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> OCBC 360 Savings Account - Up to 4.1% Interest !, Get higher interest on your savings acct

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TSronnie
post Apr 12 2016, 11:44 PM, updated 3y ago

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OCBC 360 Savings Account

OCBC came out with a pretty innovative Savings Account which lets you earn an interest rate up to 4.10% per year. That’s very high interest rate for a Savings Account, right ?

user posted image

Here’s how you can earn up to 4.10% interest

0.5% - Base Interest (based on current Board Rate for Savings)
1.20% - Deposit minimum RM500 per month
1.20% - Pay minimum 3 bills via OCBC 360 Account using OCBC Online Banking portal (includes Standing Instructions for Loan repayment and OCBC Credit Card payment)
1.20% - Spend minimum RM500 on your OCBC Credit Card

The calculation of the Interest receive is based on “Average Daily Account Balance”.
“Average Daily Account Balance” = Sum of Daily balance for the calendar month then divided by number of days in that calendar month.

The Maximum “Average Daily Account Balance” that qualify for bonus interests is RM100,000.00. Any additional balance will continue to earn the base rate.

Eg.
01 November 2015 : RM200.00 (starting balance)
10 November 2015 : RM500.00 (deposit)
30 November 2015 : RM5000.00 (deposit)

“Average Daily Account Balance” calculation = RM716.67
Formula:- [RM200 x 9 days] + [RM700 x 20 days] + [RM5700 x 1 day] divide by 30 Days in November

The Bonus interest will be calculated based on the RM716.67 amount (not RM5,700 total balance in OCBC 360 Account).

Let’s do another scenario to better understand the Bonus Interest portion.

Scenario A
01 November 2015 : RM200.00 (starting balance)
10 November 2015 : RM500.00 (deposit)
25 November 2015 : -RM500.00 (3 bill payments via OCBC 360 using OCBC Online Banking Portal)
28 November 2015 : Swipe retail purchases totaling RM1000.00 using your OCBC Credit Card
30 November 2015 : RM5000.00 (deposit)

“Average Daily Account Balance” calculation = RM610.00
Formula:- [RM200 x 9 days] + [RM700 x 15 days] + [RM200 x 5 days] + [RM5000 x 1 day] divide by 30 Days in November

Scenario B
01 November 2015 : RM200.00 (starting balance)
10 November 2015 : RM5000.00 (deposit)
25 November 2015 : -RM500.00 (3 bill payments via OCBC 360 using OCBC Online Banking Portal)
28 November 2015 : Swipe retail purchases totaling RM800.00 using your OCBC Credit Card
30 November 2015 : RM600.00 (deposit)

“Average Daily Account Balance” calculation = RM3620.00
Formula:- [RM200 x 9 days] + [RM5200 x 15 days] + [RM4700 x 5 days] + [RM5300 x 1 day] divide by 30 Days in November

For both Scenarios, in November 2015, you will be entitled to Bonus Interest of 3.60%. With a base rate of 0.5% total interest earned is 4.10%. Do note that the base rate, unlike the Bonus Interest, is calculated daily.

So learn how the system works in order to find the best way to maximise the OCBC 360 Account.

There is a OCBC 360 Interest Calculator Available at:
http://www.ocbc.com.my/personal-banking/Ac.../360/index.html

Product Disclosure sheet (.pdf) : http://www.ocbc.com.my/assets/pdf/Accounts..._ACC360_PIS.pdf

Terms And Conditions (.pdf) :
Updated as of 11 May 2017


This post has been edited by ronnie: May 23 2017, 02:41 PM
Ramjade
post Apr 13 2016, 04:12 AM

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ronnie
First, max you can get from this account is 2.9%
0.5% - Base Interest (based on current Board Rate for Savings)
1.20% - Deposit minimum RM500 per month
1.20% - Pay minimum 3 bills via OCBC 360 Account using OCBC Online Banking portal (includes Standing Instructions for Loan repayment and OCBC Credit Card payment) - I think paying RM1 for bill is also eligible -Don't pay more than RM1. Not sure if it works. Why RM1? I will get to that later
1.20% - Spend minimum RM500 on your OCBC Credit Card - NOT RECOMMENDED

So why spend RM1 on bills and not more on OCBC?
1. Paying via OCBC will not give you cashback (for those who holds CB cards)
2. By using UOB VOX (5% CB for transaction above RM50) via UOBPAYONLINE and HLB WISE (10% CB if meet the T&C) via merchants which allow paying of bills, one can easily get >1.2%. rclxm9.gif
3. RM1 is usually the min transaction a banks allow.

Why spending min RM500 on your OCBC Credit Card is NOT RECOMMENDED?
1. According to Gen-X, OCBC CC are useless. CB is pathetic.
2. Why settle for pathetic CB when other cards give min 5% CB which I am sure is more than the 1.2%p.a interest.

That sums it all up to show that to get max cashback (more money), you can only get max 2.9% from OCBC 360 SA.

This post has been edited by Ramjade: Apr 13 2016, 04:14 AM
cybpsych
post Apr 13 2016, 06:57 AM

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QUOTE(Ramjade @ Apr 13 2016, 04:12 AM)
ronnie
First, max you can get from this account is 2.9%
0.5% - Base Interest (based on current Board Rate for Savings)
1.20% - Deposit minimum RM500 per month
1.20% - Pay minimum 3 bills via OCBC 360 Account using OCBC Online Banking portal (includes Standing Instructions for Loan repayment and OCBC Credit Card payment) - I think paying RM1 for bill is also eligible -Don't pay more than RM1. Not sure if it works. Why RM1? I will get to that later
1.20% - Spend minimum RM500 on your OCBC Credit Card - NOT RECOMMENDED

So why spend RM1 on bills and not more on OCBC?
1. Paying via OCBC will not give you cashback (for those who holds CB cards)
2. By using UOB VOX (5% CB for transaction above RM50) via UOBPAYONLINE and HLB WISE (10% CB if meet the T&C) via merchants which allow paying of bills, one can easily get >1.2%. rclxm9.gif
3. RM1 is usually the min transaction a banks allow.

Why spending min RM500 on your OCBC Credit Card is NOT RECOMMENDED?
1. According to Gen-X, OCBC CC are useless. CB is pathetic.
2. Why settle for pathetic CB when other cards give min 5% CB which I am sure is more than the 1.2%p.a interest.

That sums it all up to show that to get max cashback (more money), you can only get max 2.9% from OCBC 360 SA.
*
first of all, ronnie's topic is for the product itself. it's AS ADVERTISED by OCBC.

second, you're listing out disadvantages of the product and immediately mark it as bad product.

Not everyone behaves like you. some ppl will use online banking to pay bills. some ppl will spend RM500 using OCBC CC.

you dont like this product doesnt mean others wont like it.
TSronnie
post Apr 13 2016, 07:30 AM

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This is an open forum where everyone can share their thoughts. Maybe OCBC should visit this thread and "make" OCBC360 benefits better.. All for the benefit of customers.
Ramjade
post Apr 13 2016, 07:31 AM

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QUOTE(cybpsych @ Apr 13 2016, 06:57 AM)
first of all, ronnie's topic is for the product itself. it's AS ADVERTISED by OCBC.

second, you're listing out disadvantages of the product and immediately mark it as bad product.

Not everyone behaves like you. some ppl will use online banking to pay bills. some ppl will spend RM500 using OCBC CC.

you dont like this product doesnt mean others wont like it.
*
I am just listing the disadvantage of this product. Is that wrong? Besides he put there "That’s very high interest rate for a Savings Account, right ?"

I am just correcting the statement. Is up to people whether they want to sign up for this account. People should be presented with facts before signing up and not blindly signing up.
TSronnie
post Apr 13 2016, 07:35 AM

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QUOTE(Ramjade @ Apr 13 2016, 07:31 AM)
I am just listing the disadvantage of this product. Is that wrong? Besides he put there "That’s very high interest rate for a Savings Account, right ?"

I am just correcting the statement. Is up to people whether they want to sign up for this account. People should be presented with facts before signing up and not blindly signing up.
*
The statement is correct as long as we follow the steps required by OCBC.
Your point-of-view is also correct. Thanks for the "disadvantages".

This makes readers able to "think" for themselves and make the right choices in choosing their financial products. Always read the fine lines.
adele123
post Apr 13 2016, 08:35 AM

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I tried reading the t&c. Didn't find their appendix. It doesn't seem to restrict that the 3bills paid via ocbc online banking cannot be 'shared' with the rm500 spent on the ocbc card. May not be too difficult for some.
lepakboy
post Apr 13 2016, 10:51 AM

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I have actually opened this account. Personally I use it as sort of an FD as the rates are decent and I like the ability to withdraw my money when I want to. The card spend isn't actually that bad especially if you are a Great Eastern customer. (their Great Eastern Plat Card splits your premium over 12 months)

I did compare it to Maybank's and Hong Leong's offerings but

Maybank Premier Plus - requires RM500,000 balance to earn 2%? bangwall.gif Might as well dump it all in an FD.

Hong Leong Pay & Save - Paying 15 Bills to get 1.9%? I mean how many bills do you have unless you're running a business blink.gif


Only thing I can complain about is probably the lack of ATM's. But then again, i guess it forces me to spend less and save. Which is the reason for opening the account in the first case! rclxm9.gif
Ramjade
post Apr 13 2016, 11:20 AM

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QUOTE(lepakboy @ Apr 13 2016, 10:51 AM)
I have actually opened this account. Personally I use it as sort of an FD as the rates are decent and I like the ability to withdraw my money when I want to. The card spend isn't actually that bad especially if you are a Great Eastern customer. (their Great Eastern Plat Card splits your premium over 12 months)

I did compare it to Maybank's and Hong Leong's offerings but

Maybank Premier Plus - requires RM500,000 balance to earn 2%?  bangwall.gif Might as well dump it all in an FD.

Hong Leong Pay & Save - Paying 15 Bills to get 1.9%? I mean how many bills do you have unless you're running a business  blink.gif

Only thing I can complain about is probably the lack of ATM's. But then again, i guess it forces me to spend less and save. Which is the reason for opening the account in the first case!  rclxm9.gif
*
That's their catch to make sure the general public don't get the 1.9%. But actually you can split your bill say RM200, into 10 x RM20. rclxm9.gif

M2savers give 2.25% for min Rm2k. No need any premier account.

Check out the last few pages of truesavers thread. I listed out some high interest SA. smile.gif
lepakboy
post Apr 13 2016, 01:19 PM

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QUOTE(Ramjade @ Apr 13 2016, 11:20 AM)
That's their catch to make sure the general public don't get the 1.9%. But actually you can split your bill say RM200, into 10 x RM20. rclxm9.gif

M2savers give 2.25% for min Rm2k. No need any premier account. 

Check out the last few pages of truesavers thread. I listed out some high interest SA. smile.gif
*
So Ramjade, assuming I have a credit card from each of these respective banks. Which one offers me the highest interest rate for the least amount of work?

As mentioned, I'm currently using the 360 account so this is what happens.

Salary goes into 360 - Fulfill RM500 deposit pillar 1.2%
Pay 3 Bills - TNB, Syabas, & Paying Great Eastern CC for insurance premium - another 1.2%
Spending RM500 on cc - My premiums is already 50% of this. The remaining can be done with one meal out with family (Heck even T.G.I.F can hit RM300 for a party of 6!) - Another 1.2%

Whilst some other accounts may give marginally more, will they ever be as simple as what i'm currently using?




HarpArtist
post Apr 13 2016, 01:38 PM

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i use this ac to the max possible. treat it as a 4.1% monthly credited fd that can be withdrawn with the flexi of cheques anytime (i pair it with a current ac). rm500 to ocbc CC is very good enough for misc purchases that do not earn cashback anywhere else or when other CB is maxed out as ocbc ge gets 1%, wmc gets 1.2% on anything.
HarpArtist
post Apr 13 2016, 01:40 PM

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QUOTE(adele123 @ Apr 13 2016, 08:35 AM)
I tried reading the t&c. Didn't find their appendix. It doesn't seem to restrict that the 3bills paid via ocbc online banking cannot be 'shared' with the rm500 spent on the ocbc card. May not be too difficult for some.
*
yes i split my cc payment into 3 and it works.

Ramjade
post Apr 13 2016, 03:09 PM

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QUOTE(lepakboy @ Apr 13 2016, 01:19 PM)
So Ramjade, assuming I have a credit card from each of these respective banks. Which one offers me the highest interest rate for the least amount of work?

As mentioned, I'm currently using the 360 account so this is what happens.

Salary goes into 360 - Fulfill RM500 deposit pillar 1.2%
Pay 3 Bills - TNB, Syabas, & Paying Great Eastern CC for insurance premium - another 1.2%
Spending RM500 on cc - My premiums is already 50% of this. The remaining can be done with one meal out with family (Heck even T.G.I.F can hit RM300 for a party of 6!) - Another 1.2%

Whilst some other accounts may give marginally more, will they ever be as simple as what i'm currently using?
*
My answer would be 3.
(1) ocbc SmartSavers (dump rm1k /month into it with NO WITHDRAWAL - defeat the purpose of a SA)
(2) ocbc 360 (for me the max I can get is 2.9% will explain)
(3) RHB bonus savers (dump rm500/month). End of 1 year, you get effective rates of 2.65% (if you do not withdraw the rm500). However next year, you will get 2.65% regardless of amount. The rm6k can be removed on the 13th month.

You can get 5% CB from UOB VOX if you pay your bills online. Must use certain sites. That's better than 1.2%.

For dining use the m2cards to get 5% CB. Again better than 1.2%.

Well is up to you. If you want to maximise the amount of money you will get, you will stop at 2.9% and use those cards.

For me, I will personally choose RHB bonus savers as my future SA. Less hassle the following year. Any amount, no limit on withdrawal with rates of 2.65%

aromachong
post Apr 13 2016, 05:54 PM

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This post has been edited by aromachong: Nov 3 2016, 04:13 PM
Ramjade
post Apr 13 2016, 05:56 PM

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QUOTE(aromachong @ Apr 13 2016, 05:54 PM)
i have many savings account here

so (1) serve me the purpose and i like my smart savers very much.. no need headache.. just dump 1 k every month for extra money.
*
Fot the same function (cannot withdraw the money) you should look into Ambank Islamic efd. 3.15%p.a min rm1k for 1 month. smile.gif
aromachong
post Apr 13 2016, 05:59 PM

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This post has been edited by aromachong: Nov 3 2016, 04:13 PM
Ramjade
post Apr 13 2016, 06:03 PM

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QUOTE(aromachong @ Apr 13 2016, 05:59 PM)
yeah, i did not withdrawal it.. thats is why the savings acc is name after "ocbc smart savers"

may i ask for the link for ambank islamic efd 3.15? quite interested .. but im afraid of online placing for FD as there are forumers stating that there is no record to be found as system sometime can go crazy u know.. i forgot where the link is..
*
Been placing for 4 months+ (uplift and place new FD every month). Got record. They even ask you to print xxx page for reference (but I didn't) Upon placement.

Ambank eTerm-Deposit-i
aromachong
post Apr 13 2016, 06:06 PM

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QUOTE(Ramjade @ Apr 13 2016, 06:03 PM)
Been placing for 4 months+ (uplift and place new FD every month). Got record. They even ask you to print xxx page for reference (but I didn't) Upon placement.

Ambank eTerm-Deposit-i
*
thanks for that, will check it out nod.gif
taitianhin
post Apr 13 2016, 06:09 PM

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Understand the total rebate of 4.10% on the saving...
However,
-I dont get my 6% rebate when spending on CC payment
-I have few 5K FD which somewhere at 4% already, I am not going to withdraw it just to get that 4.1% which dont benefit my CC rebate ...
-Counter the down side of no rebate on online payment via Saving, you may pay Low amount on any bill (Lets say pay a RM10-20) just to enjoy the 3 bill payment
-However, it is still not able to satisfy the RM500 Spending on OCBC CC...

Mix feeling on this package, it is good if user is using OCBC as Main Account to manage own $$$. This package will consider as extra bonus to them

This post has been edited by taitianhin: Apr 13 2016, 06:19 PM
HarpArtist
post Apr 13 2016, 06:19 PM

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QUOTE(Ramjade @ Apr 13 2016, 03:09 PM)
My answer would be 3.
(1) ocbc SmartSavers (dump rm1k /month into it with NO WITHDRAWAL -  defeat the purpose of a SA)
(2) ocbc 360 (for me the max I can get is 2.9% will explain)
(3) RHB bonus savers (dump rm500/month). End of 1 year, you get effective rates of 2.65% (if you do not withdraw the rm500). However next year, you will get 2.65% regardless of amount. The rm6k can be removed on the 13th month.

You can get 5% CB from UOB VOX if you pay your bills online. Must use certain sites. That's better than 1.2%.

For dining use the m2cards to get 5% CB. Again better than 1.2%.

Well is up to you. If you want to maximise the amount of money you will get, you will stop at 2.9% and use those cards.

