​Max effective interest at $100,000

Any amount more than $100k only earns 0.05% interest.

The good thing about this account is you can withdraw and deposit again and as long as the monthly average balance is more than last month’s balance you still get the bonus interest.
At 0.825%, it’s pretty good for a simple deposit account. However, how many people have $100k sitting around ready to park in such an account?

If you’re depositing only $50k, then the effective interest is only 0.65%.
If you’re depositing between $50k – $100k, then the EIR is somewhere between 0.65% – 0.825%.

If we compare this account vs the OCBC Bonus+ Savings Account,
The OCBC Bonus+ Savings Account, straight off gives you 0.8% interest on ALL your savings.
The problem with the OCBC Bonus+ Savings Account is that you cannot withdraw else you won’t get the bonus …