Accounts
Accounts - 360 Account - Insure Bonus
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How do I qualify for the Insure Bonus interest?
You need to purchase any eligible insurance product of at least the minimum amount through OCBC Bank to earn up to 1.2% a year. 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 illustration purpose:
Table below shows a customer who purchases an eligible financial product in November 2020, with S$25,000 account balance in November and S$75,000 from December 2020 to October 2021.
Month Account balance Wealth Bonus Interest (% a year) November S$25,000 0.4% December S$75,000 0.4% on the first S$25,000, 0.8% on the next S$25,000 and 1.2% on the next S$25,000 January February March April May June July August September October 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.
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When will I receive the Insure Bonus?
You will receive the Insure 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.
For example:
Effective date Effective date post free look period or 14 days First month of Insure Bonus 1 November 15 November November (Interest will be credited in December) 20 November 4 December December (Interest will be credited in January) -
What happens if I subsequently purchase another eligible insurance product before the completion of my current 12-month bonus period?
The Insure 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.
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How can I pay for the eligible insurance products?
There are many ways to pay for insurance products:
- Cash, cheque or credit card (except for PrimeGold Bonus 2 which also can be purchased using funds from your SRS account (any agent bank)
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Where can I find more information on the eligible insurance products?
- Regular & Single Premium Endowment Insurance Plans, please click here.
- MaxRetirement, please click here.
- Regular Premium Protection Plans, please click here.
- Universal Life Plans & PremierLife Legacy, please contact your Premier Banking Relationship Manager.
Alternatively, please leave your contact details and our Personal Financial Consultants get in touch with you.
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What insurance products are excluded from this bonus?
These are examples of insurance products that do not qualify for this bonus:
- Fire Insurance
- Travel Insurance
- Car Insurance