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

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taiping...
post Sep 15 2019, 01:43 PM

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My FD matures in mid nov... thinking of putting into OCBC 4.1%. May put into this long term and also aware of the 3 conditions need to b met. And also max input is rm100k. Am tired of chasing after FD
JokerAce
post Sep 15 2019, 04:42 PM

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rojakwhacker
post Sep 15 2019, 05:04 PM

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QUOTE(JokerAce @ Sep 15 2019, 04:42 PM)
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Term and condition:
https://www.ocbc.com.my/personal-banking/Ca...-Conditions.pdf
cklimm
post Sep 17 2019, 07:29 AM

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QUOTE(rojakwhacker @ Sep 13 2019, 10:52 AM)
For me, hmm.gif
Con:
- Deposit RM3k per month (tough)
- Invest/Insurance payment (tough)
- Campaign 6% interest end 31 December 2019 (may be renewed).

Pro:
- Spend RM1k by credit card
- Total 6% interest only if meet all 3 conditions
- Debit card withdraw waived at ALL atm in malaysia.
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I will say that, assuming 100k (Max) in that account, do everything required, will make you 6000 a year (IF ceteris paribus);
end up being only paying RM6300 (12000-6000+300) to have RM12k in unit trust account.

Even if the investment turned sour, you need to lost like 50% in unit trust before seeing red, not to mention such occurence is rare, especially when buying monthly.

Verdict: should they choose to renew next year, I shall move some dough from of ASM into this.

Caveat: What if they made ewallet top up by card ineligible someday in future? what if they choose not to extend this Jan 1?
Ramjade
post Sep 17 2019, 07:52 AM

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QUOTE(cklimm @ Sep 17 2019, 07:29 AM)
I will say that, assuming 100k (Max) in that account, do everything required, will make you 6000 a year (IF ceteris paribus);
end up being only paying RM6300 (12000-6000+300) to have RM12k in unit trust account.

Even if the investment turned sour, you need to lost like 50% in unit trust before seeing red, not to mention such occurence is rare, especially when buying monthly.

Verdict: should they choose to renew next year, I shall move some dough from of ASM into this.

Caveat: What if they made ewallet top up by card ineligible someday in future? what if they choose not to extend this Jan 1?
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You need to count how much they charging for unit trust transaction. If 5%, don't think is worth it to transfer your ASM since now ASM gives min 5% returns.
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post Sep 17 2019, 08:08 AM

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if I have a ocbc credit card, can I cancel the debit card? will I still have access to internet banking?
rojakwhacker
post Sep 17 2019, 08:48 AM

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QUOTE(alexanderclz @ Sep 17 2019, 08:08 AM)
if I have a ocbc credit card, can I cancel the debit card? will I still have access to internet banking?
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Cancel debit card is possible or just left it expired. No debit card no instant transfer but can do ibg. Some user report can use instant transfer without debit card so not sure how it works.
mamamia
post Sep 17 2019, 09:00 AM

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QUOTE(rojakwhacker @ Sep 17 2019, 08:48 AM)
Cancel debit card is possible or just left it expired. No debit card no instant transfer but can do ibg. Some user report can use instant transfer without debit card so not sure how it works.
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I didn’t get any debit card since day 1.. but no issue doing instant transfer, maybe they upgraded their system. But their daily limit is only 30k, where most of the other bank is 50k
rojakwhacker
post Sep 17 2019, 09:13 AM

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QUOTE(mamamia @ Sep 17 2019, 09:00 AM)
I didn’t get any debit card since day 1.. but no issue doing instant transfer, maybe they upgraded their system. But their daily limit is only 30k, where most of the other bank is 50k
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Rm30k is fine but onetoken app is required to transfer out amount above rm10k. Onetoken app does not work for some user which i not sure why. i havent yet to install due to response from user not able to login without receiving otp. So debit card have a play in this other than transfer below rm10k. biggrin.gif
rojakwhacker
post Sep 17 2019, 09:13 AM

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--double post--

This post has been edited by rojakwhacker: Sep 17 2019, 09:13 AM
Ramjade
post Sep 17 2019, 09:44 AM

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QUOTE(rojakwhacker @ Sep 17 2019, 09:13 AM)
Rm30k is fine but onetoken app is required to transfer out amount above rm10k. Onetoken app does not work for some user which i not sure why. i havent yet to install due to response from user not able to login without receiving otp. So debit card have a play in this other than transfer below rm10k. biggrin.gif
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I never need any one token for withdrawal if > RM100 via online transfer.

