Search Results for: ocbc 360

OCBC 360 Account: An Amazing Product?!

Once upon a time, there were about 6 or 7 local banks in Singapore. But after the Asian Financial Crisis in 1997 and MAS’s commitment in 1999 to liberalize foreign access to Singapore’s domestic banking market, the local banks started merging with each other to consolidate their balance sheets. Finally, we are now left with the 3 local stalwarts: DBS, OCBC and UOB.  With the influx of foreign banks like Standard Chartered (of the Manhattan Card, X Saver accounts, Bonus Saver accounts fame) and continuing competition from local banks like DBS (with recent products like the POSB Invest Saver and POSB...

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OCBC360 vs UOB One: The Verdict

I hope the web calculator that I put up last week has been useful in helping readers to decide whether the OCBC360 or UOB One account is better for them. I have since enhanced the web calculator to include credit card rebates. However, the focus of today’s blog post is not on the web calculators, but on the guidelines and charts to assist readers to understand better the scenarios in which either of the accounts is better. If you have played with the web calculator, you would realise that while the calculator can tell you precisely which account is...

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OCBC360 vs UOB One: The Calculator

One of the shortcomings of a blog is that the information shown is static, meaning that while we could discuss guidelines and present charts, these guidelines and charts might not quite apply to everybody’s situation. A case in point is the question whether the OCBC360 or UOB One account pays better. Depending on your situation, either one could be better, but guidelines and charts do not quite reflect your situation accurately. Hence, this blog post is a proof-of-concept to create a dynamic web calculator that takes in your input and compute which account is better for you. Having said...

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OCBC360 interest rates revision Part 2

The OCBC 360 changes are announced.  Changes include:1) “credit your salary” bonus interest increased from 1% to 1.2%2) “pay 3 bill” bonus interest decreased from 1% to 0.5%3) “Spend on credit card” bonus interest decreased from 1% to 0.5%4) “Spend on credit card” bonus interest spending criteria increased from $400 to $5005) new bonus interest: “insure or invest” bonus interest. To qualify, you must “purchase any new eligible financial product from OCBC of at least the minimum amount, such as Endowment of at least S$8,000 in annual premium, or investment products such as Unit Trust or Structured Deposits of...

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OCBC360, DBS Multiplier & Cimb StarSaver Trio

If you are one of those unlucky ones(like me) who are unable to meet the 1% interest salary crediting requirement due to OCBC’s strict “GIRO-SAL” code criteria, you can open a DBS multiplier and get 1.08%-2,08% per annum on a monthly basis for $50k. They have recently revised their first tier interest to 1.08% from 0.98% as shown below. Which means if your “monthly banking” with them is at least $7.5k, you will be ensured $45 a month(at least something). The $7.5k total can include salary, housing loan, dividend payments from cdp and dbs credit card spending. It can...

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DBS Multiplier vs POSB, OCBC, UOB, BOC

  Thank you to some readers who push me to work update my latest table on bonus interest. My last post comparing all the different bank account needs to revise now. I was very motivated to write on this because this is one of the rare times where bank actually revise their bonus interest upwards. Finally! What is DBS Multiplier? I like the bunnies, quite creative! Let’s jump straight to the good part: No minimum salary credit No minimum credit card spending Sounds so good! Especially now that I am self employed at SnackFirst, all the more I need an account...

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The new OCBC Frank card has lost its appeal

Guest post by Coftea With its 6% cashback given for online spending, the OCBC FRANK card is every online shopper’s must-have. Well, not from 1st Oct 2015 onwards when the new changes come into effect. Good things tend not to last. What’s so bad about it? FRANK is turning into every other card out there, tempting you with attractive benefits but making the requirements hard to achieve. And it has lost its focus on online spending, foraging into cashback for offline spending on entertainment. It is no longer as frank anymore. Let’s run through what’s so bad, from the worst to the...