For me, I will personally choose RHB bonus savers as my future SA. Less hassle the following year. Any amount, no limit on withdrawal with rates of 2.65%
*
bro u do not understand that some of us spend alot and already max out other cards? we have expenses that dont fit into vox or pb vs or wise card spend patterns? one person alone in my family ..the insurance premium with GE easily hit the requirement for example. the ocbc 1.2% is a great backup card and many people easily go 5k not to say rm500 with it laugh.gif so for us its not even a chore to hit 4.1% which beats 3.15 efd hands down.

This post has been edited by HarpArtist: Apr 13 2016, 06:20 PM
aromachong
post Apr 13 2016, 06:25 PM

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QUOTE(Ramjade @ Apr 13 2016, 06:03 PM)
Been placing for 4 months+ (uplift and place new FD every month). Got record. They even ask you to print xxx page for reference (but I didn't) Upon placement.

Ambank eTerm-Deposit-i
*
not bad , i'd say

however i have ambank savings acc already

just deposit all money and click for online fd placement , right?

would like to transfer portion from smart savers for 6 months
Ramjade
post Apr 13 2016, 06:34 PM

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QUOTE(aromachong @ Apr 13 2016, 06:25 PM)
not bad , i'd say

however i have ambank savings acc already

just deposit all money and click for online fd placement , right?

would like to transfer portion from smart savers for 6 months
*
Yup. But Ambank Islamic efd not interesting compare to Maybank eGIA-i. Interest and capital not guaranteed but people in FD forum have been getting 4% returns every month for 3 months already
aromachong
post Apr 13 2016, 06:35 PM

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QUOTE(Ramjade @ Apr 13 2016, 06:34 PM)
Yup. But Ambank Islamic efd not interesting compare to Maybank eGIA-i. Interest and capital not guaranteed but people in FD forum have been getting 4% returns every month for 3 months already
*
guess i will stick with amislamic efd thanks for the tips off !
lil_flank
post Apr 13 2016, 07:16 PM

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Just open it today. The OCBC 360 in Malaysia is abit different compared to Singapore. Credit card payment of other banks is not eligible for 3 bills criteria, dmn..
Like some members in this forum has mentioned, the OCBC credit card is really one of the worst cashback credit card. But i still apply due to the 1.2% interest and i have Great Eastern insurance. I already have a HL Wise card which i always get max cash rebate. So this OCBC card will be my 2nd backup card.
yahiko
post Apr 13 2016, 07:17 PM

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I Put 500 in early month n take out again end month. Still entitle for the 1 .2%?

This post has been edited by yahiko: Apr 13 2016, 07:23 PM
JCogent
post Apr 13 2016, 10:54 PM

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QUOTE(yahiko @ Apr 13 2016, 07:17 PM)
I Put 500 in early month n take out again end month. Still entitle for the 1 .2%?
*
Yes, as long as there's rm500 deposited, you don't even need to wait till month end to withdraw.
lepakboy
post Apr 14 2016, 09:23 AM

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Just my opinion. Some people really like the OCBC Platinum Mastercard, my wife included biggrin.gif .

Whilst the 0.5% rebate isn't the most fantastic, the Auto IPP 0% interest split is super helpful with big purchases.

e.g.
Car suspension damaged by Pot Holes mad.gif + Worn Tyre RM 1,850. Paid with Plat Card and we only paid RM308.33 for 6 month

It also helped pay for my Wedding Dinner rclxm9.gif as I split the total RM30,000 over 1 year! Essentially it costed me RM2,500 over 12 months (because of 50% deposit). In terms of helping cash-flow, i don't think there is any other card that can do the same.

Having said that, you have to be very careful with a card like this because if you're the kind that only looks at minimum repayment ........ sweat.gif
yahiko
post Apr 14 2016, 11:56 AM

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QUOTE(Ramjade @ Apr 13 2016, 03:09 PM)
My answer would be 3.
(1) ocbc SmartSavers (dump rm1k /month into it with NO WITHDRAWAL -  defeat the purpose of a SA)
For me, I will personally choose RHB bonus savers as my future SA. Less hassle the following year. Any amount, no limit on withdrawal with rates of 2.65%
*
RHB bonus saver got any term and co? like normal saving just need to bank inRM500 month right?
Ramjade
post Apr 14 2016, 11:58 AM

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QUOTE(yahiko @ Apr 14 2016, 11:56 AM)
RHB bonus saver got any term and co? like normal saving just need to bank inRM500 month right?
*
Bank in. Cannot withdraw. Can only withdraw all on 13th month. From my understanding.

This post has been edited by Ramjade: Apr 14 2016, 12:00 PM
yahiko
post Apr 14 2016, 12:00 PM

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QUOTE(Ramjade @ Apr 14 2016, 11:58 AM)
Bank in. Cannot withdraw. Can only withdraw all on 13th month.
*
which means after 1 year only can access the money to get the 2.65%? after 13 month.. we can continue to serve as SA ( normal bank in RM500 but can withdraw any time) or same pattern again?
Ramjade
post Apr 14 2016, 12:05 PM

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QUOTE(yahiko @ Apr 14 2016, 12:00 PM)
which means after 1 year only can access the money to get the 2.65%? after 13 month.. we can continue to serve as SA ( normal bank in RM500 but can withdraw any time) or same pattern again?
*
After the 13th month, RHB bonus saver will become like any other SA. The difference is you will 2.65%p.a interest without needing the need to bank in RM500/month. Simply leaving any amount inside also will get you 2.65%. biggrin.gif there's no limit or penalty for withdrawal (after 13th month)

This post has been edited by Ramjade: Apr 14 2016, 12:08 PM
yahiko
post Apr 14 2016, 12:08 PM

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QUOTE(Ramjade @ Apr 14 2016, 12:05 PM)
After the 13th month, RHB bonus saver will become like any other SA. The difference is you will 2.65%p.a interest without needing the need to bank in RM500/month. Simply leaving any amount inside also will get you 2.65%. biggrin.gif
*
great thankss... rclxms.gif
Nom-el
post Apr 15 2016, 07:04 PM

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QUOTE(lepakboy @ Apr 13 2016, 10:51 AM)
I have actually opened this account. Personally I use it as sort of an FD as the rates are decent and I like the ability to withdraw my money when I want to. The card spend isn't actually that bad especially if you are a Great Eastern customer. (their Great Eastern Plat Card splits your premium over 12 months)

I did compare it to Maybank's and Hong Leong's offerings but

Maybank Premier Plus - requires RM500,000 balance to earn 2%?  bangwall.gif Might as well dump it all in an FD.

Hong Leong Pay & Save - Paying 15 Bills to get 1.9%? I mean how many bills do you have unless you're running a business  blink.gif
Only thing I can complain about is probably the lack of ATM's. But then again, i guess it forces me to spend less and save. Which is the reason for opening the account in the first case!  rclxm9.gif
*
For the Great Eastern auto-IPP, does the installment amount still count towards the RM500 spend on credit card part? Or only those insurance premium that is not converted to installment counts?

For Pay & Save account, online IBG is also counted as an online transaction. You can even use it to pay your other banks' credit card for e.g.


QUOTE(HarpArtist @ Apr 13 2016, 01:40 PM)
yes i split my cc payment into 3 and it works.
*
thumbsup.gif


QUOTE(aromachong @ Apr 13 2016, 05:54 PM)
i have many savings account here

so (1) serve me the purpose and i like my smart savers very much.. no need headache.. just dump 1 k every month for extra money.

unlike ocbc 360, it has limit for the savings to earn u interest

smartsavers u can put 1 mil 2 mil as u like as there is no limit restrict by bank
*
If really want high intrerest for big amounts, can consider OCBC Premier Save account,
200K and above - 3.33% (4.00% promo rate)
less than 200K - 1.00%

lepakboy
post Apr 20 2016, 10:28 AM

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QUOTE(Nom-el @ Apr 15 2016, 07:04 PM)
For the Great Eastern auto-IPP, does the installment amount still count towards the RM500 spend on credit card part? Or only those insurance premium that is not converted to installment counts?
Well so far I've been spending a little bit over (Avg 600-800) on top of my IPP installment. But I'll check at the end of this month as spending is lower. (Saving for new family member biggrin.gif )
middle_one23
post Apr 24 2016, 02:32 PM

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QUOTE(Nom-el @ Apr 15 2016, 07:04 PM)
For the Great Eastern auto-IPP, does the installment amount still count towards the RM500 spend on credit card part? Or only those insurance premium that is not converted to installment counts?
*
Auto IPP will NOT be count as RM500 credit card spending, stated somewhere in their T&C (I might search for the link if you need..)
For those insurance premium that u didn't convert to installment, YES, it counts.
ywk9630
post Apr 25 2016, 11:32 AM

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QUOTE(lepakboy @ Apr 14 2016, 09:23 AM)
Just my opinion. Some people really like the OCBC Platinum Mastercard, my wife included  biggrin.gif .

Whilst the 0.5% rebate isn't the most fantastic, the Auto IPP 0% interest split is super helpful with big purchases.

e.g.
Car suspension damaged by Pot Holes  mad.gif + Worn Tyre RM 1,850. Paid with Plat Card and we only paid RM308.33 for 6 month

It also helped pay for my Wedding Dinner  rclxm9.gif  as I split the total RM30,000 over 1 year! Essentially it costed me RM2,500 over 12 months (because of 50% deposit).  In terms of helping cash-flow, i don't think there is any other card that can do the same.

Having said that, you have to be very careful with a card like this because if you're the kind that only looks at minimum repayment ........  sweat.gif
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The annual fee can waive? what is the TNC to waive?
deity01
post Jun 26 2016, 06:09 PM

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OCBC 360 do not have instant fund transfer option?

This post has been edited by deity01: Jun 26 2016, 07:18 PM
MilesAndMore
post Jun 30 2016, 09:53 PM

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QUOTE(deity01 @ Jun 26 2016, 06:09 PM)
OCBC 360 do not have instant fund transfer option?
*
Got. I just opened this account yesterday and used the fee-free MEPS Instant Transfer to transfer some money out right after through their mobile banking app. The fee-free MEPS Instant Transfer feature on their mobile banking app is the main reason I opened this account biggrin.gif

Do however note that this fee-free MEPS Instant Transfer is just a limited time promotion (fee waived until end of this year). Being a FLIB with such a limited ATM, hopefully they will make the MEPS Instant Transfer free permanently someday.

This post has been edited by MilesAndMore: Jun 30 2016, 10:01 PM
deity01
post Jul 1 2016, 10:58 AM

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QUOTE(MilesAndMore @ Jun 30 2016, 09:53 PM)
Got. I just opened this account yesterday and used the fee-free MEPS Instant Transfer to transfer some money out right after through their mobile banking app. The fee-free MEPS Instant Transfer feature on their mobile banking app is the main reason I opened this account   biggrin.gif

Do however note that this fee-free MEPS Instant Transfer is just a limited time promotion (fee waived until end of this year). Being a FLIB with such a limited ATM, hopefully they will make the MEPS Instant Transfer free permanently someday.
*
only Mobile banking app hv? I cant find it in the OCBC Internet Banking


--- found

This post has been edited by deity01: Jul 27 2016, 03:58 PM
deity01
post Jul 27 2016, 04:00 PM

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if I create saving goal, the money in the saving goal sub account will still hv the same interest as the primary account izzit?
AIYH
post Sep 20 2016, 07:42 AM

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Hi,

I plan to open an ocbc 360 account.

Is there any annual fee for this account?

Understand from the product sheet that it has an card issuance fee of RM8. This is a one time upfront charges?

Is there any other charges I should watch out?

And for this account, I only need to open it with rm200 and can withdraw the remaining and keep rm20 for the minimum balance?
Ramjade
post Sep 20 2016, 05:25 PM

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QUOTE(AIYH @ Sep 20 2016, 07:42 AM)
Hi,

I plan to open an ocbc 360 account.

Is there any annual fee for this account?

Understand from the product sheet that it has an card issuance fee of RM8. This is a one time upfront charges?

Is there any other charges I should watch out?

And for this account, I only need to open it with rm200 and can withdraw the remaining and keep rm20 for the minimum balance?
*
No way is one time. Usually is annually. That one I don't know about min amount.

QUOTE(elchico @ Sep 20 2016, 05:15 PM)
Sorry, what do u mean "going for CB"? cashback? wink.gif

normally, ppl maintain a few Credit Cards... So what is switching 1 of your credit cards from other banks to OCBC....
Also, even if you don't achieve this criteria, you just lose out on 1.2%... so still get 2.9% for normal savings account...

the calculation is 0.5% for normal savings + 1.2% for each SAVE, PAY, SPEND criteria...

Cheers!
*
CB = cash back. Spending rm500 on a CC without any CB benefits is wasting money.

Besides, who needs 2.9% when maybank eGIA-i is giving 3.60%? whistling.gif
deity01
post Sep 20 2016, 05:48 PM

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QUOTE(AIYH @ Sep 20 2016, 07:42 AM)
Hi,

I plan to open an ocbc 360 account.

Is there any annual fee for this account?

Understand from the product sheet that it has an card issuance fee of RM8. This is a one time upfront charges?

Is there any other charges I should watch out?

And for this account, I only need to open it with rm200 and can withdraw the remaining and keep rm20 for the minimum balance?
*
is NOT annual fee, just ONE TIME CHARGE when card issuance


no other charges..just need to fulfil the conditions to get 4.1% on ur saving average balance

This post has been edited by deity01: Sep 20 2016, 05:53 PM
whatsayyou
post Sep 21 2016, 04:20 PM

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Is there a minimum bill payment amount?
Will a RM1 or RM5 bill payment suffice?

For OCBC SG, S$1 bill payment is valid to fulfil the 3 bill payment criteria.
deity01
post Sep 22 2016, 10:43 AM

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QUOTE(whatsayyou @ Sep 21 2016, 04:20 PM)
Is there a minimum bill payment amount?
Will a RM1 or RM5 bill payment suffice?

For OCBC SG, S$1 bill payment is valid to fulfil the 3 bill payment criteria.
*
can
i tried paying my housing loan acc with RM1 and it counts fulfilling the payment criteria
drbone
post Sep 22 2016, 12:15 PM

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QUOTE(Ramjade @ Sep 20 2016, 05:25 PM)
No way is one time. Usually is annually. That one I don't know about min amount.
CB = cash back. Spending rm500 on a CC without any CB benefits is wasting money.

Besides, who needs 2.9% when maybank eGIA-i is giving 3.60%? whistling.gif
*
Which card would you say is the best in terms of cashback? I am using Maybank2cards and my main expenditures are petrol and utility bills, dining not that much. I always wait till the weekend to use the AMEX card because of the X5 treatspoints. Any card better than this?
Ramjade
post Sep 22 2016, 12:39 PM

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QUOTE(drbone @ Sep 22 2016, 11:28 AM)
Thanks a lot! Just put into GIA, now just gotta wait for the returns. But based on our discussions, looks like OCBC 360 savings account is a better choice?
*
Nope. Cause you need to spend RM500 on OCBC card which particularly give 0% CB. SO if you don't spend RM500, you only have 2.9%p.a only. Tell me eGIA-i at 3.60%p.a vs OCBC 360 at 2.9% p.a. Which one is better? biggrin.gif

QUOTE(drbone @ Sep 22 2016, 12:15 PM)
Which card would you say is the best in terms of cashback? I am using Maybank2cards and my main expenditures are petrol and utility bills, dining not that much. I always wait till the weekend to use the AMEX card because of the X5 treatspoints. Any card better than this?
*
Of course. Maybank 2 cards is just crap since it only earn you max 1.25% nett cash back.
Maybank ikhwan for groceries + petrol
Any aeon card + CIMB CB Gold/platinum for utility which can be paid via Posonline to earn close to 3% CB. (2.xx%)
Public Bank Visa Signature if you are eligible 6% off utility payment if I am not mistaken.

Now tell me, worth or not to open OCBC 360? rclxms.gif
deity01
post Sep 22 2016, 06:47 PM

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QUOTE(Ramjade @ Sep 22 2016, 12:39 PM)
Nope. Cause you need to spend RM500 on OCBC card which particularly give 0% CB. SO if you don't spend RM500, you only have 2.9%p.a only. Tell me eGIA-i at 3.60%p.a vs OCBC 360 at 2.9% p.a. Which one is better?  biggrin.gif 
Of course. Maybank 2 cards is just crap since it only earn you max 1.25% nett cash back.
Maybank ikhwan for groceries + petrol
Any aeon card + CIMB CB Gold/platinum for utility which can be paid via Posonline to earn close to 3% CB. (2.xx%)
Public Bank Visa Signature if you are eligible 6% off utility payment if I am not mistaken.

