All you need to know about OCBC 360 Account

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
  • Pay bills online or through GIRO
  • Spend on your OCBC Credit Card(s)
  • Insure or invest with OCBC
  • Save in your account

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.

a)

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.

b)

Bonus interest: You earn 5 types of bonus interest on the first S$70,000 of your account's average daily balance and you will receive bonus interest by the 7th business day (exclude Saturday, Sunday and Public Holiday) of the following month:

  • Earn 1.2% p.a. for crediting your salary of at least S$2,000 through GIRO and/or
  • Earn 0.3% p.a. for paying at least 3 unique bills online or through GIRO with total bill payment amount of at least S$150 and/or
  • Earn 0.3% p.a. for spending at least S$500 across your OCBC Credit Card(s) and/or
  • Earn either 0.6% or 1.2% p.a. for 12 consecutive months when you purchase a new eligible insurance and/or investment product from OCBC and/or
  • Earn 1% if your account average daily balance for the month is S$200,000 and above.
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 PAYMENT BONUS
360 CC SPEND BONUS
360 WEALTH BONUS
360 SAVE 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.

6How do I qualify for the salary 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 bonus requirement.

7Does all salary credit qualify?

While there are many ways salary gets credited into an account, only salary credit from your employer 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.

8How 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.

9How do I qualify for the payment bonus interest?

You need to pay at least 3 unique bills with your OCBC 360 Account through OCBC Online Banking or GIRO every calendar month, with a total bill payment amount of at least S$150. Multiple bill payments on the same bill within the calendar month will be considered as a single payment.

For example:

Payment Bonus

10Why do I want to pay my bills with OCBC Online Banking?

It is easy to pay your bills using our Pay Any Bill or Pay Any Card services on OCBC Online Banking, with its user friendly interface and simple steps to make your payments. You can also easily set recurring GIRO payments with OCBC Online Banking, or download and complete the GIRO forms and submit to the respective billing organisation.

11Where can I find more information on OCBC's payment services?

For more information on our Pay Any Bill and Pay Any Card services, please click here.

For GIRO payments, please click here.

12Are there payments that are excluded?

All online bill payments or GIRO that is subsequently cancelled, reversed or made void will not qualify.

Payments made via AXS, SAM, ATMs, and eNETS do not qualify for this interest.

13How do I qualify for the credit card spend bonus interest?

You need to spend a minimum of S$500 across your OCBC Credit Card(s) (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 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.

14What 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.

15What cards are excluded from this bonus?

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

  • Debit cards
  • ATM cards
  • Corporate cards
  • Business cards
  • Private label cards
16What 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 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.

17How 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 either 0.6% or 1.2% per year. Only purchases made from 1 April 2017 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.

If you have qualified for wealth bonus interest of 1% per year on the first S$60,000 of your account balance prior to 1 April 2017 and have not completed the 12-month bonus period, you will receive 1.2% per year on the first S$70,000 of your account balance for the remaining bonus period after 1 April 2017.

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.

18When 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 deposits 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 April 15 April April (Interest will be credited in May)
20 April 4 May May (Interest will be credited in June)

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

19What happens if I qualify for wealth bonus more than once and the respective 12-month bonus periods overlap?

For months which there are overlaps, only one bonus interest will be accorded. You will receive the higher wealth bonus interest you have qualified for.

Wealth Bonus

20Do 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.

21How 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
22Where 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.

23What 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
24How do I qualify for the save bonus interest?

You will earn this bonus interest on the first S$70,000 if your account's average daily balance for the month is S$200,000 and above. This bonus rewards you for months when you have higher balances in your account. Similar to the other 4 types of bonuses, it will be accorded on the first S$70,000 of your account balances.

For example:

Month Average daily balance
for the month
Qualify for Save bonus?
April S$60,000 No
May S$250,000 Yes
June S$200,000 Yes
July S$200,000 Yes