Effective from 1 November 2018

We are making changes to the OCBC 360 Account and this update applies to all new and existing customers.

Balance eligible for
bonus interest
From one to two tiers of balances.
Salary Bonus
Increased to up to 1.5% per year
(previously 1.2% per year).
Spend Bonus
Increased to up to 0.6% per year
(previously 0.3% per year).
Step-up Bonus
(NEW)
Up to 0.6% per year.
To qualify, increase your account balance by at least S$500 compared to previous month.
Boost Bonus
(NEW)
1% per year (up to S$1,000,000) on the increase in your account balance from the previous month.
To qualify, increase your account balance compared to previous month.
Payment Bonus
No longer offered.
Wealth Bonus
Up to 1.2% per year.
To qualify, purchase eligible wealth products from OCBC Bank.
Grow
Bonus
Previously known as Save Bonus.

How the OCBC 360 Account works with this update:

Earn bonus interest (% per year) on the first S$70,000 of your account balance.

SALARY

Credit your salary of at least S$2,000 through GIRO.

First S$35,000

1.2%


Next S$35,000

1.5%

SPEND

Spend at least S$500 on OCBC Credit Cards.

First S$35,000

0.3%


Next S$35,000

0.6%

STEP-UP

Increase your account balance by at least S$500 compared to the previous month.

First S$35,000

0.3%


Next S$35,000

0.6%

WEALTH

Insure or invest with OCBC Bank and earn this bonus interest for 12 months.

First S$35,000

0.6%


Next S$35,000

1.2%

SALARY

Credit your salary of at least S$2,000 through GIRO.

SPEND

Spend at least S$500 on OCBC Credit Cards.

STEP-UP

Increase your account balance by at least S$500 compared to previous month.

WEALTH

Insure or invest with OCBC Bank and earn this bonus interest for 12 months.

First S$35,000

1.2%

0.3%

0.3%

0.6%






Next S$35,000

1.5%

0.6%

0.6%

1.2%

GROW

Earn this extra bonus on the first S$70,000 if your account balance is at least S$200,000.

1.0%

Earn bonus interest (% per year) on the increase in your account balance from the previous month:

BOOST

Increase your account balance from the previous month's balance.

Up to S$1,000,000

1.0%

You will earn a base interest of 0.05% per year on your entire account balance.

OCBC 360 Account Interest Calculator

Calculate how much interest you will earn.

Your account's balance this month

S$

Your account's balance last month

S$

Your increase in balance this month

S$

If you have

Credited your salary of at least S$2,000

$XX.XX

Spent at least S$500 on your OCBC Credit Cards

$XX.XX

Purchased an eligible wealth product with us

$XX.XX

Increased your account balance this month by at least S$500

$XX.XX

At least S$200,000 in your account

$XX.XX

Get a boost on your monthly incremental balances up to S$1,000,000

$XX.XX

You will earn a monthly bonus and base interest of

$XX.XX

Disclaimer
The amount is calculated on per month (31 days) basis and is for illustration purposes only.
The calculator is for your convenience only and you have chosen to use it and rely on any results at your own risk. OCBC Bank will not under any circumstances accept responsibility or liability for any losses that may arise from a decision that you may make as a result of using the calculator.

Questions you may have

360 ACCOUNT UPDATE FROM 1 NOVEMBER 2018

We are making the following changes to the OCBC 360 Account. This update applies to all new and existing 360 Account customers and will take effect from 1 November 2018.

What are the changes?

Balance eligible for bonus interest From one to two tiers of balances.
Salary Bonus Increased to up to 1.5% per year
(previously 1.2% per year).
Spend Bonus Increased to up to 0.6% per year
(previously 0.3% per year).
Step-up Bonus
(NEW)
Up to 0.6% per year.
To qualify, increase your account balance by at least S$500 compared to the previous month.
Boost Bonus
(NEW)
1% per year (up to S$1,000,000) on the increase in your account balance from the previous month.
To qualify, increase your account balance compared to the previous month.
Payment Bonus No longer offered.
Wealth Bonus Up to 1.2% per year.
To qualify, purchase eligible wealth products from OCBC Bank.
Grow Bonus Previously known as Save Bonus.