Now tell me, worth or not to open OCBC 360?  rclxms.gif
*
if for sure you surely spend rm500 on CC which all the card that you have do not hv better benifits, then OCBC 360 4.1% better

dont just talk about 3% CB or 2% CB or 5% CB or etc, do remember, your cashback got CAP, usually CAP RM50, unless those 1% unlimited CB

if you hv RM1000 in your saving account, then of cos you better use those credit card with 5% CB to maximize your benifits, but if you have RM20k in saving account constantly then of cos OCBC 360 4.1% better

so it is actually up to the to determine which 1 is better for him/her
Ramjade
post Sep 22 2016, 07:19 PM

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QUOTE(deity01 @ Sep 22 2016, 06:47 PM)
if for sure you surely spend rm500 on CC which all the card that you have do not hv better benifits, then OCBC 360 4.1% better

dont just talk about 3% CB or 2% CB or 5% CB or etc, do remember, your cashback got CAP, usually CAP RM50, unless those 1% unlimited CB

if you hv RM1000 in your saving account, then of cos you better use those credit card with 5% CB to maximize your benifits, but if you have RM20k in saving account constantly then of cos OCBC 360 4.1% better

so it is actually up to the to determine which 1 is better for him/her
*
Who keeps rm20k/account? Most people keep rm5-10k. Besides how often do you see an ocbc atm machine?
If a person spends like rm2k-rm3k/ month still better to go for other eGIA-i than ocbc 360.
Why? Maybank ikhwan, public bank visa signature, maybank visa signature,

Sorry la. I am anti-ocbc as I feel that they are not genuine. A genuine bank will give you clear cut way.

Let's ask cklimm for hia opinion. Is ocbc 360 worth it for some guy with rm20k in his account?
deity01
post Sep 23 2016, 12:31 AM

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QUOTE(Ramjade @ Sep 22 2016, 07:19 PM)
Who keeps rm20k/account? Most people keep rm5-10k. Besides how often do you see an ocbc atm machine?
If a person spends like rm2k-rm3k/ month still better to go for other eGIA-i than ocbc 360.
Why? Maybank ikhwan, public bank visa signature, maybank visa signature,

Sorry la. I am anti-ocbc as I feel that they are not genuine. A genuine bank will give you clear cut way.

Let's ask cklimm for hia opinion. Is ocbc 360 worth it for some guy with rm20k in his account?
*
who keep 20k in an account? haha..u never know... whistling.gif



Why? Maybank ikhwan, public bank visa signature, maybank visa signature,
seems like you assume everyone can simply get all together these cards, even one person with all these cards can hit maximum cashback always in their respective category..and ppl can easily hit the maybank vs annual fee waiver requirement..


who cares it is genuine or not genuine, as long as you can achieve the requirements...
y need to think it is genuine or not? just treat it as a game...u achieve u get reward/level up/special weapon/ability...or like a sales person, or your iko, u hit target u get bonus, or ppl doing franchise business, u do good you get contract renewal, or simply parent trying to encourage child to study well, u get 80 points and above, you get to buy a lego set.. thumbup.gif

This post has been edited by deity01: Sep 23 2016, 12:47 AM
Ramjade
post Sep 23 2016, 01:08 AM

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QUOTE(deity01 @ Sep 23 2016, 12:31 AM)
who keep 20k in an account? haha..u never know... whistling.gif
Why? Maybank ikhwan, public bank visa signature, maybank visa signature,
seems like you assume everyone can simply get all together these cards, even one person with all these cards can hit maximum cashback always in their respective category..and ppl can easily hit the maybank vs annual fee waiver requirement..
who cares it is genuine or not genuine, as long as you can achieve the requirements...
y need to think it is genuine or not? just treat it as a game...u achieve u get reward/level up/special weapon/ability...or like a sales person, or your iko, u hit target u get bonus, or ppl doing franchise business, u do good you get contract renewal, or simply parent trying to encourage child to study well, u get 80 points and above, you get to buy a lego set.. thumbup.gif
*
When banks come up with complicated t&c, and stright put 4.1%, you better do your calculations. And what do you know? whistling.gif whistling.gif

Yes OCBC wins Maybank eGIA-i with 4.1% compounded every month. But it didn't win when you factor in CB. I set both spend a separate Rm1k/month one using maybank ikhwan card and one using OCBC CC as we know from Gen-X's post OCBC doesn't give any good CB. rclxm9.gif rclxms.gif
user posted image

This post has been edited by Ramjade: Sep 23 2016, 01:50 AM
deity01
post Sep 23 2016, 10:32 AM

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QUOTE(Ramjade @ Sep 23 2016, 01:08 AM)
When banks come up with complicated t&c, and stright put 4.1%, you better do your calculations. And what do you know?  whistling.gif  whistling.gif

Yes OCBC  wins Maybank eGIA-i with 4.1% compounded every month. But it didn't win when you factor in CB. I set both spend a  separate Rm1k/month one using maybank ikhwan card and one using OCBC CC as we know from Gen-X's post OCBC doesn't give any good CB.  rclxm9.gif  rclxms.gif
user posted image
*
I think it does not work this way, if you want to calculate, u need a bit complex calculation like CB earn + 4.1% interest earned..then which threshold of saving maximise or start gv better result to users..

I know u are against the OCBC 360 4.1% with so much several conditions to fulfil..all ur post shows your bias..

if this is not the right account for the person, the person can consider other options..these are just options/tools...this account maybe suitable for others person in the same time...

anyway..no any tools is suitable for everyone/every situation, ppl just need to know and choose wisely

This post has been edited by deity01: Sep 23 2016, 10:39 AM
Ramjade
post Sep 23 2016, 11:27 AM

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QUOTE(deity01 @ Sep 23 2016, 10:32 AM)
I think it does not work this way, if you want to calculate, u need a bit complex calculation like CB earn + 4.1% interest earned..then which threshold of saving maximise or start gv better result to users..

I know u are against the OCBC 360 4.1% with so much several conditions to fulfil..all ur post shows your bias..

if this is not the right account for the person, the person can consider other options..these are just options/tools...this account maybe suitable for others person in the same time...

anyway..no any tools is suitable for everyone/every situation, ppl just need to know and choose wisely
*
I know you will say that. biggrin.gif rclxms.gif So I included in a one where a OCBC person uses Maybank Ikhwan and get 5% cashback too. Both spending RM1k/month to be fair fight. Both cashback is not calculated into the equation.
user posted image

Alright since you requested for complex calculation. Let's include in CB earned + 4.1%. I included in my formula too so you cannot say I cheat.
user posted image

Hey, how about if someone keeps RM20k in his account? No problem. whistling.gif whistling.gif
user posted image

Let's try with RM20k + CB + interest and see (the complex calculation and see)
user posted image
Even with RM20k also, still short by RM200+ woh. How? confused.gif biggrin.gif

I am not bias. Maths don't lie my friend. If OCBC can come out with a sweeter deal than Maybank, I will be their customer. rclxms.gif laugh.gif

The thing I am trying to emphasize is lots of people see 4.1% straight open account without first seeing which one gives better returns. And OCBC doesn't have a good CC to counter the RM500 usage. Even their titanium gives only 0.1% on all type of spending which is totally negligible.
https://ringgitplus.com/en/credit-card/OCBC...MasterCard.html

so drbone and heavensea, you got your answers already. tongue.gif Is OCBC 360 good? No!!!

This post has been edited by Ramjade: Sep 23 2016, 11:31 AM
AIYH
post Sep 23 2016, 11:44 AM

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1) The OCBC 360 account is worth it provided you max out all the available cash back credit card that suits your spending habit and have RM500 extra expense to spend on OCBC card to maximize the interest available.

2) Otherwise, OCBC 360 account does not worth for those who are unable to maximize other available cash back credit card.

3) However, I understand that the extra interest for each criteria fulfilled will only credit to us on 14th business day of the next month.

@Ramjade will you try to do another calculation to accommodate the paragraph 3 criteria based on paragraph 1 user, that is to assume both customers had maximize the cash back credit card available in the market for their expense. Also assume the first customer put the principal amount X in Maybank eGia-i and do nothing else, the second customer put the same principal amount X in OCBC 360 account with monthly extra rm500 on ocbc CC spending and rm3 on bills payment and CB earned into it. biggrin.gif

We try to compare them fairly with the full disclosure condition above to see by technically and ideally how much does OCBC 360 maximum interest really have advantage over eGIA-i. smile.gif

Also note that OCBC 360 extra interest only applies to the first 50k/100k amount (forgot which one) tongue.gif
Ramjade
post Sep 23 2016, 11:53 AM

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QUOTE(AIYH @ Sep 23 2016, 11:44 AM)
1) The OCBC 360 account is worth it provided you max out all the available cash back credit card that suits your spending habit and have RM500 extra expense to spend on OCBC card to maximize the interest available.

2) Otherwise, OCBC 360 account does not worth for those who are unable to maximize other available cash back credit card.

3) However, I understand that the extra interest for each criteria fulfilled will only credit to us on 14th business day of the next month.

@Ramjade will you try to do another calculation to accommodate the paragraph 3 criteria based on paragraph 1 user, that is to assume both customers had maximize the cash back credit card available in the market for their expense. Also assume the first customer put the principal amount X in Maybank eGia-i and do nothing else, the second customer put the same principal amount X in OCBC 360 account with monthly extra rm500 on ocbc CC spending and rm3 on bills payment and CB earned into it.  biggrin.gif

We try to compare them fairly with the full disclosure condition above to see by technically and ideally how much does OCBC 360 maximum interest really have advantage over eGIA-i.  smile.gif

Also note that OCBC 360 extra interest only applies to the first 50k/100k amount (forgot which one)  tongue.gif
*
1) & 2) I agree. Only useful for those HNWI notworthy.gif notworthy.gif
3) I am sorry. I have not been keeping track of all CC. I am just looking at the best CC that I can afford. I am not sifu Gen-X. sad.gif
AIYH
post Sep 23 2016, 12:01 PM

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QUOTE(Ramjade @ Sep 23 2016, 11:53 AM)
1) & 2) I agree. Only useful for those HNWI notworthy.gif  notworthy.gif
3) I am sorry. I have not been keeping track of all CC. I am just looking at the best CC that I can afford. I am not sifu Gen-X.  sad.gif
*
No need to know all CC, just assume both customers in the scenario are smart and able to maximize all available cash back credit card that suits their spending. biggrin.gif

We compare eGIA-i and OCBC 360 on equal ground to compare them fairly and all the criteria needed to see which one has better interest rate and by how much tongue.gif
deity01
post Sep 23 2016, 01:26 PM

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QUOTE(Ramjade @ Sep 23 2016, 11:27 AM)
I know you will say that.  biggrin.gif  rclxms.gif So I included in a one where a OCBC person uses Maybank Ikhwan and get 5% cashback too. Both spending RM1k/month to be fair fight. Both cashback is not calculated into the equation.
user posted image

Alright since you requested for complex calculation. Let's include in CB earned + 4.1%. I included in my formula too so you cannot say I cheat.
user posted image

Hey, how about if someone keeps RM20k in his account? No problem.  whistling.gif  whistling.gif
user posted image

Let's try with RM20k + CB + interest and see (the complex calculation and see)
user posted image
Even with RM20k also, still short by RM200+ woh. How?  confused.gif   biggrin.gif

I am not bias. Maths don't lie my friend. If OCBC can come out with a sweeter deal than Maybank, I will be their customer. 

The thing I am trying to emphasize is lots of people see 4.1% straight open account without first seeing which one gives better returns. And OCBC doesn't have a good CC to counter the RM500 usage. Even their titanium gives only 0.1% on all type of spending which is totally negligible.
https://ringgitplus.com/en/credit-card/OCBC...MasterCard.html

so drbone and heavensea, you got your answers already.  tongue.gif Is OCBC 360 good? No!!!
*
yup...those are ideal cases..everyone hv 5% cashback card? everyone can maximise their cashback? everyone spend that much? your calculation is for the ideal world only..math is just math..real world dont use math to calculate...

I do hv ikhwan 5%, ocbc titanium, OCBC 360, placed eGIA b4..like me..i spend on gov related transactions on ocbc ti which earn me nothing from ikhwan..but still earn the miserable 0.1%CB..like I said earlier...these are just tools, you are the one who determine how to use those tools...

hv everything and use everything when it is necessary/appropriate...u so like to calculate, y dont u go calculate if ppl use the ikhwan 5% + OCBC 4.1% + OCBC ti CB will gain how much instead of keep promoting OCBC 360 is no good..this will benefits everyone the most..
shakehead.gif doh.gif

you are talking like: ppl, please stay away from OCBC 4.1%, always say NO to OCBC360..still not bias?
I will tell everyone...please try to hv everything and use them wisely..

This post has been edited by deity01: Sep 23 2016, 01:34 PM
Ramjade
post Sep 23 2016, 03:18 PM

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QUOTE(deity01 @ Sep 23 2016, 01:26 PM)
yup...those are ideal cases..everyone hv 5% cashback card? everyone can maximise their cashback? everyone spend that much? your calculation is for the ideal world only..math is just math..real world dont use math to calculate...

I do hv ikhwan 5%, ocbc titanium, OCBC 360, placed eGIA b4..like me..i spend on gov related transactions on ocbc ti which earn me nothing from ikhwan..but still earn the miserable 0.1%CB..like I said earlier...these are just tools, you are the one who determine how to use those tools...

hv everything and use everything when it is necessary/appropriate...u so like to calculate, y dont u go calculate if ppl use the ikhwan 5% + OCBC 4.1% + OCBC ti CB will gain how much instead of keep promoting OCBC 360 is no good..this will benefits everyone the most..
shakehead.gif  doh.gif

you are talking like: ppl, please stay away from OCBC 4.1%, always say NO to OCBC360..still not bias?
I will tell everyone...please try to hv everything and use them wisely..
*
Alright, since you tak puas hati, I give you another photo. An eg where the person don't maximise their cashback.
user posted image

Note:
1. Maybank Ikhwan usage for both comparison did not hit the maximum cashback of RM50 (as requested by deity01)
2. Spending of both is at RM1k
3. Inclusion of both OCBC Ti & CIMB CB to demonstrate stuff not covered by Maybank Ikhwan (bills/insurance/others) which also did not hit the max cash back of CIMB CB.
4. Since one need to spend min RM500 with a OCBC CC to be eliglible for the 4.1%, there's no other way to decrease the amount to lesser than RM500.
5. I did not include in the high level Maybank Visa Signature and Public Bank Visa Siganture as how many can afford to apply for them? The ones I include are Maybank Ikhwan, Cimb CB, OCBC Ti which needs only need about RM30k/year of salary.

I think with so many proof, the result is crystal clear. thumbup.gif thumbup.gif

I rest my case. biggrin.gif biggrin.gif

OCBC 360 IS GOOD IF you compare against a normal account paying like 0.1%/1%/2.x%. But what I am saying is there are better alternatives available IF one wants to get maximum returns.

This post has been edited by Ramjade: Sep 23 2016, 03:29 PM
deity01
post Sep 23 2016, 03:53 PM

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QUOTE(Ramjade @ Sep 23 2016, 03:18 PM)
Alright, since you tak puas hati, I give you another photo. An eg where the person don't maximise their cashback.
user posted image

Note:
1. Maybank Ikhwan usage for both comparison did not hit the maximum cashback of RM50 (as requested by deity01)
2. Spending of both is at RM1k
3. Inclusion of both OCBC Ti & CIMB CB to demonstrate stuff not covered by Maybank Ikhwan (bills/insurance/others) which also did not hit the max cash back of CIMB CB.
4. Since one need to spend min RM500 with a OCBC CC to be eliglible for the 4.1%, there's no other way to decrease the amount to lesser than RM500.
5. I did not include in the high level Maybank Visa Signature and Public Bank Visa Siganture as how many can afford to apply for them? The ones I include are Maybank Ikhwan, Cimb CB, OCBC Ti which needs only need about RM30k/year of salary. 

I think with so many proof, the result is crystal clear.  thumbup.gif  thumbup.gif

I rest my case.  biggrin.gif  biggrin.gif

OCBC 360 IS GOOD IF you compare against a normal account paying like 0.1%/1%/2.x%. But what I am saying is there are better alternatives available IF one wants to get maximum returns.
*
u are very funny, y keep on want to argue? add cimb CB pula..later u tak puas hati u can add WISE arr..M2C amex aa..CITI CB aa or watever u want..

y cannot just urge ppl to get and use whatever then hv wisely?

still Mr.Calculator, your math is just assuming ppl will get that amount of CB, hv all the card that you hv mentioned, can always spends on the categories that entitle CB..can always spend minimum 1k...ppl only hv that amount of saving... sweat.gif doh.gif

Nom-el
post Oct 3 2016, 05:07 PM

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QUOTE(deity01 @ Sep 22 2016, 10:43 AM)
can
i tried paying my housing loan acc with RM1 and it counts fulfilling the payment criteria
*
You can even split the payment to fulfill the 3x criteria. Paying the CC counts too.


QUOTE(Ramjade @ Sep 22 2016, 07:19 PM)
Who keeps rm20k/account? Most people keep rm5-10k. Besides how often do you see an ocbc atm machine?
If a person spends like rm2k-rm3k/ month still better to go for other eGIA-i than ocbc 360.
Why? Maybank ikhwan, public bank visa signature, maybank visa signature,

Sorry la. I am anti-ocbc as I feel that they are not genuine. A genuine bank will give you clear cut way.

Let's ask cklimm for hia opinion. Is ocbc 360 worth it for some guy with rm20k in his account?
*
If the rate is attractive, I believe many would keep 20k in the account, maybe even up to 100k if they have the money. Why not? When the rate is even better than promo FD rates, why would one want to put into short-term FD. It is even better than short-term promo FD as one can withdraw anytime without any penalty.

