1000 🤦‍♀️

OCBC are not stupid enough to shoot themselves in their foot as when they are giving out this promotion they will have to earn back through other means in another way hence sales charges 🤦‍♀️

You can go ahead and throw your money 👏 Only those who bought into those UT will know why

why am i not able to tick the boxes to setup jompay biller?

PSA:
0.49% bonus interest is for first month only so if you have RM100k it is an additional rm40.83.

Buying rm500 in UT with published 1.88% sales charge is RM9.40. No redemption fees.

OCBC Malaysia Introduces Kill Switch To Protect Compromised Accounts and Cards https://www.lowyat.net/2022/291053/ocbc-mal...ia-kill-switch/

We have updated the OCBC Credit Card Terms and Conditions on the list of transactions that are excluded for cashback and Voyage Miles calculation, as listed below. This update will take effect from 20th January 2023 onwards
https://www.ocbc.com.my/assets/pdf/Cards/Re...C_20Jan2023.pdf

Luckily ewallet not excluded.

2.1% only? So small

Otherwise how they gonna make any money 🤦‍♀️

What's 2.1% ?

this 1???

https://www.ocbc.com.my/personal-banking/ac...flex/index.html

You're talking about the Flex account. This thread is about the 360 account, which currently is at 3.4% conditional rate.

From your link, go one step up, you'll see all the accounts available in OCBC - https://www.ocbc.com.my/personal-banking/accounts/index.html

As life gets in the way and I forgot to cancel my card. But gratefully the RM100 annual fee was waived automatically.

Sadnya, government txn also excluded already.

3.4% or 3.1%?

3.4% for new accounts under their 90th anniversary promotion, for 3 months. Then it goes back to 3.1%

Just found out that OCBC 360 now has an rm20 minimum balance requirement. Found out the hard way as my OCBC account is only used for standing instruction for my housing loan and turns out the loan repayment was rejected.

Did OCBC sent out any notification on this?