The OCBC 360 Account has rewarded customers for their saving and banking behaviours and it continues to do so.

With this update, customers would be able to earn an effective rate of up to 3.20% per year in interest on the first S$70,000 of their account balance, when they fulfil the Salary, Spend, Step-up and Wealth bonus categories.

Although the payment bonus interest is no longer offered, customers are now rewarded even more when they continue saving, through the introduction of two tiers of balances eligible for bonus interest, as well as when they increase and consolidate their balances through the Step-up, Grow and Boost bonus interest categories.

We also continue to encourage customers to start their wealth planning with OCBC.

GENERAL

1How different is the OCBC 360 Account from other savings or current accounts?

The OCBC 360 Account is a deposit account that pays you bonus interest when you do all or any of these:

  • Credit your salary through GIRO
  • Save and increase your account balance
  • Spend on your OCBC Credit Card
  • Insure or invest with OCBC

The account comes with e-statements and you can choose to have a cheque book.

2How is the interest calculated?

You get 2 types of interest on your account balance every month.

Base interest:
This interest is accrued daily based on your account's day-end balance and you will receive this at the end of the month.

Bonus interest:
For the FIVE types of bonus below, you will earn bonus interest at 2 tiers based on your account balance, up to the first S$70,000:

  1. Earn up to 1.5% per year for crediting your salary of at least S$2,000 through GIRO and/or
  2. Earn up to 0.6% per year for increasing your account's average daily balance by at least S$500 from the previous month and/or
  3. Earn up to 0.6% per year for spending at least S$500 across your OCBC Credit Cards and/or
  4. Earn up to 1.2% per year for 12 consecutive months when you purchase a new eligible insurance and/or investment product from OCBC and/or
  5. Earn 1% per year if your account's average daily balance is at least S$200,000 or more.

For illustration purpose:
Bonus Interest Categories Maximum interest earned per year1
(From 1 Nov 2018)
SALARY S$945
SPEND S$315
STEP-UP (NEW!) S$315
WEALTH S$630
GROW S$700
TOTAL S$2,905

1 The maximum interest earned is computed based on the effective interest rate of the respective bonus interest categories and the bonus interest balance cap.

In addition to the above FIVE bonus interest categories that is earned on the first S$70,000:

You will earn 1% per year on your account's incremental balances between your account's average daily balance in the current month and previous month, capped at S$1,000,000.

Please refer to the online calculator available on this page to find out more.

3How will I know that the bonus interest is credited to my OCBC 360 Account?

Your bonus interest will be reflected in your e-statement, Online Banking and Mobile Banking transaction history as follows

• 360 SALARY BONUS
• 360 CC SPEND BONUS
• 360 STEP UP BONUS
• 360 WEALTH BONUS
• 360 GROW BONUS
• 360 BOOST BONUS

If you close your account before the bonus interest crediting date, the bonus interest for the previous month will be forfeited.

4Can I open more than one OCBC 360 Account?

Each customer is only allowed to open ONE OCBC 360 Account where he/she is the Primary Account holder. The signing mandate can be either signed singly or joint alternate.

5Can I use the money in my OCBC 360 Account?

Yes you can. There is no lock-in period for this account. You can withdraw money with a debit card and/or access your money through OCBC Online Banking.

SALARY BONUS

1How do I qualify for the salary credit bonus interest?

You need to credit a minimum salary of S$2,000 to your OCBC 360 Account every calendar month. You can meet this minimum salary requirement through a single credit or multiple credits each calendar month. If there are multiple joint account holders, the total salary amount credited to the account will be considered in meeting the Salary Credit Bonus requirement.

2Does all salary credit qualify?

While there are many ways salary gets credited into an account, only direct salary credits through GIRO with the description "GIRO - SALARY" in your statements will qualify for this bonus. Other forms of salary credit such as cheques, cash deposit, fund transfer, etc., strictly do not qualify for this bonus interest.

3How do I set up my OCBC 360 Account as my salary crediting account?