Another thing, OCBC 360 is a savings account with PIDM protection where both the principal & interest (4.1%) are guaranteed while GIA is an investment account with no PIDM where the principal & profit (3.6%) are not guaranteed.


QUOTE(Ramjade @ Sep 23 2016, 03:18 PM)
Alright, since you tak puas hati, I give you another photo. An eg where the person don't maximise their cashback.
user posted image

Note:
1. Maybank Ikhwan usage for both comparison did not hit the maximum cashback of RM50 (as requested by deity01)
2. Spending of both is at RM1k
3. Inclusion of both OCBC Ti & CIMB CB to demonstrate stuff not covered by Maybank Ikhwan (bills/insurance/others) which also did not hit the max cash back of CIMB CB.
4. Since one need to spend min RM500 with a OCBC CC to be eliglible for the 4.1%, there's no other way to decrease the amount to lesser than RM500.
5. I did not include in the high level Maybank Visa Signature and Public Bank Visa Siganture as how many can afford to apply for them? The ones I include are Maybank Ikhwan, Cimb CB, OCBC Ti which needs only need about RM30k/year of salary. 

I think with so many proof, the result is crystal clear.  thumbup.gif  thumbup.gif

I rest my case.  biggrin.gif  biggrin.gif

OCBC 360 IS GOOD IF you compare against a normal account paying like 0.1%/1%/2.x%. But what I am saying is there are better alternatives available IF one wants to get maximum returns.
*
There are other better OCBC Cards out there that you failed to mention. For e.g. OCBC World MasterCard (1.2% rebate on the first RM1,000 spent) or OCBC 365 MasterCard (1.0% rebate on first monthly spend of RM1,000). Why compare with Titanium that only gives 0.1% rebate? There is no reason a person cannot combine OCBC card with other cards to earn more cashback. Only RM500 spending is required to qualify for the bonus interest.


QUOTE(deity01 @ Sep 23 2016, 01:26 PM)
yup...those are ideal cases..everyone hv 5% cashback card? everyone can maximise their cashback? everyone spend that much? your calculation is for the ideal world only..math is just math..real world dont use math to calculate...

I do hv ikhwan 5%, ocbc titanium, OCBC 360, placed eGIA b4..like me..i spend on gov related transactions on ocbc ti which earn me nothing from ikhwan..but still earn the miserable 0.1%CB..like I said earlier...these are just tools, you are the one who determine how to use those tools...

hv everything and use everything when it is necessary/appropriate...u so like to calculate, y dont u go calculate if ppl use the ikhwan 5% + OCBC 4.1% + OCBC ti CB will gain how much instead of keep promoting OCBC 360 is no good..this will benefits everyone the most..
shakehead.gif  doh.gif

you are talking like: ppl, please stay away from OCBC 4.1%, always say NO to OCBC360..still not bias?
I will tell everyone...please try to hv everything and use them wisely..
*
QUOTE(deity01 @ Sep 23 2016, 03:53 PM)
u are very funny, y keep on want to argue? add cimb CB pula..later u tak puas hati u can add WISE arr..M2C amex aa..CITI CB aa or watever u want..

y cannot just urge ppl to get and use whatever then hv wisely?

still Mr.Calculator, your math is just assuming ppl will get that amount of CB, hv all the card that you hv mentioned, can always spends on the categories that entitle CB..can always spend minimum 1k...ppl only hv that amount of saving... sweat.gif  doh.gif
*
I could not agree with you more. nod.gif There are so many possible scenarios where the account would be a good choice for the individual.
AIYH
post Oct 3 2016, 05:14 PM

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QUOTE(Nom-el @ Oct 3 2016, 05:07 PM)
You can even split the payment to fulfill the 3x criteria. Paying the CC counts too.
*
Means for each month credit card bill you can split your payment 3 times to consider pay 3 bills?

Even if they all performed on the same day? biggrin.gif

This post has been edited by AIYH: Oct 3 2016, 05:15 PM
Nom-el
post Oct 3 2016, 05:20 PM

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Yes. nod.gif
deity01
post Oct 4 2016, 04:02 PM

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QUOTE(Nom-el @ Oct 3 2016, 05:07 PM)
You can even split the payment to fulfill the 3x criteria. Paying the CC counts too.
If the rate is attractive, I believe many would keep 20k in the account, maybe even up to 100k if they have the money. Why not? When the rate is even better than promo FD rates, why would one want to put into short-term FD. It is even better than short-term promo FD as one can withdraw anytime without any penalty.  

Another thing, OCBC 360 is a savings account with PIDM protection where both the principal & interest (4.1%) are guaranteed while GIA is an investment account with no PIDM where the principal & profit (3.6%) are not guaranteed.
There are other better OCBC Cards out there that you failed to mention. For e.g. OCBC World MasterCard (1.2% rebate on the first RM1,000 spent) or OCBC 365 MasterCard (1.0% rebate on first monthly spend of RM1,000). Why compare with Titanium that only gives 0.1% rebate? There is no reason a person cannot combine OCBC card with other cards to earn more cashback. Only RM500 spending is required to qualify for the bonus interest.
I could not agree with you more. nod.gif There are so many possible scenarios where the account would be a good choice for the individual.
*
because he purposely want to took the card that I hv to do the calculation since I said I use that card to pay ptptn

This post has been edited by deity01: Oct 4 2016, 04:02 PM
AIYH
post Oct 5 2016, 08:54 PM

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hey, I just transfer all the money from ocbc 360 leaving it 0, will the account closed on its own?

anyone having this can share their experience? smile.gif
AIYH
post Oct 6 2016, 10:30 AM

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QUOTE(AIYH @ Oct 5 2016, 08:54 PM)
hey, I just transfer all the money from ocbc 360 leaving it 0, will the account closed on its own?

anyone having this can share their experience? smile.gif
*
bump
Ramjade
post Oct 6 2016, 10:36 AM

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QUOTE(AIYH @ Oct 6 2016, 10:30 AM)
bump
*
Don't worry. It won't close. *don't have a ocbc account but experience from other banks with zero amount*
lil_flank
post Oct 15 2016, 01:09 PM

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Does anyone have issue receiving TAC sms from OCBC?
I am trying to login their OCBC online banking but most of the time i do not receive the TAC sms. doh.gif

This post has been edited by lil_flank: Oct 15 2016, 01:17 PM
cybpsych
post Oct 15 2016, 07:08 PM

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QUOTE(lil_flank @ Oct 15 2016, 01:09 PM)
Does anyone have issue receiving TAC sms from OCBC?
I am trying to login their OCBC online banking but most of the time i do not receive the TAC sms. doh.gif
*
yep, problematic.

just press resend button. will get it immediately.

few minutes later, the login-triggered SMS comes in pulak. really faint.
lil_flank
post Oct 15 2016, 08:15 PM

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QUOTE(cybpsych @ Oct 15 2016, 07:08 PM)
yep, problematic.

just press resend button. will get it immediately.

few minutes later, the login-triggered SMS comes in pulak. really faint.
*
I am working oversea so my Malaysia number is on auto roam. Last few weeks, i will receive the sms after i click resend button. This week, i need to restart my hp and click 3-4 times resend to receive the sms. I called in OCBC, they say the problem lies with my telco and auto roam. But i have no problem receiving tac sms from Public bank, Hong Leong, and Maybank. I called Tunetalk, they say the problem lies with OCBC. I asked OCBC whether does other customers have this issue, they say 'Yes' but there is nothing much they can do. The only advice OCBC tell me is to restart my hp and click resend up to 3 times. Or call my Telco. <facepalm>
Raymond T.
post Nov 12 2016, 07:21 PM

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Does OCBC bank provide Debit Card ? As im still using ATM only card at the moment.
raymond5105
post Nov 12 2016, 08:31 PM

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QUOTE(Raymond T. @ Nov 12 2016, 07:21 PM)
Does OCBC bank provide Debit Card ? As im still using ATM only card at the moment.
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There is no debit card from them.
Raymond T.
post Nov 12 2016, 11:07 PM

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QUOTE(raymond5105 @ Nov 12 2016, 08:31 PM)
There is no debit card from them.
*
I see ... That day I try withdraw from random ATM rejected.
raymond5105
post Nov 13 2016, 03:28 PM

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QUOTE(Raymond T. @ Nov 12 2016, 11:07 PM)
I see ... That day I try withdraw from random ATM rejected.
*
Debit cards/ ATM cards should be able to withdraw from any atm now, not restricted to its own bank's atm machine.
cybpsych
post Dec 24 2016, 02:36 PM

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user posted image

Learn More | Terms and Conditions Apply

user posted image

This post has been edited by cybpsych: Dec 24 2016, 02:38 PM
labtec
post Feb 12 2017, 10:08 AM

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Can ocbc able to place time deposit through their online account?
newbiz2008
post Mar 1 2017, 02:50 PM

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Sg ocbc 360 has revised new t&c
From next month minimum deposit change from 500 to 2000
Nom-el
post May 23 2017, 01:48 PM

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OCBC has revised the terms & conditions for OCBC 360 Account: -

https://www.ocbc.com.my/assets/pdf/Accounts...1115_ACC360.pdf


Among the highlights are: -

1) Credit card bill payment is no longer considered as eligible for Bill Payment category for Bonus Interest

2) Multiple payments to the same account will be considered 1 payment only, meaning split payment does not work anymore

3) IBG payment to other banks will be included as well in Bill Payment category

4) Minimum balance is RM0 now instead of RM20. However, account with RM0 balance for more than 90 days will be closed.

jfleong
post Jun 18 2017, 06:46 PM

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Hey, does anyone here knows if JomPay counts as Bill Payment?
or is it their billing organisations only ?
cklimm
post Jun 19 2017, 07:45 AM

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QUOTE(Nom-el @ May 23 2017, 01:48 PM)
OCBC has revised the terms & conditions for OCBC 360 Account: -

https://www.ocbc.com.my/assets/pdf/Accounts...1115_ACC360.pdf
Among the highlights are: -

1) Credit card bill payment is no longer considered as eligible for Bill Payment category for Bonus Interest

2) Multiple payments to the same account will be considered 1 payment only, meaning split payment does not work anymore

3) IBG payment to other banks will be included as well in Bill Payment category

4) Minimum balance is RM0 now instead of RM20. However, account with RM0 balance for more than 90 days will be closed.
*
problem solved
Attached Image
deity01
post Jun 19 2017, 04:48 PM

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QUOTE(Nom-el @ May 23 2017, 01:48 PM)
OCBC has revised the terms & conditions for OCBC 360 Account: -

https://www.ocbc.com.my/assets/pdf/Accounts...1115_ACC360.pdf
Among the highlights are: -

1) Credit card bill payment is no longer considered as eligible for Bill Payment category for Bonus Interest

2) Multiple payments to the same account will be considered 1 payment only, meaning split payment does not work anymore

3) IBG payment to other banks will be included as well in Bill Payment category

4) Minimum balance is RM0 now instead of RM20. However, account with RM0 balance for more than 90 days will be closed.
*
hmmm..still ok for me...not much affected...take out 1) but gv me 3), which is achievable for me...but sure Instant Fund Transfer (IFT) count or not...just need to take note of 2)
Tutuppintu
post Jul 3 2017, 11:09 PM

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QUOTE(cklimm @ Jun 19 2017, 07:45 AM)
problem solved
Attached Image
*
Did u manage to get the bonus interest by doing 3 transfers to other banks and accounts? (Paying 3 bills criteria)
cklimm
post Jul 4 2017, 12:57 AM

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QUOTE(Tutuppintu @ Jul 3 2017, 11:09 PM)
Did u manage to get the bonus interest by doing  3 transfers to other banks and accounts? (Paying 3 bills criteria)
*
yup nod.gif
stup1degg
post Jul 4 2017, 09:14 PM

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QUOTE(cklimm @ Jun 19 2017, 07:45 AM)
problem solved
Attached Image
*
hi, is this IBG transfer to other bank saving/current account? will consider "bill payment"?

if i pay bill using ocbc online banking by rm1 to TNB, rm1 to maxis, rm1 to tm, will this consider 3 x "bill payment"?

thank you
Tutuppintu
post Jul 6 2017, 10:44 AM

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QUOTE(cklimm @ Jul 4 2017, 12:57 AM)
yup  nod.gif
*
thank you for your prompt reply. smile.gif in sandakan, we only have OCBC al Amin, so im using the 360i, since they say islamic bank cannot have credit card, i have to use their debit card RM500 a month.
Last month i did 3 'bills' payment on the 28th june, (to 3 different credit cards) but didn't meet the criteria sadly. I already did deposit RM500 and use RM500 on the debit card.

This month cuba again, already spent RM500, already bank in RM500, now to transfer IBG 3 different accounts and hopefully i get all the bonus interest

happy earning 4.1% thumbup.gif thumbup.gif


stup1degg
post Jul 6 2017, 04:07 PM

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QUOTE(Tutuppintu @ Jul 6 2017, 10:44 AM)
thank you for your prompt reply. smile.gif in sandakan, we only have OCBC al Amin, so im using the 360i, since they say islamic bank cannot have credit card, i have to use their debit card RM500 a month.
Last month i did 3 'bills' payment on the 28th june, (to 3 different credit cards) but didn't meet the criteria sadly. I already did deposit RM500 and use RM500 on the debit card.

This month cuba again, already spent RM500, already bank in RM500, now to transfer IBG 3 different accounts and hopefully i get all the bonus interest

happy earning 4.1% thumbup.gif  thumbup.gif
*
hi,
issit using IBG to pay 3 different bank's credit card, didn't qualify for the "3 x bill payment" ?
thank you~
Ramjade
post Jul 6 2017, 04:16 PM

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QUOTE(stup1degg @ Jul 6 2017, 04:07 PM)
hi,
issit using IBG to pay 3 different bank's credit card, didn't qualify for the "3 x bill payment" ?
thank you~
*
IBG to 3 different bank account. Not credit card.
Nom-el
post Jul 6 2017, 05:05 PM

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QUOTE(stup1degg @ Jul 4 2017, 09:14 PM)
hi, is this IBG transfer to other bank saving/current account? will consider "bill payment"?

if i pay bill using ocbc online banking by rm1 to TNB,  rm1 to maxis, rm1 to tm, will this consider 3 x "bill payment"?

thank you
*
Yes, all considered as "bill payment" including IBFT. IBFT is currently free until 28/9/2017.


QUOTE(Tutuppintu @ Jul 6 2017, 10:44 AM)
thank you for your prompt reply. smile.gif in sandakan, we only have OCBC al Amin, so im using the 360i, since they say islamic bank cannot have credit card, i have to use their debit card RM500 a month.
Last month i did 3 'bills' payment on the 28th june, (to 3 different credit cards) but didn't meet the criteria sadly. I already did deposit RM500 and use RM500 on the debit card.

This month cuba again, already spent RM500, already bank in RM500, now to transfer IBG 3 different accounts and hopefully i get all the bonus interest

happy earning 4.1% thumbup.gif  thumbup.gif
*
The 3 different credit cards are all from OCBC or from different banks? If from OCBC then, will not qualify for bonus interest. Else, should be eligible but I have not tried it before so cannot confirm.
Tutuppintu
post Jul 12 2017, 03:57 PM

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QUOTE(Nom-el @ Jul 6 2017, 05:05 PM)
The 3 different credit cards are all from OCBC or from different banks? If from OCBC then, will not qualify for bonus interest. Else, should be eligible but I have not tried it before so cannot confirm.
*
i paid 3 different credit card (2 from maybank with AMEX and MASTECARD and 1 from UOB VISA) all didn't qualify.

as one forumer had mentioned.. IBG does qualify. So I am going to try to transfer to 3 different bank accounts this month.

If this month i dun get the full 4.1%.. then i will do the RM1 to TM, RM1 to ELECTRICITY and RM1 to DIGI bill.

lil_flank
post Jul 16 2017, 11:43 PM

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QUOTE(Tutuppintu @ Jul 12 2017, 03:57 PM)
i paid 3 different credit card (2 from maybank with AMEX and MASTECARD and 1 from UOB VISA) all didn't qualify.

as one forumer had mentioned.. IBG does qualify. So I am going to try to transfer to 3 different bank accounts this month.

If this month i dun get the full 4.1%.. then i will do the RM1 to TM, RM1 to ELECTRICITY and RM1 to DIGI bill.
*
I tried paying bill of Rm5 but cannot. Min is Rm10 for each bill if i remembered correctly.
Nom-el
post Aug 6 2017, 03:27 PM

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QUOTE(Tutuppintu @ Jul 12 2017, 03:57 PM)
i paid 3 different credit card (2 from maybank with AMEX and MASTECARD and 1 from UOB VISA) all didn't qualify.

as one forumer had mentioned.. IBG does qualify. So I am going to try to transfer to 3 different bank accounts this month.

If this month i dun get the full 4.1%.. then i will do the RM1 to TM, RM1 to ELECTRICITY and RM1 to DIGI bill.
*
How did you know you the credit card payments did not qualify for the bonus interest? Did you confirm with customer service or did you assume that is the case?
Did you managed to get the full 4.1% after trying with IBG then to other banks?

