Bonus+ Savings account

Give yourself a limitless bonus

Why you will love this

Receive 0.50% a year if you do not make any withdrawals

Get an additional 0.40% a year when you save at least S$500 a month

Earn a total of 0.95% a year on your total account balance

Who can apply

Anyone at least 16 years old

Singaporean, Singapore PR or foreigner with a valid pass

Earn higher interest by saving regularly and with no withdrawals in the month.

How it works

Earn a maximum of 0.95% a year on your entire account balance every month when you meet all of the following criteria:

  • Total interest earned
  • How to gain interest

Earn up to 0.95% a year

on your entire account balance

0.40% a year

No-withdrawal and save bonus interest

Earn additional bonus interest when you deposit at least S$500 and do not make any withdrawals in the same month.

0.50% a year

No-withdrawal bonus interest

 

Earn bonus interest when you make no withdrawals in a month

0.05% a year

Base interest

before you apply

Eligibility requirements

Minimum age

16 years old

Documents required

NRIC for Singaporeans and Singapore PRs

Passport and a valid pass (e.g. Employment Pass (EP) or S-Pass or Student Pass) for foreigners

Additional document

Include any one of the following documents that shows your residential address

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


Fees

Fall below fee

S$2


Deposit requirements

Initial deposit

S$5,000 in fresh funds

Fresh funds refer to funds not transferred or withdrawn from existing OCBC Bank deposit accounts and re-deposited or funds in the form of OCBC Bank cheque/cashier's order/demand drafts.

Minimum average daily balance for the month

S$3,000


Statement

Monthly statements

e-Statement only


Letters

You will receive electronic versions of Letters for all your relationships/accounts.




Deposit Insurance Scheme

Singapore dollar deposits of non-bank depositors and monies and deposits denominated in Singapore dollars under the Supplementary Retirement Scheme are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. Monies and deposits denominated in Singapore dollars under the CPF Investment Scheme and CPF Retirement Sum Scheme are aggregated and separately insured up to S$75,000 for each depositor per Scheme member. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.


ways to apply

Open your OCBC Bonus+ Savings Account today

FAQs
Common questions
How do I qualify for the various interest types?

You get 2 categories of interest on your account every month.

1. 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.

2. Bonus interest:

You earn 2 types of bonus interest on your account’s average daily balance and you will receive this on the 1st business day of the following month.

  • Earn a Monthly No Withdrawal bonus interest of 0.50% a year for months when you do not make any withdrawals.
  • Earn a Monthly No Withdrawal & Save bonus interest of 0.40% a year for months when you do not make any withdrawals and deposit at least S$500.
How can I deposit the minimum S$500 each month to be eligible for the Monthly No Withdrawal and Save Bonus Interest?

You can choose to deposit the money through any of your preferred methods. For example, you can set up a recurring monthly FAST contribution instruction. Do note that funds received on a non-business day via FAST or PayNow (for example, Sunday or public holidays) will be valued on the next business day. If your funds have a value date that falls in the next calendar month, you will not be eligible for the Monthly No Withdrawal and Save Bonus Interest for that particular month.

Is there an account balance limit for the Bonus Interest?

No there isn’t. You will get the bonus interest on your entire account balance, if the required criteria is met.

What happens if I make a withdrawal in that month?

You will receive the base interest (0.05% a year) for months when you make a withdrawal. For subsequent months, you can earn bonus interest (up to 0.95% a year) if you meet the bonus interest criteria. Earn a maximum of 0.95% a year if you meet the bonus interest criteria every month.

Example scenario:

Month Withdrawal Deposit ≥ S$500 Total interest (a year)
January Yes Yes 0.05%
February No No 0.55%
March No Yes 0.95%

If you withdraw from the account this month, you can still enjoy the bonus interest if you meet the criteria in the following months.

Is interest rate credited on a monthly or yearly basis?

Bonus interest is credited monthly, on the 1st working day of the following month.

1
For Singaporeans and Permanent Residents:

NRIC

For foreigners:

Passport
Employment Pass (EP); or S-Pass or Student Pass

2
Initial deposit:

S$5,000

3
Include any one of the following documents:

Phone bill
Half-yearly CPF statement
Any bank statement

Apply via Myinfo

Open your account instantly when you apply with Myinfo via Singpass login.

or

Apply manually

If you do not have Singpass, you can apply online with these documents 

  1. For Singaporeans and Permanent Residents:

    • NRIC
  2. Initial deposit

    • S$5,000
  3. Additional documents
    Include any one of the following documents:

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

Sign up for Bonus+ Savings Account Promotion online

Existing OCBC customers

Log in to Online Banking to sign up for the Bonus+ Savings Account promotion. If you do not have an Online Banking account, click here.

or

New customers

For new customers, apply for a new OCBC Bonus+ Savings Account online with Myinfo, then register your participation online. If you do not have Myinfo or are a foreigner, visit the nearest OCBC Bank branch to open your account today.

Note: Fresh funds must be transferred from a non-OCBC bank account within 3 calendar days from the date of registration.