You just need to inform your HR department of your OCBC 360 Account number as the salary crediting account. You will only need to do it once.

CREDIT CARD SPEND BONUS

1How do I qualify for the credit card spend bonus interest?

You need to spend a minimum of S$500 across your OCBC Credit Cards (examples of eligible cards are 365, Titanium, Platinum, FRANK, Robinsons, Plus! and Best Denki). Eligible transactions with posting date within the calendar month will be considered, less off and excluding amounts in all transactions that are terminated, voided, reversed or cancelled.

You must also be the Primary Account Holder of the OCBC 360 Account as well as the Principal Cardmember of the eligible OCBC Credit Card(s).

If there are multiple joint account holders, only card spends by the Primary Account holder who is the principal cardmember will be considered in meeting the Credit Card Spend Bonus requirement.

2What about the existing rewards and rebates for my OCBC Credit Cards?

On top of the bonus interest, you will also enjoy all existing privileges of OCBC Credit Cards. Hence, you could be doubly rewarded! Should you not qualify for the bonus interest, you still enjoy all the privileges of OCBC Credit Cards.

3What cards are excluded from this bonus?

Your spending on these cards does not qualify for this bonus:

  • Debit cards
  • ATM cards
  • Corporate cards
  • Business cards
  • Private label cards
4What transactions are excluded from this bonus?

These transactions do not qualify for this bonus:

  • Balance transfers
  • Cash advance
  • Cashwise
  • Paylite
  • Smartchange
  • Fund transfers
  • Fees and charges

If you have transactions converted to instalment payment plans through PayLite, Apple (via Telesales or Retail Store), and Samsung Online Store, the transacted and posted amount will be eligible for the relevant calendar month of transaction. Any subsequent monthly repayments to such instalment payment plans will not be eligible.

If you have Cashflo or Instalment Payment Plan purchases, only the monthly instalment amount will qualify.

Any transaction 1) on credit cards that are terminated at any time and 2) that is subsequently cancelled, reversed or made void, will not qualify.

STEP-UP BONUS

1How do I qualify for the Step-up bonus?

You need to increase your account's average daily balance by at least S$500 from the previous month's average daily balance.

For illustration purpose:
Month Account average daily balance Eligible for Step-up Bonus?
October S$50,000 -
November S$50,500 Yes
December S$40,000 No
January S$80,000 Yes

WEALTH BONUS

1How do I qualify for the Wealth bonus interest?

You need to purchase any eligible financial product of at least the minimum amount through OCBC Bank to earn up to 1.2% per year. Only new purchases made from 1 November 2018 will qualify. Purchases of the same financial product will be aggregated, if their effective date post free look/cancellation period or 14 days, whichever is longer, falls in the same calendar month.

For eligible financial product purchases done prior to 1 November 2018, where you had qualified for wealth bonus interest of 1.2% per year on the first S$70,000 of your account balance, and have not completed the 12 month bonus period, you will continue to receive 1.2% per year on the first S$70,000 of your account balance for the remaining bonus period after 1 November 2018.

For illustration purpose:

Table below shows a customer whose account balance is S$70,000 and was eligible for Wealth Bonus of 1.2% per year from September 2018 to August 2019.

Month Bonus interest % Up to
September 1.2% 1st S$70,000
October
November
December
January
February
March
April
May
June
July
August

For eligible financial product purchases done prior to 1 November 2018, where you have qualified for wealth bonus interest of 0.6% per year on the first S$70,000 of your account balance, and have not completed the 12-month bonus period, you will receive 0.6% per year on the first S$35,000 and 1.2% per year on the next S$35,000 of your account balance for the remaining bonus period after 1 November 2018.

For illustration purpose:

Table below shows a customer whose account balance is S$70,000 and was eligible for Wealth Bonus of 0.6% per year from September 2018 to August 2019.

Month Bonus interest % Up to
September 0.6% 1st S$70,000
October
November 0.6% on the first S$35,000

and

1.2% on the next S$35,000
December
January
February
March
April
May
June
July
August

Note: To ensure that the product you purchase meets your financial needs, our financial consultants will perform a Financial Needs Analysis (FNA) with you in order to help you make an informed decision.