I also experienced not getting the correct bonus interest recently for OCBC 360 Account-i. I fulfilled all the conditions but did not get the full bonus interest. I checked with customer service and was told I did not spend RM500 on my debit card. I checked my transactions online and the total spending was indeed RM500 or more. Some were posted as MyDebit while others were posted as Mastercard transactions. Maybe that was the problem. I forwarded the records to the bank and still waiting for their response.

Anyone else having this problem?
vinn
post Aug 6 2017, 07:35 PM

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QUOTE(Nom-el @ Aug 6 2017, 03:27 PM)
How did you know you the credit card payments did not qualify for the bonus interest? Did you confirm with customer service or did you assume that is the case?
Did you managed to get the full 4.1% after trying with IBG then to other banks?

I also experienced not getting the correct bonus interest recently for OCBC 360 Account-i. I fulfilled all the conditions but did not get the full bonus interest. I checked with customer service and was told I did not spend RM500 on my debit card. I checked my transactions online and the total spending was indeed RM500 or more. Some were posted as MyDebit while others were posted as Mastercard transactions. Maybe that was the problem. I forwarded the records to the bank and still waiting for their response.

Anyone else having this problem?
*
The 1.2% apply to debit card as well? Thought only credit card is eligible hmm.gif
justanovice
post Aug 6 2017, 09:07 PM

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QUOTE(vinn @ Aug 6 2017, 07:35 PM)
The 1.2% apply to debit card as well? Thought only credit card is eligible hmm.gif
*
If you open account with ocbc al amin branch (islamic banking) then must use debit card to fulfill rm500 spending. Islamic branch do not have credit card.
If you open account with ocbc conventional branch, then must use their credit card instead.
vinn
post Aug 7 2017, 12:27 AM

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QUOTE(justanovice @ Aug 6 2017, 09:07 PM)
If you open account with ocbc al amin branch (islamic banking) then must use debit card to fulfill rm500 spending. Islamic branch do not have credit card.
If you open account with ocbc conventional branch, then must use their credit card instead.
*
I see. so the Islamic banking account will be 360-i account?
Nom-el
post Aug 8 2017, 02:59 PM

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QUOTE(justanovice @ Aug 6 2017, 09:07 PM)
If you open account with ocbc al amin branch (islamic banking) then must use debit card to fulfill rm500 spending. Islamic branch do not have credit card.
If you open account with ocbc conventional branch, then must use their credit card instead.
*
OCBC Al-Amin only offers islamic banking products, so can only open 360 Account-i. However, for conventional branches, they offer both conventional & islamic accounts, so both accounts can be opened there as well.

QUOTE(vinn @ Aug 7 2017, 12:27 AM)
I see. so the Islamic banking account will be 360-i account?
*
Yes.
Tutuppintu
post Aug 9 2017, 12:21 PM

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QUOTE(Nom-el @ Aug 6 2017, 03:27 PM)
How did you know you the credit card payments did not qualify for the bonus interest? Did you confirm with customer service or did you assume that is the case?
Did you managed to get the full 4.1% after trying with IBG then to other banks?

I also experienced not getting the correct bonus interest recently for OCBC 360 Account-i. I fulfilled all the conditions but did not get the full bonus interest. I checked with customer service and was told I did not spend RM500 on my debit card. I checked my transactions online and the total spending was indeed RM500 or more. Some were posted as MyDebit while others were posted as Mastercard transactions. Maybe that was the problem. I forwarded the records to the bank and still waiting for their response.

Anyone else having this problem?
*
hi.

yes i got my 4.1% for 360-i account for july (note im using islamic bank) by doing the following:

Deposit RM500

Use the debit card RM500

Transfer RM11 X 3 to different bank accounts (3 to maybank all different bank account no)


Attached Image
pix above is june when i did not meet the 'bill payment' criteria (as credit card bill payment apparently doesn't qualify after speaking to OCBC customer service)

Attached Image
pix above is july when i did as what i mentioned above in this post.

I do not know why the description for spending profit is different in june vs july .. but i am certain i did not earn the bill payment criteria in june because of credit card payments.

and in case any other forumer worried if you set 'goals' on OCBC online banking platformo it will affect you earning the interest. Answer is, it will not affect your interest when you set goals. So go ahead and set goals if it helps. I have earned my 4.1% setting goals + doing the above.

This month i will try to do a combo of online purchase + local spend for the debit card and will report back if online spending with debit card DOES NOT qualify. but it should based on my understanding..
happy earning 4.1% thumbup.gif



This post has been edited by Tutuppintu: Aug 9 2017, 12:29 PM
Tutuppintu
post Aug 9 2017, 12:39 PM

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QUOTE(Nom-el @ Aug 6 2017, 03:27 PM)
How did you know you the credit card payments did not qualify for the bonus interest? Did you confirm with customer service or did you assume that is the case?
Did you managed to get the full 4.1% after trying with IBG then to other banks?

I also experienced not getting the correct bonus interest recently for OCBC 360 Account-i. I fulfilled all the conditions but did not get the full bonus interest. I checked with customer service and was told I did not spend RM500 on my debit card. I checked my transactions online and the total spending was indeed RM500 or more. Some were posted as MyDebit while others were posted as Mastercard transactions. Maybe that was the problem. I forwarded the records to the bank and still waiting for their response.

Anyone else having this problem?
*
as i live in small town, there are only that few merchants that let us use debit/credit card to pay for goods.

below what showed up in mine for july spending
Attached Image

this month august.. i have a different description on my statement when i made a purchase with debit card.. i will report back IF it doesn't qualify

Attached Image
Nom-el
post Aug 9 2017, 07:10 PM

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QUOTE(Tutuppintu @ Aug 9 2017, 12:21 PM)
hi.

yes i got my 4.1% for 360-i account for july (note im using islamic bank) by doing the following:

Deposit RM500

Use the debit card RM500

Transfer RM11 X 3 to different bank accounts (3 to maybank all different bank account no)
Attached Image
pix above is june when i did not meet the 'bill payment' criteria (as credit card bill payment apparently doesn't qualify after speaking to OCBC customer service)

Attached Image
pix above is july when i did as what i mentioned above in this post.

I do not know why the description for spending profit is different in june vs july .. but i am certain i did not earn the bill payment criteria in june because of credit card payments.

and in case any other forumer worried if you set 'goals' on OCBC online banking platformo it will affect you earning the interest. Answer is, it will not affect your interest when you set goals. So go ahead and set goals if it helps. I have earned my 4.1% setting goals + doing the above.

This month i will try to do a combo of online purchase + local spend for the debit card and will report back if online spending with debit card DOES NOT qualify. but it should based on my understanding..
happy earning 4.1% thumbup.gif
*
QUOTE(Tutuppintu @ Aug 9 2017, 12:39 PM)
as i live in small town, there are only that few merchants that let us use debit/credit card to pay for goods.

below what showed up in mine for july spending
Attached Image

this month august.. i have a different description on my statement when i made a purchase with debit card.. i will report back IF it doesn't qualify

Attached Image
*
Thanks for sharing. Both online & offline spend for the debit card are counted for the total debit card spend. My issue has been resolved by the bank. The dept. doing the calculation calculated the total wrongly, it seemed. I was initially told that my spending was only roughly half the required amount. I don't know how they managed to get that amount, I guess maybe they calculated the MyDebit & DC entries separately. Hope they have resolved the issue & this won't happen again in subsequent months. So, do check the bonus interest to ensure that the amount is correct.
lil_flank
post Aug 11 2017, 08:51 AM

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This savings account offers one of the highest interest. I wonder how come it is not popular.
cklimm
post Aug 11 2017, 09:24 AM

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QUOTE(lil_flank @ Aug 11 2017, 08:51 AM)
This savings account offers one of the highest interest. I wonder how come it is not popular.
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if its too popular, the rate will goes down yo
lil_flank
post Aug 11 2017, 09:45 AM

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QUOTE(cklimm @ Aug 11 2017, 09:24 AM)
if its too popular, the rate will goes down yo
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Haha.. true too.
Tutuppintu
post Aug 11 2017, 03:27 PM

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QUOTE(lil_flank @ Aug 11 2017, 08:51 AM)
This savings account offers one of the highest interest. I wonder how come it is not popular.
*
In bigger cities, my guess is it is not easy to find an OCBC ATM machine and people don't have the time to 'open' an account cus busy working day in day out. Beside, salary in cities are higher.. what's RM20 interest earn to them in a month? it's probably only worth 1 day's parking and toll charges... some rather just earn a flat rate 2.95% or lock up their money in 12 month f.d.. save them the so called 'trouble' of fulfilling and monitoring the criterias OCBC imposes..


In small towns, all banks are congregated in the same area. So doesn't make much difference in terms of convenience..and more time to kepo which bank gives the highest interest to make the money work harder for them. lol.

just my 2 sen worth of comments..
lil_flank
post Aug 12 2017, 10:09 AM

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QUOTE(Tutuppintu @ Aug 11 2017, 03:27 PM)
In bigger cities, my guess is it is not easy to find an OCBC ATM machine and people don't have the time to 'open' an account cus busy working day in day out. Beside, salary in cities are higher.. what's RM20 interest earn to them in a month? it's probably only worth 1 day's parking and toll charges... some rather just earn a flat rate 2.95% or lock up their money in 12 month f.d.. save them the so called 'trouble' of fulfilling and monitoring the criterias OCBC imposes..
In small towns, all banks are congregated in the same area. So doesn't make much difference in terms of convenience..and more time to kepo which bank gives the highest interest to make the money work harder for them. lol.

just my 2 sen worth of comments..
*
Yeah, some people dont have the time to do this and that so they rather just put in FD. Less hassle..
justanovice
post Aug 12 2017, 01:37 PM

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Tutuppintu may i know the 3 transfer to your MBB account is using ibg or instant transfer?
Thanks
AskarPerang
post Aug 13 2017, 06:46 PM

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Hi, a quick question here.

The RM500 usage on OCBC Credit Card counted only for swiped usage? Is online usage / purchase using OCBC Credit Card counted to this RM500 amount? Thanks.
Nom-el
post Aug 14 2017, 05:42 PM

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QUOTE(justanovice @ Aug 12 2017, 01:37 PM)
Tutuppintu may i know the 3 transfer to your MBB account is using ibg or instant transfer?
Thanks
*
I have tried both and both also count as bill payment.


QUOTE(AskarPerang @ Aug 13 2017, 06:46 PM)
Hi, a quick question here.

The RM500 usage on OCBC Credit Card counted only for swiped usage? Is online usage / purchase using OCBC Credit Card counted to this RM500 amount? Thanks.
*
No. Online purchase included as well.
justanovice
post Aug 14 2017, 07:52 PM

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QUOTE(Nom-el @ Aug 14 2017, 05:42 PM)
I have tried both and both also count as bill payment.
No. Online purchase included as well.
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Great, thanks ! Done many instant transfer due to it's free till end of sep wink.gif
twwong
post Aug 17 2017, 07:10 PM

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Hi I just opened my OCBC 360 account 2 days ago, I can see it online now but can only transfer funds in not out, and can't use it to pay bills. How long do I need to wait..? Thanks
lil_flank
post Aug 18 2017, 08:21 AM

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Is paying an OCBC credit card or other bank credit cards using Ocbc Online banking considered as bill payment?
Tutuppintu
post Aug 18 2017, 03:09 PM

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QUOTE(lil_flank @ Aug 18 2017, 08:21 AM)
Is paying an OCBC credit card or other bank credit cards using Ocbc Online banking considered as bill payment?
*
i dunno about paying OCBC credit Card, but other bank credit card using OCBC online banking DOES NOT considered as bill payment.

But IBG or Instant Transfer is considered as long u transfer more than RM10. So just transfer RM11 to be on the safe side to 3 different bank account numbers (even though same bank is ok)
cklimm
post Aug 18 2017, 04:44 PM

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QUOTE(twwong @ Aug 17 2017, 07:10 PM)
Hi I just opened my OCBC 360 account 2 days ago, I can see it online now but can only transfer funds in not out, and can't use it to pay bills. How long do I need to wait..? Thanks
*
you need to check with the bank, either visit counter or call em up
AskarPerang
post Aug 18 2017, 09:11 PM

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can I open an account without taking any credit card? happy with 2.9% pa just to enjoy the flexibility of parking the money and moving out whenever I want.
cklimm
post Aug 19 2017, 09:32 AM

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QUOTE(AskarPerang @ Aug 18 2017, 09:11 PM)
can I open an account without taking any credit card? happy with 2.9% pa just to enjoy the flexibility of parking the money and moving out whenever I want.
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you can do well with debit card
Nom-el
post Aug 19 2017, 12:57 PM

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QUOTE(lil_flank @ Aug 18 2017, 08:21 AM)
Is paying an OCBC credit card or other bank credit cards using Ocbc Online banking considered as bill payment?
*
QUOTE(Tutuppintu @ Aug 18 2017, 03:09 PM)
i dunno about paying OCBC credit Card, but other bank credit card using OCBC online banking DOES NOT considered as bill payment.

But IBG or Instant Transfer is considered as long u transfer more than RM10. So just transfer RM11 to be on the safe side to 3 different bank account numbers (even though same bank is ok)
*
According to another forummer from the FD thread, payment to OCBC credit card is considered as bill payment as well. As for transfer, no need more than RM10 to qualify, any amount would do. Did you see the terms somewhere or did someone tell you about that?

QUOTE(newbiz2008 @ Aug 14 2017, 12:49 PM)
From which source you get this info?
Just call OCBC call center, only GIRO to other bank consider as 1 bill payment and the payment to ocbc credit card still consider as bill payment
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QUOTE(twwong @ Aug 17 2017, 07:10 PM)
Hi I just opened my OCBC 360 account 2 days ago, I can see it online now but can only transfer funds in not out, and can't use it to pay bills. How long do I need to wait..? Thanks
*
I have experienced this a few times before after opening a new account with OCBC. Dunno why but somehow the account is not linked. Call OCBC call centre to activate / link the account for you. You can start using the account after that.



This post has been edited by Nom-el: Aug 19 2017, 01:07 PM
justanovice
post Aug 19 2017, 11:34 PM

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QUOTE(AskarPerang @ Aug 18 2017, 09:11 PM)
can I open an account without taking any credit card? happy with 2.9% pa just to enjoy the flexibility of parking the money and moving out whenever I want.
*
Yes, can.
degionz
post Aug 22 2017, 08:10 PM

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Guys,
Few question here
Every month deposit minimum rm500 to earn interest 1.2% so if my salary credit to ocbc 360 account it base on rm500 interest?

Sorry for my bad english 😐

This post has been edited by degionz: Aug 22 2017, 08:11 PM
twwong
post Aug 26 2017, 03:02 AM

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QUOTE(Nom-el @ Aug 19 2017, 12:57 PM)
According to another forummer from the FD thread, payment to OCBC credit card is considered as bill payment as well. As for transfer, no need more than RM10 to qualify, any amount would do. Did you see the terms somewhere or did someone tell you about that?
I have experienced this a few times before after opening a new account with OCBC. Dunno why but somehow the account is not linked. Call OCBC call centre to activate / link the account for you. You can start using the account after that.
*
Ya thanks I went to the bank to tag my account for online banking, within 1 hour I can use it for bills and transfers, enjoy the interest earning spree . . ! ! !
raymond5105
post Aug 26 2017, 10:33 PM

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QUOTE(degionz @ Aug 22 2017, 08:10 PM)
Guys,
Few question here
Every month deposit minimum rm500 to earn interest 1.2% so if my salary credit to ocbc 360 account it base on rm500 interest?

Sorry for my bad english 😐
*
Minimum deposit is RM500 to earn 1.2% from its total of 4.1%. Salary you bank in will count interest with your balance amount available in your 360 account.

degionz
post Aug 26 2017, 11:00 PM

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QUOTE(raymond5105 @ Aug 26 2017, 10:33 PM)
Minimum deposit is RM500 to earn 1.2% from its total of 4.1%. Salary you bank in will count interest with your balance amount available in your 360 account.
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Ok thanks raymond 👍
dimpledbrain
post Sep 13 2017, 10:05 AM

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QUOTE(Ramjade @ Apr 13 2016, 05:12 AM)
ronnie
First, max you can get from this account is 2.9%
0.5% - Base Interest (based on current Board Rate for Savings)
1.20% - Deposit minimum RM500 per month
1.20% - Pay minimum 3 bills via OCBC 360 Account using OCBC Online Banking portal (includes Standing Instructions for Loan repayment and OCBC Credit Card payment) - I think paying RM1 for bill is also eligible -Don't pay more than RM1. Not sure if it works. Why RM1? I will get to that later
1.20% - Spend minimum RM500 on your OCBC Credit Card - NOT RECOMMENDED

So why spend RM1 on bills and not more on OCBC?
1. Paying via OCBC will not give you cashback (for those who holds CB cards)
2. By using UOB VOX (5% CB for transaction above RM50) via UOBPAYONLINE and HLB WISE (10% CB if meet the T&C) via merchants which allow paying of bills, one can easily get >1.2%. rclxm9.gif
3. RM1 is usually the min transaction a banks allow.

