NTUC-OCBC Starter Account

The starter account for smarter savings

Earn up to 1% per year

With S$0 initial deposit, S$0 monthly service fee, and cheque books available upon request.

Eligibility

  • Singaporeans, Permanent Residents, or Foreigners.
  • Exclusively for NTUC Union members only.

How it works

Boost your savings with a deposit account that earns you interest, with absolutely no lock-in period and minimum balance requirement.

0.1% per year
0.15% per year
0.1% per year

First S$50,000 deposit


 

Next S$450,000 deposit


 

Above S$500,000 deposit

(With effect from 1 September 2019)

To get the most out of your NTUC-OCBC Starter Account, simply

  • Credit your salary of S$1,000 or more per month via GIRO and
  • Make 3 transactions on your NTUC Plus! Visa Credit/Debit card to enjoy 1% per year interest rate on your first S$50,000 deposits!
1% per year
0.15% per year
0.1% per year

First S$50,000

(With effect from 1 September 2019)

Next S$450,000

Above S$500,000 deposit

(With effect from 1 September 2019)

What you will get

Your NTUC-OCBC Starter Account comes with a NTUC Plus! Visa Credit Card or Debit Card, that doubles as an ATM card to access your savings account.

Fees and Eligibility



NTUC Plus! Visa Debit Card

Minimum Age

16 years old

Criteria

Must be an NTUC Union member

Fees

Free (prevailing NTUC membership fee applies)


NTUC Plus! Visa Credit Card

Minimum Age

21 years old

Criteria

Must be an NTUC Union member

Minimum Annual Income

S$30,000 for Singaporeans and Permanent Residents; S$45,000 for Foreigners

Fees for Principal card

Free (prevailing NTUC membership fee applies)

Fees for Supplementary card

Free (up to 3 supplementary cards)


Fees (only for NTUC Plus! Visa Credit Card)

Interest fee

26.76% per annum

Penalty fee for partial or non-payment

Minimum charge of S$2.50 per month (calculated from the transaction date)

Fees and charges

For more fees and charges, view here

Current promotions

Get a S$50 cash rebate for crediting your salary

From September 2019, enjoy a S$50 cash rebate when you start crediting your salary of S$1,000 or more into your NTUC-OCBC Starter Account via GIRO by 31 Jan 2020

Terms and conditions apply

Questions you may have

What does NTUC-OCBC Starter Account offer and what is so special about this account?

NTUC-OCBC Starter Account is an account exclusively for NTUC Union members. Enjoy 1% per year on your first $50,000 of your balances when you credit your monthly salary of at least S$1,000 to your account via GIRO and make 3 Visa transactions on your NTUC Plus! Visa Credit/Debit Card per month.

NTUC-OCBC Starter Account is a current account that can be linked to your NTUC Plus! Visa Debit or Credit Card.

You can enjoy the following when you save in your NTUC-OCBC Starter Account account:

  • No minimum account opening fee
  • No monthly service fee
  • No lock-in period
  • Easy access via 1200 ATMs islandwide
  • Option of a cheque book
How does the NTUC-OCBC Starter Account interest rate work?

NTUC-OCBC Starter Account Account interest rates:


Balances in NTUC-OCBC Starter Account Base Interest Rates Bonus Interest Rate (With GIRO salary credit of at least S$1,000 + at least 3 Visa transactions on NTUC Plus! Visa Credit/Debit Card monthly) Total
S$0 - S$50,000 0.1% per year 0.9% per year

(With effect from 1 September 2019)
1% per year
S$50,001 - S$500,000 0.15% per year - -
Above S$500,000 0.1% per year

(With effect from 1 September 2019)
- -

Scenario 1:
If customer has S$600,000 and does not Salary Credit at least S$1,000 via GIRO + 3 Visa transactions on his NTUC Plus! Visa Credit/Debit Card monthly,

  • for the first S$50,000 he earns interest at 0.1% per year
  • and for the next S$450,000, at 0.15% interest per year
  • and for the final S$100,000, he will earn 0.1% interest per year.

Scenario 2:
If customer has S$600,000 and does Salary Credit at least S$1,000 via GIRO + 3 Visa transactions on his NTUC Plus! Visa Credit/Debit Card monthly,

  • or the first S$50,000 he earns interest at 1% per year
  • and for the next S$10,000, at 0.15% interest per year
  • and for the final S$100,000, he will earn 0.1% interest per year.

