Boost Your OCBC360 Interest Rate to 3.55%pa from April 2019!
Yes! You can easily boost your OCBC360 Account interest rate to 3.55% per month on alternate months! Yes, if you can meet the salary crediting and Credit card spend criteria, you can play this game.
Here is how you should play this game to earn 3.55% pa on alternate months, giving you an average of 2.75% pa on $70,000!
1 Open OCBC360A (personal) and OCBC360B (joint with sibling, eg)
2 Mth0 = OCBC360A = OCBC360B = zero
3 Mth1 = OCBC360A = $70k
(credit salary=1.6%+ credit card $500=0.45%+Stepup =0.45%+Boost=1%+Base=0.05%) Total = 3.55%
4 Mth2 = OCBC360A = 0
OCBC360B = 70K
(credit card $500=0.45%+Stepup =0.45%+Boost=1%+Base=0.05%) Total = 1.95%
5 Mth3 = OCBC360B = 0
OCBC360A= 70K (repeat from step 3)
Average interest earned per mth = 3.55%+1.95% = 2.75% = $1925 per year
(By transferring funds between 2 accounts every mth, you automatically earn the stepup (0.45%) and boost (1%) interest. Bingo!)
If you are unable to open OCBC 360B account, not to worry. You can still play this game with other accounts, egs. Below:
- SCB Esaver = promo rate for balance above 50k 1.9% for April/May.
- UOB One Account = 2.43% with credit card $500 and 3 giros = average interest =3.55%+2.43%=2.99%
Goodluck!
(OCBC360 min 3k balance fall below fee ($2) waived for first year)