Why spending min RM500 on your OCBC Credit Card is NOT RECOMMENDED?
1. According to Gen-X, OCBC CC are useless. CB is pathetic.
2. Why settle for pathetic CB when other cards give min 5% CB which I am sure is more than the 1.2%p.a interest.

That sums it all up to show that to get max cashback (more money), you can only get max 2.9% from OCBC 360 SA.
*
thanks for the summary. exactly wat i needed
Ramjade
post Sep 13 2017, 10:41 AM

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QUOTE(dimpledbrain @ Sep 13 2017, 10:05 AM)
thanks for the summary. exactly wat i needed
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Ini sudah outdated info sweat.gif
Nom-el
post Oct 30 2017, 12:05 PM

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Debit card spending is now also eligible for bonus interest for OCBC 360 Account. Refer to the latest T&C from OCBC.

https://www.ocbc.com.my/assets/pdf/Accounts..._ACC360_PIS.pdf

https://www.ocbc.com.my/assets/pdf/Accounts...1115_ACC360.pdf
lil_flank
post Oct 30 2017, 11:08 PM

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QUOTE(Nom-el @ Oct 30 2017, 12:05 PM)
Debit card spending is now also eligible for bonus interest for OCBC 360 Account. Refer to the latest T&C from OCBC.

https://www.ocbc.com.my/assets/pdf/Accounts..._ACC360_PIS.pdf

https://www.ocbc.com.my/assets/pdf/Accounts...1115_ACC360.pdf
*
That's great for those who unable to apply an Ocbc credit card.
AskarPerang
post Oct 30 2017, 11:21 PM

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RM500 credit/debit card usage monthly. Can use so much?
MilesAndMore
post Oct 30 2017, 11:23 PM

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QUOTE(AskarPerang @ Oct 30 2017, 11:21 PM)
RM500 credit/debit card usage monthly. Can use so much?
*
It’s definitely possible.
Sumofwhich
post Dec 27 2017, 09:58 PM

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QUOTE(lil_flank @ Jul 16 2017, 11:43 PM)
I tried paying bill of Rm5 but cannot. Min is Rm10 for each bill if i remembered correctly.
*
I think RM5 is the minimum for all bills payment via OCBC Online Banking, tried Maxis and TNB, unless it's JomPay where RM1 might be possible

This post has been edited by Sumofwhich: Dec 27 2017, 10:04 PM
David_Yang
post Dec 31 2017, 08:27 PM

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Hi there, any idea how I can meet the 3 bills criteria?

The only bills I have to pay is TNB and Indah Water (every 2 months).
Sumofwhich
post Jan 2 2018, 04:32 PM

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QUOTE(David_Yang @ Dec 31 2017, 08:27 PM)
Hi there, any idea how I can meet the 3 bills criteria?

The only bills I have to pay is TNB and Indah Water (every 2 months).
*
According to earlier posts, IBG to 3 other bank accounts works too right?
MilesAndMore
post Jan 3 2018, 12:20 AM

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QUOTE(Sumofwhich @ Jan 2 2018, 04:32 PM)
According to earlier posts, IBG to 3 other bank accounts works too right?
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Yes
David_Yang
post Jan 3 2018, 11:45 AM

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QUOTE(MilesAndMore @ Jan 3 2018, 01:20 AM)
Yes
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Thanks will try!

rainbird
post Jan 16 2018, 12:48 AM

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QUOTE(Sumofwhich @ Jan 2 2018, 04:32 PM)
According to earlier posts, IBG to 3 other bank accounts works too right?
*
Does OCBC charge any fee to IBG to other banks' accounts?

Does OCBC charge any fee to pay bills such as TNB?

Reason i asked is because Maybank do charge a fee.

This post has been edited by rainbird: Jan 16 2018, 12:49 AM
kyle_kl
post Jan 16 2018, 08:02 AM

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QUOTE(rainbird @ Jan 16 2018, 12:48 AM)
Does OCBC charge any fee to IBG to other banks' accounts?

Does OCBC charge any fee to pay bills such as TNB?

Reason i asked is because Maybank do charge a fee.
*
IBG charge is standard RM0.11 including gst.
No charge on bill payment.
vrek
post Jan 16 2018, 07:59 PM

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As far as I know, all banks charge a standard RM0.11 for IBG and RM0.53 for immediate transfer. Bill payments are never charged a fee. These charges are regulated by BNM. Sometimes, some banks don't charge as part of promotion period. Otherwise, they charge the standard fee.
David_Yang
post Feb 2 2018, 08:48 PM

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QUOTE(kyle_kl @ Jan 16 2018, 09:02 AM)
IBG charge is standard RM0.11 including gst.
No charge on bill payment.
*
I was not charged the 0.11 fee, maybe because of Premier Banking?

Anyway, it worked, Got the bonus three times, was worth it, because I left a lot of cash on the 360 account.

3*45 RM, that is good for a couple of extra laksas this month, almost a steak at Ipohs famous Volcano Grill rclxms.gif
sidefulnes
post Feb 5 2018, 12:58 AM

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Just opened the 360 account rclxm9.gif
Its nice that I get a little more than average SA...my previous SA interest so little until cannot see any diff even though I rajin deposit ( 0.0X% p.a ) shakehead.gif
So I'm more than happy for 2.9% p.a ( I don't own a CC and I don't see the point in spending from my debit yet.. sweat.gif )

Quote from the T&C

A “Bill Payment” means a payment from the Eligible Customer’s OCBC 360 Account made :
(i) through retail payment channel of OCBC Online Banking or OCBC Internet Banking to :
(a) the Eligible Customer’s OCBC home loan facility; or
(b) any account with any bank or financing institution other than OCBC Bank; or
© any participating billing organisations; or
but excluding any payment by the Financial Process Exchange (FPX) platform
(ii) pursuant to standing instruction to the Customer’s OCBC home loan facility.

Does it include Instant Transfer?

Ramjade
post Feb 5 2018, 04:19 AM

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QUOTE(sidefulnes @ Feb 5 2018, 12:58 AM)
Just opened the 360 account rclxm9.gif
Its nice that I get a little more than average SA...my previous SA interest so little until cannot see any diff even though I rajin deposit ( 0.0X% p.a ) shakehead.gif
So I'm more than happy for 2.9% p.a ( I don't own a CC and I don't see the point in spending from my debit yet.. sweat.gif )
*
Sorry. Not high enough. Philip Money market fund offer you 3.53%p a. FSM CMF2 offer returns of 3.3.x%p.a

If you want free IBG/IBFT, Standard chartered justone account is the account for you. Get to keep RM0-20 inside and still get free IBG/IBFT

UOB having promo until end of the year for free fund transfer. Can refer few pages back.
jhlou
post Feb 5 2018, 09:39 AM

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Instant Transfer/Giro is fine as long as to a Savings/Current account.

QUOTE(sidefulnes @ Feb 5 2018, 12:58 AM)
Just opened the 360 account rclxm9.gif
Its nice that I get a little more than average SA...my previous SA interest so little until cannot see any diff even though I rajin deposit ( 0.0X% p.a ) shakehead.gif
So I'm more than happy for 2.9% p.a ( I don't own a CC and I don't see the point in spending from my debit yet.. sweat.gif )

Quote from the T&C

A “Bill Payment” means a payment from the Eligible Customer’s OCBC 360 Account made :
(i) through retail payment channel of OCBC Online Banking or OCBC Internet Banking to :
(a) the Eligible Customer’s OCBC home loan facility; or
(b) any account with any bank or financing institution other than OCBC Bank; or
© any participating billing organisations; or
but excluding any payment by the Financial Process Exchange (FPX) platform
(ii) pursuant to standing instruction to the Customer’s OCBC home loan facility.

Does it include Instant Transfer?
*
shuin1986
post Feb 8 2018, 12:17 AM

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QUOTE(sidefulnes @ Feb 5 2018, 12:58 AM)
Just opened the 360 account rclxm9.gif
Its nice that I get a little more than average SA...my previous SA interest so little until cannot see any diff even though I rajin deposit ( 0.0X% p.a ) shakehead.gif
So I'm more than happy for 2.9% p.a ( I don't own a CC and I don't see the point in spending from my debit yet.. sweat.gif )

Quote from the T&C

A “Bill Payment” means a payment from the Eligible Customer’s OCBC 360 Account made :
(i) through retail payment channel of OCBC Online Banking or OCBC Internet Banking to :
(a) the Eligible Customer’s OCBC home loan facility; or
(b) any account with any bank or financing institution other than OCBC Bank; or
© any participating billing organisations; or
but excluding any payment by the Financial Process Exchange (FPX) platform
(ii) pursuant to standing instruction to the Customer’s OCBC home loan facility.

Does it include Instant Transfer?
*
If you don't feel like completing 4.10% requirements for OCBC, AND your saving is above RM20,001, you should consider UOB eAccount:
1. for RM20,001 - RM50,000 you get 3.13% interest
2. for RM50,001+ you get 3.60% interest

Giro or Insta will do, to any bank excluding OCBC bank.
sidefulnes
post Feb 10 2018, 05:08 PM

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QUOTE(jhlou @ Feb 5 2018, 09:39 AM)
Instant Transfer/Giro is fine as long as to a Savings/Current account.
*
Nice! Thanks!

QUOTE(shuin1986 @ Feb 8 2018, 12:17 AM)
If you don't feel like completing 4.10% requirements for OCBC, AND your saving is above RM20,001, you should consider UOB eAccount:
1. for RM20,001 - RM50,000 you get 3.13% interest
2. for RM50,001+ you get 3.60% interest

Giro or Insta will do, to any bank excluding OCBC bank.
*
Nope..far from reaching 20k..😅
paogeh
post Apr 29 2018, 08:40 PM

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just get to know this ocbc360 ,
and planning to get one .....

from the pdf ,
IBG/instant transfer , got charges ???

so, this still good ?
or other bank are better ?thank you
Ramjade
post Apr 29 2018, 09:23 PM

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QUOTE(paogeh @ Apr 29 2018, 08:40 PM)
just get to know this ocbc360 ,
and planning to get one .....

from the pdf ,
IBG/instant transfer , got charges ???

so, this still good ?
or other bank are better ?thank you
*
Ignore ocbc and go straight for Phillip money market. Don't need headache yourself with the terms and conditions. Ocbc cards are useless to spend RM500 on them. Effectively lowering your interest rate to only 2.9%p.a vs Phillip money market of ~3.5x%p.a
paogeh
post Apr 29 2018, 10:22 PM

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QUOTE(Ramjade @ Apr 29 2018, 09:23 PM)
Ignore ocbc and go straight for Phillip money market. Don't need headache yourself with the terms and conditions. Ocbc cards are useless to spend RM500 on them.  Effectively lowering your interest rate to only 2.9%p.a vs Phillip money  market of ~3.5x%p.a
*
Phillip money marke ????
this is fund , but we are discussing bank acc that give 4.1% return ......

sorry , i'm a bit lost here .....
could u help me to understand ?

thank you very much Ramjade
Ramjade
post Apr 29 2018, 10:54 PM

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QUOTE(paogeh @ Apr 29 2018, 10:22 PM)
Phillip money marke ????
this is fund  , but we are discussing bank acc that give 4.1% return ......

sorry , i'm a bit lost here .....
could u help me to understand ?

thank you very much Ramjade
*
Why should you bother whether it's bank account or something which behaves like a bank account.

Did you read the condition to get 4.1%?
- bank in salary - no problem
- pay bills - easy just as someone said transfer RM1x3 into another bank accoubt
- spend RM500 using ocbc card - not worth it as ocbc card is one of the lousiest card = you get practically 0% cash back (if you count 1% Cashback as something doh.gif)
So you are only get getting 2.9% (0.5+1.2+1.2)p.a
For every RM1k I put into ocbc I only will get RM29 after 1 year
What happen if I fulfilled the criteria?
RM1k will give you RM41 a year. For every RM500 spend /month, you only get RM60/year (RM5x12)
Total profit after 1 year = RM109

Now compare that with Phillip money market fund + say maybank amex gold
3.5x%p.a + 5% cash back on all transactions on weekends.
For every day RM1k you put into Phillip, that will give you RM35/year (let's put return at 3.5%). RM500 spend/month with maybank amex on weekends will give you RM300/year (RM25x12)

Total profit after 1 year = RM335.

Doesn't that looks like a better deal to you?

What about liquidity?
With Phillip money market fund, money is available on same day you uplift (sell) if you use maybank. Not sure the duration for it to enter your bank account (how many hours). So why can't you wait for few hours?

This post has been edited by Ramjade: Apr 29 2018, 11:03 PM
paogeh
post Apr 29 2018, 11:00 PM

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QUOTE(Ramjade @ Apr 29 2018, 10:54 PM)
Why should you bother whether it's bank account or something which behaves like a bank account.

Did you read the condition to get 4.1%?
- bank in salary - no problem
- pay bills -  easy just as someone said transfer RM1x3 into another bank accoubt
- spend RM500 using ocbc card -  not worth it as ocbc card is one of the lousiest card = you get practically 0% cash back (if you count 1% Cashback as something doh.gif)
So you are only get getting 2.9% (0.5+1.2+1.2)p.a

Now compare that with Phillip money market fund + say maybank amex gold
3.5x%p.a + 5% cash back on all transactions on weekends.
Doesn't that looks like a better deal to you?

What about liquidity?
With Phillip money market fund,  money is available on same day you uplift (sell) if you use maybank. Not sure the duration for it to enter your bank account (how many hours). So why can't you wait for few hours?
*
philip eunittrust can buy with Maybank AMEX credit card ?
really ?!?!?!?!?



Ramjade
post Apr 29 2018, 11:01 PM

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QUOTE(paogeh @ Apr 29 2018, 11:00 PM)
philip eunittrust can buy with Maybank AMEX credit card ?
really ?!?!?!?!?
*
See my edited reply with calculations eg.

This post has been edited by Ramjade: Apr 29 2018, 11:02 PM
paogeh
post Apr 29 2018, 11:05 PM

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QUOTE(Ramjade @ Apr 29 2018, 11:01 PM)
See my edited reply with calculations eg.
*
thanks Ramjade,

can i use AMEX to buy philip , get the 5% on weekend
and later sell off ?
got lock in period for philip ?



Ramjade
post Apr 29 2018, 11:07 PM

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QUOTE(paogeh @ Apr 29 2018, 11:05 PM)
thanks Ramjade,

can i use AMEX to buy philip , get the 5% on weekend
and later sell off ?
got lock in period for philip ?
*
Of course not. Use amex instead of using ocbc card la. doh.gif doh.gif As mentioned ocbc cards are one of the worst cards to use in Malaysia.

This post has been edited by Ramjade: Apr 29 2018, 11:09 PM
paogeh
post Apr 29 2018, 11:11 PM

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QUOTE(Ramjade @ Apr 29 2018, 11:07 PM)
Of course not. Use amex instead of using ocbc card la. doh.gif doh.gif As mentioned ocbc cards are one of the worst cards to use in Malaysia.
*
????
i though u mentioned can use AMEX to pay ?

in M2U , i can;t find payee =Philip ???


AMEX rebate 5% only RM1K == RM50 CB ...... so max also RM1K .....



Ramjade
post Apr 29 2018, 11:20 PM

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QUOTE(paogeh @ Apr 29 2018, 11:11 PM)
????
i though u mentioned can use AMEX to pay ?

in M2U , i can;t find payee =Philip ???
AMEX rebate 5% only RM1K == RM50 CB ...... so max also RM1K .....
*
Use amex instead of ocbc cards. Read my example carefully. I didn't say buy using amex. I said "Now compare that with Phillip money market fund + say maybank amex gold"

So? 5% is better than pathetic ocbc 1%. Use other card to supplement amex gold la doh.gif. Your groceries and petrol can be taken care by ikhwan gold with 5% cashback also.
Groceries + petrol up to RM1k settle by ikhwan gold
Others up to RM1k settle with amex
That's already RM2k worth of transaction in a month

You use FPX to pay. Of course you can't find Payee. Cause it's not a company which bills you stuff. doh.gif Register for an account over at eunittrust

This post has been edited by Ramjade: Apr 29 2018, 11:21 PM
kyle_kl
post Apr 30 2018, 09:21 AM

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QUOTE(paogeh @ Apr 29 2018, 08:40 PM)
just get to know this ocbc360 ,
and planning to get one .....

from the pdf ,
IBG/instant transfer , got charges ???

so, this still good ?
or other bank are better ?thank you
*
I am using it and constantly earn 4.1% pa interest on saving.
I would say it is very good if you can meet all requirements for the higher interest.

Normal charges 0.11 and 0.53 for IBG and Instant transfer.
Ramjade
post Apr 30 2018, 11:43 AM

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QUOTE(kyle_kl @ Apr 30 2018, 09:21 AM)
I am using it and constantly earn 4.1% pa interest on saving.
I would say it is very good if you can meet all requirements for the higher interest.

Normal charges 0.11 and 0.53 for IBG and Instant transfer.
*
See my reply below. Mathematics don't lie.

QUOTE(Ramjade @ Apr 29 2018, 10:54 PM)
Why should you bother whether it's bank account or something which behaves like a bank account.