What are the other fees and charges on my NTUC-OCBC Starter Account?
Description Fees/Charges
Early account closure fee S$30 if closed within first 6 months
Cash withdrawal overseas via Visa Plus 3% of withdrawal amount (min. $5 / max. S$20)
Excess fee 4.75% + Prime rate; no min. amount
Reprint of statement S$20 per statement
Sales draft S$20 per draft
Failed GIRO (via credit card tagged to account) S$30
My NTUC-OCBC Starter Account is dormant, how do I activate it?

Should you wish to reactivate the account remotely, you may do so via OCBC Internet Banking. Or you may choose to visit any OCBC Branch to perform a simple over-the-counter transaction (e.g. a deposit or withdrawal of any amount)

Ways to apply

Open your NTUC-OCBC Starter Account with us today

Open your new NTUC-OCBC Starter Account with a new NTUC Plus! Visa Credit or Debit Card online.

Or if you are an existing NTUC Plus! Credit Cardholder, open a new NTUC-OCBC Starter Account which can be tagged to your existing Credit Card by visiting at a branch with these documents.

Locate a branch

Important Notices

Plus! U is a collaboration amongst NTUC FairPrice Co-operative Limited, Link Loyalty Service Pte Ltd and Oversea-Chinese Banking Corporation Limited. All banking products and services, unless otherwise stated, are provided by Oversea-Chinese Banking Corporation Limited for Plus! U.

Choose your card

NTUC Plus! Visa Credit Card

Select your card >

NTUC Plus! Visa Debit Card

Select your card >

For Singaporeans and Permanent Residents:
  • NRIC
For Foreigners:
  • Passport
  • Employment Pass (EP); or S-Pass
Additional documents
Include any one of the following documents:
  • Phone bill
  • Half-yearly CPF statement
  • Any bank statement

NEW

Get a queue number before visiting the branch via Easy Q!

Important notes

Insurance policies are underwritten by The Great Eastern Life Assurance Company Limited, a wholly owned subsidiary of Great Eastern Holdings Limited and a member of the OCBC Group, and are not deposits or obligations of, or guaranteed by OCBC Bank. The information provided herein is intended for general circulation and/or discussion purposes only. It does not take into account the specific investment objectives, financial situation or particular needs of any particular person. Without prejudice to the generality of the foregoing, please seek advice from a financial adviser regarding the suitability of any investment product taking into account your specific investment objectives, financial situation or particular needs before you make a commitment to purchase the investment product. In the event that you choose not to seek advice from a financial adviser, you should consider whether the product in question is suitable for you. It is usually detrimental to replace an existing accident and health policy with a new one. A penalty may be imposed for early policy termination and the new policy may cost more or have less benefits at the same cost. As buying a life insurance policy is a long-term commitment, an early termination of the policy usually involves high costs and the surrender value, if any, that is payable to you may be zero or less than the total premiums paid. This advertisement has not been reviewed by the Monetary Authority of Singapore.

1.

For Singaporeans and Permanent Resident

Please bring along original copy of:

  • NRIC
  • Birth Certificate of Child

For Foreigners

Please bring along original copy of:

  • Passport
  • Employment Pass (EP); or S-Pass or Student Pass
  • Birth Certificate of Child
2.

Initial Deposit:

S$0

3.

Proof of address (any one of the original documents below):

  • Phone bill
  • Half-yearly CPF statement
  • Any bank statement

NEW

Get a queue number before visiting the branch via Easy Q!

Share the gift of saving

For the past 10 years, we have partnered parents in teaching their children the value of saving at an early age. This value of saving then becomes a gift that they can carry into adulthood.

Start your children on their saving journey today with OCBC Mighty Savers®!

What you need to know


Initial Deposit
No initial deposit required
Minimum Balance
No minimum balance to maintain
Monthly Statements
e-Statement

Terms and Conditions Governing Mighty Savers® Chinese New Year Promotion

List of savings accounts under the OCBC Mighty Savers® Programme: Young Savers Account and Mighty Savers Account. Free gifts are issued while stocks last. The deposits placed into the Young Savers Account or Mighty Savers Account for the above promotion will be earmarked for a period of 3 months from the date of placement. Should any customers, after receipt of the gift, subsequently withdraw the deposits within the stipulated period from the date of placement, OCBC Bank shall be entitled to debit the value of the gift plus any goods or services tax, or such other amount as it deems fit from any OCBC Bank account of the customer. Limited to one gift per child.

Terms and Conditions Governing PAL Promotion

OCBC Mighty Savers® customers have to present their Young Savers Account passbook/Mighty Savers Account statement to VivaPal, the owner of the PAL membership, upon registration to enjoy the fee discount. Promotion is valid from 1 November 2015 to 31 May 2016.

Disclaimer

Please note that you will be leaving the OCBC Bank website to Great Eastern's website, a third party website. OCBC Bank has no control over this website and is not responsible for its contents.

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