2When will I receive the wealth bonus?

You will receive the wealth bonus for 12 consecutive months after the effective date of purchase post free-look period or 14 days, whichever is later. Effective date refers to the inception date of the insurance product, trade date of unit trust, deposit start date of structured deposit and transaction date of other relevant investment products.

For example:

Effective date Effective date post free look period or 14 days First month of wealth bonus
1 November 15 November November
(Interest will be credited in December)
20 November 4 December December
(Interest will be credited in January)

Unit trusts or structured deposits investments that are subsequently cancelled will not be considered towards the minimum qualifying amount within the relevant calendar month.

3What happens if I subsequently purchase another eligible wealth product before the completion of my current 12-month bonus period?

The wealth bonus earned on your 360 Account will be extended for another 12 consecutive months after the effective date of (your most recent) purchase post free-look period or 14 days, whichever is later.

4Do I continue to get this bonus interest if I sell my investments or when they mature?

Yes. You will continue to get this bonus interest.

5How can I pay for the eligible financial products?

There are many ways to pay for insurance or investment products:

  • Insurance: Cash, cheque or credit card (except for PrimeGold Bonus 2 which also can be purchased using funds from your SRS account (any agent bank)
  • Structured Deposits: Funds from your OCBC deposit account or SRS account (any agent bank)
  • Unit Trusts: Funds from your OCBC deposit account, or CPF/SRS account (any agent bank) for applicable funds
  • Bonds, Equity-Linked Convertible Investments, Reverse Equity-Linked Convertible Investments, Structured Investments and Structured Notes: Funds from your OCBC deposit account
6Where can I find more information on the eligible products?

For insurance:

  • Regular & Single Premium Endowment Insurance Plans, please click here.
  • MaxRetirement & MaxRetirement Flex, please click here.
  • Regular Premium Protection Plans, please click here.
  • Universal Life Plans & PremierLife Legacy, please contact your Premier Banking Relationship Manager.

For investments:

  • Unit Trusts, please click here.
  • Structured Deposits, please click here or visit any OCBC Bank branch.
  • Bonds, Equity-Linked Convertible Investments, Reverse Equity-Linked Convertible Investments, Structured Investments and Structured Notes, please contact your Premier Banking Relationship Manager.

Alternatively, please leave your contact details here and we will get in touch with you.

7What financial products are excluded from this bonus?

These are examples of financial products that do not qualify for this bonus:

  • Cash Equities
  • Dual Currency Returns
  • Financing Facility
  • Foreign Exchange (FX)
  • OCBC Blue Chip Investment Plan
  • OCBC RoboInvest

GROW BONUS

1How do I qualify for the Grow bonus interest?

You will enjoy this bonus interest if your account's average daily balance is at least S$200,000.

For example:

Month Average daily balance
for the month
Qualify for Grow bonus?
October S$60,000 No
November S$250,000 Yes
December S$200,000 Yes
January S$300,000 Yes

BOOST BONUS

1If I am an existing 360 Account holder, how do I qualify for the Boost bonus interest?

To qualify, increase your account's average daily balance from the previous month's average daily balance.

Your account's average daily balance in the previous month must have at least S$0 or positive balances. This bonus interest will be paid on the incremental balance (difference between your account's average daily balance in the current month and previous month), capped at S$1,000,000.

For illustration purpose: Existing account as of Oct 2018.

Month Account balance Incremental balance eligible for
Boost bonus interest
October S$50,000 Not applicable
November S$200,000 S$150,000
December S$280,000 S$80,000
January S$1,300,000 S$1,000,000
2If I just opened a new account, will I get the Boost bonus interest?

If you open a new account, the bonus interest will be based on the average daily balance in the month of account opening.

You will qualify for this bonus in subsequent months based on the incremental balance in the respective months, capped at S$1,000,000.

For illustration purpose: New account opened in Nov 2018.

Month Account balance Incremental balance eligible for
Boost bonus interest
October Not applicable Not applicable
November S$50,000 S$50,000
December S$200,000 S$150,000
January S$1,300,000 S$1,000,000

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