Did you read the condition to get 4.1%?
- bank in salary - no problem
- pay bills -  easy just as someone said transfer RM1x3 into another bank accoubt
- spend RM500 using ocbc card -  not worth it as ocbc card is one of the lousiest card = you get practically 0% cash back (if you count 1% Cashback as something doh.gif)
So you are only get getting 2.9% (0.5+1.2+1.2)p.a
For every RM1k I put into ocbc I only will get RM29 after 1 year
What happen if I fulfilled the criteria?
RM1k will give you RM41 a year. For every RM500 spend /month,  you only get RM60/year (RM5x12)
Total  profit after 1 year = RM109

Now compare that with Phillip money market fund + say maybank amex gold
3.5x%p.a + 5% cash back on all transactions on weekends.
For every day RM1k you put into Phillip,  that will give you RM35/year (let's put return at 3.5%). RM500 spend/month with maybank amex on weekends will give you RM300/year (RM25x12)

Total profit after 1 year = RM335.

Doesn't that looks like a better deal to you?

What about liquidity?
With Phillip money market fund,  money is available on same day you uplift (sell) if you use maybank. Not sure the duration for it to enter your bank account (how many hours). So why can't you wait for few hours?
*
This post has been edited by Ramjade: Apr 30 2018, 11:44 AM
Nom-el
post Apr 30 2018, 12:36 PM

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QUOTE(kyle_kl @ Apr 30 2018, 09:21 AM)
I am using it and constantly earn 4.1% pa interest on saving.
I would say it is very good if you can meet all requirements for the higher interest.

Normal charges 0.11 and 0.53 for IBG and Instant transfer.
*
Currently, OCBC has free IBFT promotion.


QUOTE(Ramjade @ Apr 29 2018, 10:54 PM)
Why should you bother whether it's bank account or something which behaves like a bank account.

Did you read the condition to get 4.1%?
- bank in salary - no problem
- pay bills -  easy just as someone said transfer RM1x3 into another bank accoubt
- spend RM500 using ocbc card -  not worth it as ocbc card is one of the lousiest card = you get practically 0% cash back (if you count 1% Cashback as something doh.gif)
So you are only get getting 2.9% (0.5+1.2+1.2)p.a
For every RM1k I put into ocbc I only will get RM29 after 1 year
What happen if I fulfilled the criteria?
RM1k will give you RM41 a year. For every RM500 spend /month,  you only get RM60/year (RM5x12)
Total  profit after 1 year = RM109

Now compare that with Phillip money market fund + say maybank amex gold
3.5x%p.a + 5% cash back on all transactions on weekends.
For every day RM1k you put into Phillip,  that will give you RM35/year (let's put return at 3.5%). RM500 spend/month with maybank amex on weekends will give you RM300/year (RM25x12)

Total profit after 1 year = RM335.

Doesn't that looks like a better deal to you?

What about liquidity?
With Phillip money market fund,  money is available on same day you uplift (sell) if you use maybank. Not sure the duration for it to enter your bank account (how many hours). So why can't you wait for few hours?
*
It matters because there are a few differences between a savings account and money market fund: -
i) There is instant liquidity for savings account while money market fund can only be liquidated on a working day before a specific cut-off time to get the money. Fastest is also a few hours time
ii) The principal is guaranteed in savings account and comes with PIDM protection while this is not true for money market fund
iii) The interest rate is guaranteed for savings account which is not the same for money market fund


Your calculation is correct only if you have RM1k in your account. If you have more, then it might be worth it even if you lose on the cashback for the credit card.

RM100k will give you RM4.1k a year. For every RM500 spend /month, you get RM60/year (RM5x12)
Total profit after 1 year = RM4,160 (GUARANTEED)

Phillip money market fund + maybank amex gold
3.5% p.a + 5% cash back
RM100k will give you RM3.5k/year. RM500 spend/month with maybank amex on weekends will give you RM300/year (RM25x12)

Total profit after 1 year = RM3,800 (NOT GUARANTEED)

This is assuming one has the MBB Amex card and has not reached the cap already. Not everyone is eligible for a credit card and not everyone has an MBB card.

This post has been edited by Nom-el: Apr 30 2018, 12:37 PM
Ramjade
post Apr 30 2018, 01:10 PM

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QUOTE(Nom-el @ Apr 30 2018, 12:36 PM)
Currently, OCBC has free IBFT promotion.
It matters because there are a few differences between a savings account and money market fund: -
i) There is instant liquidity for savings account while money market fund can only be liquidated on a working day before a specific cut-off time to get the money. Fastest is also a few hours time
ii) The principal is guaranteed in savings account and comes with PIDM protection while this is not true for money market fund
iii) The interest rate is guaranteed for savings account which is not the same for money market fund
Your calculation is correct only if you have RM1k in your account. If you have more, then it might be worth it even if you lose on the cashback for the credit card.

RM100k will give you RM4.1k a year. For every RM500 spend /month, you get RM60/year (RM5x12)
Total  profit after 1 year = RM4,160 (GUARANTEED)

Phillip money market fund + maybank amex gold
3.5% p.a + 5% cash back
RM100k will give you RM3.5k/year. RM500 spend/month with maybank amex on weekends will give you RM300/year (RM25x12)

Total profit after 1 year = RM3,800 (NOT GUARANTEED)

This is assuming one has the MBB Amex card and has not reached the cap already. Not everyone is eligible for a credit card and not everyone has an MBB card.
*
Let's go though your one point at time. biggrin.gif
1) you don't need instant liquidity when credit cards can have credit limit of RM10K. More than sufficient for any emergency situation. And you have about 20 days to come out with the money.
2) PIDM protection is not relevant. Why? PIDM doesn't have the cash to support payout also if a bank should be declare bankrupt. People here already did a calculation. The money market fund invest in FDs.
3) You don't need a guaranteed rate but a rate which is higher than the guaranteed rate biggrin.gif

One should not hold RM100-200k cash inside the bank. But this part is true. Is only relevant if your amount is big. Can should do a step ladder FD where the amount is divided equally into several FDs place every few months. Question is how many regular Malaysians got so huge cash sitting in the bank?

That's why I said supplement with other cards. Not every one can own maybank amex? Annual salary only require RM36k which is reachable by many Malaysians.

This post has been edited by Ramjade: Apr 30 2018, 01:13 PM
kyle_kl
post Apr 30 2018, 01:47 PM

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QUOTE(Ramjade @ Apr 30 2018, 11:43 AM)
See my reply below. Mathematics don't lie.
*
You cannot compare saving account to a fund.
Saving account is simple compare to a fund.
Saving account has lower risk compare to a fund.
Saving account allow you withdrawn money any time.

If your saving has >30k, OCBC card earn more monthly cash back than Maybank 2 Amex card.
For 30k saving, you earn RM30 (1.2%pa) + RM5 (1% CC cash back of RM500 spend) = RM35, while Amex give you RM25 (5% CC cash back of RM500 spend)+ RM6.25 (5X Treat Point equivalent to 1.25%) = RM31.25

Ramjade
post Apr 30 2018, 02:12 PM

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QUOTE(kyle_kl @ Apr 30 2018, 01:47 PM)
You cannot compare saving account to a fund.
Saving account is simple compare to a fund.
Saving account has lower risk compare to a fund.
Saving account allow you withdrawn money any time.

If your saving has >30k, OCBC card earn more monthly cash back than Maybank 2 Amex card.
For 30k saving, you earn RM30 (1.2%pa) + RM5 (1% CC cash back of RM500 spend) = RM35, while Amex give you RM25 (5% CC cash back of RM500 spend)+ RM6.25 (5X Treat Point equivalent to 1.25%) = RM31.25
*
Doesn't matter name is savings account or something else. The goal is best deal for your money with good liquidity.
Never have the mindset that money must only be kept in savings account. Use to have that thinking until someone corrected me. And what that person said is true.
Savings account in one bank vs fund which invest in various FD in various bank, I think the risk is smaller with money market fund. Is not a normal unit trust which invest in stock. Is a unit trust which invest in FD. doh.gif
Yes that's true. You can withdraw anytime but what is few hours of waiting? You still can get money on the same day except if it's public holiday.

Let's do a proper calculation
With ocbc 360 fulfilled all criteria
Rm30k with 4.1%p.a will give you RM1230/year
CB by spending RM500/month with OCBC card earning 1% CB
RM5x12 = RM60
Total = RM1290

With OCBC 360 not fulfilling the spending part
RM30k with 2.9%p.a = RM890/year
CB by spending RM500/month with amex gold and earning 5% CB
RM25 x12 = RM300
Total = RM1190

With Phillip money market fund at 3.5%p.a
RM30k at 3.5%p.a = RM1050
CB by spending RM500/month with amex gold and earning 5% CB
RM25 x12 = RM300
Total = RM1350

This post has been edited by Ramjade: Apr 30 2018, 03:02 PM
Nom-el
post May 1 2018, 02:51 PM

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QUOTE(Ramjade @ Apr 30 2018, 01:10 PM)
Let's go though your one point at time. biggrin.gif
1) you don't need instant liquidity when credit cards can have credit limit of RM10K.  More than sufficient for any emergency situation. And you have about 20 days to come out with the money.
2) PIDM protection is not relevant. Why? PIDM doesn't have the cash to support payout also if a bank should be declare bankrupt. People here already did a calculation. The money market fund invest in FDs.
3) You don't need a guaranteed rate but a rate which is higher than the guaranteed rate biggrin.gif

One should not hold RM100-200k cash inside the bank. But this part is true. Is only relevant if your amount is big. Can should do a step  ladder FD where the amount is divided equally into several FDs place every few months. Question is how many regular Malaysians got so huge cash sitting in the bank?

That's why I said supplement with other cards. Not every one can own maybank amex? Annual salary only require RM36k which is reachable by many Malaysians.
*
1) There are still many places that do not accept credit cards in Malaysia and you cannot choose to only go to those places that do in times of emergency. There are also times when the card machine is not working.

2) Nobody knows for sure how PIDM works in practice as there is no precedent on this. Those calculations are mere speculation on how things are supposed to work. Even if there is not enough to cover all deposit holders, some protection is still better than none at all.

3) Since the rate is not guaranteed, how can you be sure it will always be higher than the guaranteed rate? Simply based on the historical rate alone? Remember, past performance is not an indicator of future performance in any kind of investment.

There are various valid reasons for people to have a large sum of money in their bank accounts whether on a temporary or permanent basis.

Just because someone meets the minimum requirement for applying a credit card does not mean it would be approved. There are many cases reported in this forum alone about people getting rejected despite exceeding the requirements.



QUOTE(Ramjade @ Apr 30 2018, 02:12 PM)
Doesn't matter name is savings account or something else. The goal is best deal for your money with good liquidity.
Never have the mindset that money must only be kept in savings account. Use to have that thinking until someone corrected me. And what that person said is true.
Savings account in one bank vs fund which invest in various  FD in various bank, I think the risk is smaller with money market fund. Is not a normal unit trust which invest in stock. Is a unit trust which invest in FD. doh.gif
Yes that's true. You can withdraw anytime but what is few hours of waiting? You still can get money on the same day except if it's public holiday.

Let's do a proper calculation
With ocbc 360 fulfilled all criteria
Rm30k with 4.1%p.a will give you RM1230/year
CB by spending RM500/month with OCBC card earning 1% CB
RM5x12 = RM60
Total = RM1290

With OCBC 360 not fulfilling the spending part
RM30k with 2.9%p.a = RM890/year
CB by spending RM500/month with amex gold and earning 5% CB
RM25 x12 = RM300
Total = RM1190

With Phillip money market fund at 3.5%p.a
RM30k at 3.5%p.a = RM1050
CB by spending RM500/month with amex gold and earning 5% CB
RM25 x12 = RM300
Total = RM1350
*
It matters because they are different things altogether. Just because you can put your money into them for similar purposes, does not mean they are the same. They have different risk and liquidity characteristics. You can put any amount into a savings account but there is a minimum for initial & subsequent amount for money market fund.

You cannot withdraw anytime you like. It can be done during office hours only before cut off time to get the money on the same day. Late 1 minute and the money will only be available on the next working day. If withdrawal is done on a Friday at 11:00 am for e.g., the money will only be available on the next Monday assuming there is no public holiday in between.
deity01
post May 1 2018, 04:52 PM

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QUOTE(Nom-el @ May 1 2018, 02:51 PM)
1) There are still many places that do not accept credit cards in Malaysia and you cannot choose to only go to those places that do in times of emergency. There are also times when the card machine is not working.

2) Nobody knows for sure how PIDM works in practice as there is no precedent on this. Those calculations are mere speculation on how things are supposed to work. Even if there is not enough to cover all deposit holders, some protection is still better than none at all. 

3) Since the rate is not guaranteed, how can you be sure it will always be higher than the guaranteed rate? Simply based on the historical rate alone? Remember, past performance is not an indicator of future performance in any kind of investment.

There are various valid reasons for people to have a large sum of money in their bank accounts whether on a temporary or permanent basis.

Just because someone meets the minimum requirement for applying a credit card does not mean it would be approved. There are many cases reported in this forum alone about people getting rejected despite exceeding the requirements.
It matters because they are different things altogether. Just because you can put your money into them for similar purposes, does not mean they are the same. They have different risk and liquidity characteristics. You can put any amount into a savings account but there is a minimum for initial & subsequent amount for money market fund.

You cannot withdraw anytime you like. It can be done during office hours only before cut off time to get the money on the same day. Late 1 minute and the money will only be available on the next working day. If withdrawal is done on a Friday at 11:00 am for e.g., the money will only be available on the next Monday assuming there is no public holiday in between.
*
haha..this person is forever anti OCBC360..you not tired of arguing with this guy?

Different instruments suits different ppl, if the options is only down to these 2, the best is to use both to full potential, otherwise choose to use the best instrument that suits you..

I am still a happy OCBC360 user..with every month hitting 4.1%..and hitting max cashback of M2C Amex thumbsup.gif

This post has been edited by deity01: May 1 2018, 05:02 PM
Ramjade
post May 1 2018, 11:04 PM

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QUOTE(deity01 @ May 1 2018, 04:52 PM)
haha..this person is forever anti OCBC360..you not tired of arguing with this guy?

Different instruments suits different ppl, if the options is only down to these 2, the best is to use both to full potential, otherwise choose to use the best instrument that suits you..

I am still a happy OCBC360 user..with every month hitting 4.1%..and hitting max cashback of M2C Amex :thumbsup:
*
I believe in getting the best deal for your money. Anything less, is unacceptable. So I am doing my part to correct any wrong perception.
deity01
post May 2 2018, 10:26 AM

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QUOTE(Ramjade @ May 1 2018, 11:04 PM)
I believe in getting the best deal for your money. Anything less,  is unacceptable. So I am doing my part to correct any wrong perception.
*
yes..u are always forever correct from your perspective...keep it up..

This post has been edited by deity01: May 2 2018, 10:27 AM
Ramjade
post May 2 2018, 10:39 AM

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QUOTE(deity01 @ May 2 2018, 10:26 AM)
yes..u are always forever correct from your perspective...keep it up..
*
You are welcome to give free money to banks. I am not giving free money to banks. If more people act like me, banks will be force to up their interest and we all benefit.
paogeh
post May 17 2018, 11:02 PM

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The 3 transaction per month,


Pay bill --- Must go through JomPay ?
IBG/instant transfer considered ?


