OCBC 360 Savings Account

OCBC came out with a pretty innovative Savings Account which lets you earn an interest rate up to 3.25% per year.
That’s high interest rate for a Savings Account, right ?

Here’s how you can earn up to 3.25% interest

0.10% - Base Interest (based on current Board Rate for Savings)
1.05% - Deposit minimum RM500 per month
1.05% - Pay minimum 3 bills via OCBC 360 Account using OCBC Online Banking portal (includes Standing Instructions for Loan repayment and OCBC Credit Card payment)
1.05% - 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: RM200.00 (starting balance)
10 November: RM500.00 (deposit)
30 November: 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


Scenario B


For both Scenarios, in November 2015, you will be entitled to Bonus Interest of 3.15%. With a base rate of 0.10% total interest earned is 3.25%. 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

OLD Revision as of 28-12-2020: https://www.ocbc.com.my/assets/pdf/Accounts...nt_28122020.pdf

Product Disclosure sheet (.pdf)

Terms And Conditions (.pdf) :
Latest (Sep-2023) | Previous 09 Oct 2017

This post has been edited by ronnie: Nov 6 2023, 03:31 PM

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%.
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

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.

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.

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.

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.

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%? 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


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!

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.

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.

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?

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.

yes i split my cc payment into 3 and it works.

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%

.

This post has been edited by aromachong: Nov 3 2016, 04:13 PM

Fot the same function (cannot withdraw the money) you should look into Ambank Islamic efd. 3.15%p.a min rm1k for 1 month.

.

This post has been edited by aromachong: Nov 3 2016, 04:13 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

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

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 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

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

guess i will stick with amislamic efd thanks for the tips off !

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.

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

Yes, as long as there's rm500 deposited, you don't even need to wait till month end to withdraw.

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

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 + 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 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 ........

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

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%. there's no limit or penalty for withdrawal (after 13th month)

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

great thankss...

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.





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%

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 )

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.

The annual fee can waive? what is the TNC to waive?

OCBC 360 do not have instant fund transfer option?

This post has been edited by deity01: Jun 26 2016, 07:18 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

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

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

if I create saving goal, the money in the saving goal sub account will still hv the same interest as the primary account izzit?

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.

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%?

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

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

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?

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?

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?

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?

who keep 20k in an account? haha..u never know...



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..

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

When banks come up with complicated t&c, and stright put 4.1%, you better do your calculations. And what do you know?

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.


This post has been edited by Ramjade: Sep 23 2016, 01:50 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

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

I know you will say that. 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.


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.


Hey, how about if someone keeps RM20k in his account? No problem.


Let's try with RM20k + CB + interest and see (the complex calculation and see)

Even with RM20k also, still short by RM200+ woh. How?

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. Is OCBC 360 good? No!!!

This post has been edited by Ramjade: Sep 23 2016, 11:31 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.

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.

Also note that OCBC 360 extra interest only applies to the first 50k/100k amount (forgot which one)

1) & 2) I agree. Only useful for those HNWI
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.

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.

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

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..


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

Alright, since you tak puas hati, I give you another photo. An eg where the person don't maximise their cashback.


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.

I rest my case.

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

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...

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. There are so many possible scenarios where the account would be a good choice for the individual.

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?

This post has been edited by AIYH: Oct 3 2016, 05:15 PM

Yes.

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

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?

bump

Don't worry. It won't close. *don't have a ocbc account but experience from other banks with zero amount*

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.

This post has been edited by lil_flank: Oct 15 2016, 01:17 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>

Does OCBC bank provide Debit Card ? As im still using ATM only card at the moment.

There is no debit card from them.

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.

Learn More | Terms and Conditions Apply



This post has been edited by cybpsych: Dec 24 2016, 02:38 PM

Can ocbc able to place time deposit through their online account?

Sg ocbc 360 has revised new t&c
From next month minimum deposit change from 500 to 2000

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.

Hey, does anyone here knows if JomPay counts as Bill Payment?
or is it their billing organisations only ?

problem solved

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)

Did u manage to get the bonus interest by doing 3 transfers to other banks and accounts? (Paying 3 bills criteria)

yup

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

thank you for your prompt reply. 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%

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.

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


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.