This post has been edited by Ramjade: Sep 17 2019, 09:44 AM
vanitas
post Sep 17 2019, 10:08 AM

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QUOTE(Ramjade @ Sep 17 2019, 07:52 AM)
You need to count how much they charging for unit trust transaction. If 5%, don't think is worth it to transfer your ASM since now ASM gives min 5% returns.
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They charge sales charge of 1k monthly for unit trust, but you get 100k 6% of guaranteed interest. Please enlighten me why it is not worth.
vanitas
post Sep 17 2019, 10:11 AM

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QUOTE(cklimm @ Sep 17 2019, 07:29 AM)
I will say that, assuming 100k (Max) in that account, do everything required, will make you 6000 a year (IF ceteris paribus);
end up being only paying RM6300 (12000-6000+300) to have RM12k in unit trust account.

Even if the investment turned sour, you need to lost like 50% in unit trust before seeing red, not to mention such occurence is rare, especially when buying monthly.

Verdict: should they choose to renew next year, I shall move some dough from of ASM into this.

Caveat: What if they made ewallet top up by card ineligible someday in future? what if they choose not to extend this Jan 1?
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This is exactly my thought, it might be worth if one keep 100k inside the saving account. But I will wait till next year to find out more on unit trust (esp sales charge) offered by Standard Chartered.
Sumofwhich
post Sep 17 2019, 12:18 PM

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If wanna cancel debit card, warrants a visit to ocbc right? Replace as a non-annual fee ATM card?
rojakwhacker
post Sep 17 2019, 12:27 PM

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QUOTE(Sumofwhich @ Sep 17 2019, 12:18 PM)
If wanna cancel debit card, warrants a visit to ocbc right? Replace as a non-annual fee ATM card?
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Visit to bank, yes. Not sure about there's any non-annual fee ATM card (asked before no such card in OCBC).
cklimm
post Sep 17 2019, 08:36 PM

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QUOTE(Ramjade @ Sep 17 2019, 07:52 AM)
You need to count how much they charging for unit trust transaction. If 5%, don't think is worth it to transfer your ASM since now ASM gives min 5% returns.
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Dude, you are right, its minimum 2.5%, up to 5%. it brings the effective rate down to 5.4%, assuming no price movement of unit trust, guess we will take some fixed income fund to make up for the charges.
https://www.sc.com/global/av/bn-kyir-unit-trusts.pdf

QUOTE(vanitas @ Sep 17 2019, 10:11 AM)
This is exactly my thought, it might be worth if one keep 100k inside the saving account. But I will wait till next year to find out more on unit trust (esp sales charge) offered by Standard Chartered.
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Well, if there is a signup promotion in Q4 2019, why not?
taiping...
post Sep 22 2019, 03:12 PM

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QUOTE(Ramjade @ Sep 17 2019, 07:52 AM)
You need to count how much they charging for unit trust transaction. If 5%, don't think is worth it to transfer your ASM since now ASM gives min 5% returns.
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How about using OCBC unlimited cash back 1% to pay bigpay get (RM100 cash back from OCBC)

Withdraw 9K (Rm3000 per transaction wit rm6 per transaction fee)

So Untung (rm100-18 =82)

Would like to hear your opinion...

On top of that get 4.1% OCBC


rojakwhacker
post Sep 22 2019, 05:47 PM

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QUOTE(taiping... @ Sep 22 2019, 03:12 PM)
How about using OCBC unlimited cash back 1% to pay bigpay get (RM100 cash back from OCBC)

Withdraw 9K (Rm3000 per transaction wit rm6 per transaction fee)

So Untung (rm100-18 =82)

Would like to hear your opinion...

On top of that get 4.1% OCBC
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Wouldn't Other bank's card that have more than 1% cashback better than OCBC's unlimited cash back 1%? One example: Ambank's True card 3% cashback. Other example can see Post #1 of Big pay thread.
Ramjade
post Sep 22 2019, 05:58 PM

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QUOTE(taiping... @ Sep 22 2019, 03:12 PM)
How about using OCBC unlimited cash back 1% to pay bigpay get (RM100 cash back from OCBC)

Withdraw 9K (Rm3000 per transaction wit rm6 per transaction fee)

So Untung (rm100-18 =82)

Would like to hear your opinion...

On top of that get 4.1% OCBC
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OCBC card only need RM500 to fulfilled the criteria of 1.5%. No point using their card for more than RM500 transaction. Their card benefits practically no benefits.


IzaakC
post Sep 24 2019, 10:43 PM

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I am having my ocbc 360 account under ocbc al-amin. is it possible for me to apply for ocbc credit card which linked to the spending criteria of ocbc 360?

I rmb i read somewhere ocbc 360 for ocbc al-amin cant use credit card to fulfill the criteria, only debit card..

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