Since i failed to get the credit card .
I need to spend through debit card .....
Just swipe RM500 would do , rigfht ?

thank you



ProxMatoR
post May 18 2018, 02:48 PM

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QUOTE(paogeh @ May 17 2018, 11:02 PM)
The 3 transaction per month,
Pay bill  --- Must go through JomPay ?
IBG/instant transfer considered ? 
Since i failed to get the credit card .
I need to spend through debit card .....
Just swipe RM500 would do , rigfht ?

thank you
*
no, it is bill payment, not jompay nor IBG/IT. there is a list of billers that you can choose of.

is using debit card spending 500 to earn 1.2% has more earning than using your cash back credit card?


vrek
post May 18 2018, 04:32 PM

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QUOTE(ProxMatoR @ May 18 2018, 02:48 PM)
is using debit card spending 500 to earn 1.2% has more earning than using your cash back credit card?
*
Using credit card RM500, let's say 5% cashback = RM25.
But if the person has RM80,000, the 1.2% = RM80


ProxMatoR
post May 18 2018, 08:08 PM

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QUOTE(vrek @ May 18 2018, 04:32 PM)
Using credit card RM500, let's say 5% cashback = RM25.
But if the person has RM80,000, the 1.2% = RM80
*
yeah, that's right. but with that amount, there are chances that person will put it into FD for better rate?

that's why i'm asking if that's higher return thumbup.gif

This post has been edited by ProxMatoR: May 18 2018, 08:09 PM
47100
post Jul 5 2018, 01:55 PM

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hi, does online fpx contribute to the rm500 spending criteria? thanks
shuin1986
post Jul 5 2018, 03:14 PM

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QUOTE(paogeh @ May 17 2018, 11:02 PM)
The 3 transaction per month,
Pay bill  --- Must go through JomPay ?
IBG/instant transfer considered ? 
Since i failed to get the credit card .
I need to spend through debit card .....
Just swipe RM500 would do , rigfht ?

thank you
*
1.2% = Deposit RM500 into account
1.2% = JomPay, IBG & Instant Transfer, if use transfer... to any bank will do, except OCBC
1.2% = Use RM500 on CC/DC, online purchase... retail purchase... pay wave... as long as u use the card (if u have other cashback CC and finds that this criteria not worth fulfilling, then you can look at UOB eAccount, provided you can reach certain amount of saving)
paogeh
post Jul 5 2018, 04:05 PM

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QUOTE(shuin1986 @ Jul 5 2018, 03:14 PM)
1.2% = Deposit RM500 into account
1.2% = JomPay, IBG & Instant Transfer, if use transfer... to any bank will do, except OCBC
1.2% = Use RM500 on CC/DC, online purchase... retail purchase... pay wave... as long as u use the card (if u have other cashback CC and finds that this criteria not worth fulfilling, then you can look at UOB eAccount, provided you can reach certain amount of saving)
*
Thank you .....been doing those 3 criteas ....

ryan18
post Jul 6 2018, 10:34 AM

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QUOTE(shuin1986 @ Jul 5 2018, 03:14 PM)
1.2% = Deposit RM500 into account
1.2% = JomPay, IBG & Instant Transfer, if use transfer... to any bank will do, except OCBC
1.2% = Use RM500 on CC/DC, online purchase... retail purchase... pay wave... as long as u use the card (if u have other cashback CC and finds that this criteria not worth fulfilling, then you can look at UOB eAccount, provided you can reach certain amount of saving)
*
Usually hit only 2.2.9% is not bad haha
deity01
post Jul 6 2018, 03:58 PM

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QUOTE(47100 @ Jul 5 2018, 01:55 PM)
hi, does online fpx contribute to the rm500 spending criteria? thanks
*
no
shuin1986
post Jul 7 2018, 11:03 AM

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QUOTE(ryan18 @ Jul 6 2018, 10:34 AM)
Usually hit only 2.2.9% is not bad haha
*
2.90% is fine but you can get better deal, if your saving is above RM20k, it is better to get an UOB eAccount:
- 20k-50k you get 3.13% interest
- above 50k you get 3.60% interest
without the need to fulfill any criteria
ryan18
post Jul 7 2018, 07:57 PM

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QUOTE(shuin1986 @ Jul 7 2018, 11:03 AM)
2.90% is fine but you can get better deal, if your saving is above RM20k, it is better to get an UOB eAccount:
- 20k-50k you get 3.13% interest
- above 50k you get 3.60% interest
without the need to fulfill any criteria
*
Haha I don’t have such a huge savings balance so ocbc 360 is my best option
Rather put the excess cash in stocks lol
Ryaness
post Jul 16 2018, 04:46 AM

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May I ask if I did 3 ibg to my own bank account in different bank, is it considered fulfil the playbill criteria? And how much is the ibg fee now?
ProxMatoR
post Jul 16 2018, 10:50 AM

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QUOTE(Ryaness @ Jul 16 2018, 04:46 AM)
May I ask if I did 3 ibg to my own bank account in different bank, is it considered fulfil the playbill criteria? And how much is the ibg fee now?
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pay bill and IBG is different category. so, nope, its not considered...
Nom-el
post Jul 16 2018, 11:00 AM

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QUOTE(ProxMatoR @ May 18 2018, 02:48 PM)
no, it is bill payment, not jompay nor IBG/IT. there is a list of billers that you can choose of.

is using debit card spending 500 to earn 1.2% has more earning than using your cash back credit card?
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QUOTE(ProxMatoR @ Jul 16 2018, 10:50 AM)
pay bill and IBG is different category. so, nope, its not considered...
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Bill payment, Jompay, IBG & IBFT are all in the same category for OCBC 360 Bill Payment category.


QUOTE(Ryaness @ Jul 16 2018, 04:46 AM)
May I ask if I did 3 ibg to my own bank account in different bank, is it considered fulfil the playbill criteria? And how much is the ibg fee now?
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Yes, definitely. I am not sure if IBG is free or not currently, it is usually RM0.10. IBFT is free though.
perplexedstill
post Jul 26 2018, 10:22 PM

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Hi, i still confuse about this. Let's say if i only done deposit RM500, pay 3 bills and spend RM500 on 25th that month, mean i only get 4.1% interests for 5/6 days? (25th - 30/31th)
ProxMatoR
post Jul 27 2018, 09:29 PM

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QUOTE(perplexedstill @ Jul 26 2018, 10:22 PM)
Hi, i still confuse about this. Let's say if i only done deposit RM500, pay 3 bills and spend RM500 on 25th that month, mean i only get 4.1% interests for 5/6 days? (25th - 30/31th)
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nope, it is for whole month. wink.gif

btw, the interest is calculated based on averaged daily balance, not daily count

This post has been edited by ProxMatoR: Jul 27 2018, 09:30 PM
DRBS
post Jul 28 2018, 09:20 AM

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Can I use the ocbc credit card to pay for insurance premiums? Insurance generally not entitled for cash back, but I don't see that clause for ocbc credit cards.

If so, then spending rm500 per month can be reached
perplexedstill
post Jul 28 2018, 10:21 AM

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QUOTE(ProxMatoR @ Jul 27 2018, 09:29 PM)
nope, it is for whole month. wink.gif

btw, the interest is calculated based on averaged daily balance, not daily count
*
Good to know that. Thanks.
shuin1986
post Jul 29 2018, 09:00 AM

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QUOTE(perplexedstill @ Jul 26 2018, 10:22 PM)
Hi, i still confuse about this. Let's say if i only done deposit RM500, pay 3 bills and spend RM500 on 25th that month, mean i only get 4.1% interests for 5/6 days? (25th - 30/31th)
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better don't fulfill criteria near end of month, it takes time to reflect the transaction into your account, may get into the following month lol
archcherub
post Jul 30 2018, 12:54 PM

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QUOTE(shuin1986 @ Jul 7 2018, 11:03 AM)
2.90% is fine but you can get better deal, if your saving is above RM20k, it is better to get an UOB eAccount:
- 20k-50k you get 3.13% interest
- above 50k you get 3.60% interest
without the need to fulfill any criteria
*
yah UOB is good if u prefer use internet.

3.13% is good. trying to hit 3.6% now
Ramjade
post Jul 30 2018, 01:54 PM

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QUOTE(archcherub @ Jul 30 2018, 12:54 PM)
yah UOB is good if u prefer use internet.

3.13% is good. trying to hit 3.6% now
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No need to work so hard. Just put into Phillip money market fund easily hit 3.6x%. Simple and effective.
Ryaness
post Jul 31 2018, 02:38 AM

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Am I able to open a 360 i account if I am not muslim? The only available branch of ocbc in my place is Al Amin which I assume only provide 360 i instead of conventional 360.
shuin1986
post Jul 31 2018, 03:44 PM

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QUOTE(Ryaness @ Jul 31 2018, 02:38 AM)
Am I able to open a 360 i account if I am not muslim? The only available branch of ocbc in my place is Al Amin which I assume only provide 360 i instead of conventional 360.
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The OCBC i went to was Al Amin, can open conventional 360, can apply credit card too
Sumofwhich
post Aug 2 2018, 11:00 AM

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Deleted

This post has been edited by Sumofwhich: Aug 4 2018, 10:51 AM
kimi28laren
post Aug 3 2018, 11:48 AM

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QUOTE(shuin1986 @ Jul 5 2018, 03:14 PM)
1.2% = Deposit RM500 into account
1.2% = JomPay, IBG & Instant Transfer, if use transfer... to any bank will do, except OCBC
1.2% = Use RM500 on CC/DC, online purchase... retail purchase... pay wave... as long as u use the card (if u have other cashback CC and finds that this criteria not worth fulfilling, then you can look at UOB eAccount, provided you can reach certain amount of saving)
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In addition to bill payment criteria (statement #2), payment for OCBC credit card using OCBC 360 consider as 1 transaction.

In case you cannot make 3 bill transactions for the month, you can split one of the bills into 2 transactions.
ProxMatoR
post Aug 4 2018, 11:19 AM

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QUOTE(kimi28laren @ Aug 3 2018, 11:48 AM)
In addition to bill payment criteria (statement #2), payment for OCBC credit card using OCBC 360 consider as 1 transaction.

In case you cannot make 3 bill transactions for the month, you can split one of the bills into 2 transactions.
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iirc, same bill with multiple transaction still considered 1 hmm.gif
kimi28laren
post Aug 5 2018, 09:42 PM

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QUOTE(ProxMatoR @ Aug 4 2018, 11:19 AM)
iirc, same bill with multiple transaction still considered 1 hmm.gif
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Actually done 2 transactions on CC payment to make total 3 transactions. Still got the 1.2%. But that was quite some time ago.
ProxMatoR
post Aug 6 2018, 10:52 AM

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QUOTE(kimi28laren @ Aug 5 2018, 09:42 PM)
Actually done 2 transactions on CC payment to make total 3 transactions. Still got the 1.2%. But that was quite some time ago.
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this is interesting... haha, just checked with the T&C:

Multiple payments within the calendar month bearing the same reference will be deemed as one Bill Payment. For example:
(i) multiple payments to the same OCBC home loan facility account; or
(ii) multiple payments to the same participating billing organisation, unless each payment is uniquely identified to a different account; or
(iii) multiple payments to the same account with any bank or financing institution.
OCBC Bank’s decisions as to whether any 2 or more payments shall collectively be deemed as one Bill Payment shall be final, conclusive and binding on all parties concerned.

maybe they updated new T&C after spotted many people did same as you haha

or maybe because your 2 transactions are pretty far apart? so the keyword "whether" kicked in... hahaha
kimi28laren
post Aug 6 2018, 09:44 PM

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QUOTE(ProxMatoR @ Aug 6 2018, 10:52 AM)
this is interesting... haha, just checked with the T&C:

Multiple payments within the calendar month bearing the same reference will be deemed as one Bill Payment. For example:
(i) multiple payments to the same OCBC home loan facility account; or
(ii) multiple payments to the same participating billing organisation, unless each payment is uniquely identified to a different account; or
(iii) multiple payments to the same account with any bank or financing institution.
OCBC Bank’s decisions as to whether any 2 or more payments shall collectively be deemed as one Bill Payment shall be final, conclusive and binding on all parties concerned.

maybe they updated new T&C after spotted many people did same as you haha

or maybe because your 2 transactions are pretty far apart? so the keyword "whether" kicked in... hahaha
*
Probably... Hahaha

Now many options to make bill payment, so i'm not worried already
ProxMatoR
post Aug 7 2018, 12:18 PM

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QUOTE(kimi28laren @ Aug 6 2018, 09:44 PM)
Probably... Hahaha

Now many options to make bill payment, so i'm not worried already
*
haha, closed 1 door, but opened more doors for you rclxms.gif rclxms.gif
Sumofwhich
post Aug 10 2018, 02:45 PM

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OCBC Android app required update, some new features added
David83
post Aug 13 2018, 04:50 PM

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OCBC Bank rolls out savings account with FD-type interest rate

KUALA LUMPUR: With rates similar to that of fixed deposits (FD), OCBC Bank (M) Bhd’s freshly-minted Booster and Premier Booster savings accounts are set to become the new benchmark for flexible high-interest-yielding savings accounts.

OCBC Bank’s Booster account holders can enjoy a 3.25% per annum interest rate by maintaining an average balance of at least RM30,000; there is no cap to the balance. If the balance falls below RM30,000, the usual savings interest rate of 0.25% per annum will apply.

Read more at https://www.thestar.com.my/business/busines...zh75imvBqCEO.99
Ramjade
post Aug 13 2018, 04:55 PM

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QUOTE(David83 @ Aug 13 2018, 04:50 PM)
OCBC Bank rolls out savings account with FD-type interest rate

KUALA LUMPUR: With rates similar to that of fixed deposits (FD), OCBC Bank (M) Bhd’s freshly-minted Booster and Premier Booster savings accounts are set to become the new benchmark for flexible high-interest-yielding savings accounts.

OCBC Bank’s Booster account holders can enjoy a 3.25% per annum interest rate by maintaining an average balance of at least RM30,000; there is no cap to the balance. If the balance falls below RM30,000, the usual savings interest rate of 0.25% per annum will apply. 

Read more at https://www.thestar.com.my/business/busines...zh75imvBqCEO.99
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Still cannot beat Phillip money market fund and do not even need to keep so much with them to enjoy such rate.
verbatin
post Aug 18 2018, 11:22 PM

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can you advise how do i put money into phillip money market fund? what is the returns?

i am from Singapore so not familar with this
is it money market fund from POEMS (Philips securities)?

thanks

QUOTE(Ramjade @ Aug 13 2018, 04:55 PM)
Still cannot beat Phillip money market fund and do not even need to keep so much  with them to enjoy such rate.
*
Ramjade
post Aug 18 2018, 11:29 PM

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QUOTE(verbatin @ Aug 18 2018, 11:22 PM)
can you advise how do i put money into phillip money market fund? what is the returns?

i am from Singapore so not familar with this
is it money market fund from POEMS (Philips securities)?

thanks
*
If you are from SG, best place to keep money is Citibank maxi gain. Condition is don't withdraw money and you will be able to reach the max level (very easy to achieve if you don't withdraw money).

This Phillip money market fund is for people who want to keep short term RM.

POEMS in SG is only good for buying UT. Nothing more. Other stuff is practically useless.

This post has been edited by Ramjade: Aug 18 2018, 11:30 PM
verbatin
post Aug 18 2018, 11:35 PM

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Yes I am from Singapore but hold quite bit of ringgit at M'sian Bank so i am trying to find the best place to keep my ringgit for short term returns
u mention philip money market fund is better than OCBC booster accounts. how do i place money with philip money market fund? and what is their returns?

thanks

QUOTE(Ramjade @ Aug 18 2018, 11:29 PM)
If you are from SG, best place to keep money is Citibank maxi gain. Condition is don't withdraw money and you will be able to reach the max level (very easy to achieve if you don't withdraw money).

This Phillip money market fund is for people who want to keep short term RM.

POEMS in SG is only good for buying UT. Nothing more. Other stuff is practically useless.
*
This post has been edited by verbatin: Aug 18 2018, 11:37 PM
Ramjade
post Aug 18 2018, 11:53 PM

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QUOTE(verbatin @ Aug 18 2018, 11:35 PM)
Yes I am from Singapore but hold quite bit of ringgit at M'sian Bank so i am trying to find the best place to keep my ringgit for short term returns
u mention philip money market fund is better than OCBC booster accounts. how do i place money with philip money market fund? and what is their returns?

thanks
*
Forget about keeping money in Malaysia. Keep your money in SG as SG govt is making their currency gradually appreciate against all currencies.

Of course is better. Higher rates at 3.69%p.a vs ocbc of 3.25%p.a without any charges. Too sweeten the deal no need to maintain RM30k unlike ocbc.
So even RM1k in Phillip market fund will earn you 3.69%p.a unlike RM1k in ocbc booster which only earn you 0.25% as the amount is below RM30k.

How to place?
Open an account with themhttps://www.eunittrust.com.my

What's the return?
3.69% p.a as mentioned on their page (scroll down) and on their fund fact sheet. Rates will change I think on a monthly basis depending on the underlying FD they invest in.

More info can be found at
https://forum.lowyat.net/topic/4268975

Keep in mind don't withdraw fully as they might charge you RM5 (I have never been charged despite withdrawing fully multiple times)

This post has been edited by Ramjade: Aug 19 2018, 05:45 AM
verbatin
post Aug 19 2018, 12:31 AM

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thanks for the reply. Appreciate it. will check out money market fund - MMF is indeed a good place to keep it there for short term as i am not keen to keep all my rinngit in FD. i prefer to keep some in cash so that i can use it to buy stocks when market is down

my late dad left for us some ringgit in a the bank and some share listed at Bursa so i do receive dividend from these stock. that explains why i have ringgit

so to say, i didnt purposely keep my money in ringgit smile.gif




QUOTE(Ramjade @ Aug 18 2018, 11:53 PM)
Forget about keeping money in Malaysia. Keep your money in SG as SG govt is making their currency gradually appreciate against all currencies.

Of course is better. Higher rates at 3.69%p.a vs ocbc of 3.25%p.a without any charges. Too sweeten the deal no need to maintain RM30k unlike ocbc.
So even RM1k in Phillip market fund will earn you 3.69%p.a unlike RM1k in ocbc booster which only earn you 0.25% as the amount is below RM30k.

How to place?
Open an account with themhttps://www.eunittrust.com.my

What's the return?
3.69% p.a as mentioned on their page (scroll down) and on their fund fact sheet. Rates will change I think on a monthly basis depending on the underlying FD they invest in.

More info can be found at
https://forum.lowyat.net/topic/4268975

Keep in mind don't withdraw fully as they might charge you RM50 (I have never been charged despite withdrawing fully multiple times)
*
This post has been edited by verbatin: Aug 19 2018, 12:50 AM