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Why OCBC PLUS! VISA Credit Card is Good for me

After my rant of the new OCBC FRANK Credit Card CC updated terms and conditions, I decided to look for a new credit card for use of my OCBC 360 account. After looking through all the OCBC Credit Cards, I guess I ended up with the PLUS! VISA Credit Card. Now this is not a card for everyone, just so happen for now that card works best for me. My spending habits are pretty frugal so I can’t hit a minimum spend of $400 retail spend which excludes the $100 from NETS ATU of FRANK and online spend (despite...

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The Annoying OCBC FRANK Credit Card Update Rant

Well, some of my friends know that this is the beginning of my PH-less, no more weekends, and no TGIF-half-the-time life. It is tough but not too bad. But OCBC had to send me this: Yes, they are going to “update” the benefits like how they made the 360 account “just got better”. And it is not even a year for me with that card. =.=” Well, could also be my fault. I guess I’m too frugal. Looking on the bright side, for many people, it makes this card more useful especially for young singles with the weekday and...

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OCBC First Quarter Results Review

OCBC continues to delivery good results, as net profits for 1Q15 were 11%! I think this is pretty much in line with estimates and I personally expect them to grow full year earnings by around 10%, as compared to FY14. Part of the growth came from their expansion in the greater china region, as it now forms 19% of total earnings based on the yellow bar above. I think their acquisition of Wing Hang Bank a year ago was a pretty good move and we should continue to see better results. However my main worry would be the NIM...

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DBS.. UOB.. OCBC.. hot favourite?

(the above photo from: Straitstimes.com) The 3 local banks recently announced their earning and according to straits times today, only UOB had beaten the market forecast. But well, the other 2 banks are not shabby after all. All of them are still rated as AA1 by Moody. Out of the 3, OCBC seems to be stealing the limelight in recent years. Do you agree? The most prominent news is the recent acquisition of Wing Hang. I find that their website and online banking are the easiest to navigate around as compared the others.  Simple yet informative. Especially for the...

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The OCBC Bonus+ Savings Account: How much interest

Most local Singapore banks are fighting quite hard to ask you to move your money from one bank to another bank by providing higher interest rate in a super low fixed deposit rate world. OCBC is also doing the same thing. They brought us a very useful OCBC 360 savings account which a lot of people prefer because there is no need to deposit more and more money into the account (you can read it here), all you have to do is automate salary deposit into the account, pay a number of bills through the account and spend $500...

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Have you 360 recently?

It’s interesting that banks are coming up with the 360 relationship concept. This concept was not really that new but has became more popular in recent months. If i am not mistaken, Standard Chartered first pioneered this concept to reward you on a overall relationship such that you received reward points if you have a housing loan, investment account, credit cards with them. OCBC and DBS then offered something along those lines where they give you a higher tiered interest if you met some or all of the conditions, including if your salary is credited into their bank account etc. Do...

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OCBC Bank – Bonus Interest Rate of Up to 3.05%

CNA published an article on competition for deposits among banks in Singapore. The bonus interest rate of 3.05% p.a. caught my attention because it is way higher than current interest rates. I did a search on Google and found the following media release from OCBC: Earn up to 3.05% p.a. with enhanced OCBC 360 Account by crediting salary to the account, paying 3 bills through the account, and by using OCBC Credit Cards. Here’s how it works: On top of a base interest rate paid on the account balance, there are three separate ways to earn bonus interest –...

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OCBC Bank: Get Ready for the Reversal

OCBC Bank has rebounded strongly after forming a Hammer at the Support. See previous analysis here. This Santa Claus Rally probably will continue for one more week with potential Window Dressing and Portfolio Pumping by the Fund Managers. So, watch for reversal candles when OCBC Bank get close to about $10.26 and $10.30. If the reversal does happen, the Symmetrical Triangle support will become resistance to confirm the successful breakout with price target of $8.70. Current P/E Ratio (ttm) 13.4834 Estimated P/E(12/2013) 13.2208 Relative P/E vs. FSSTI 1.0052 Earnings Per Share (SGD) (ttm) 0.7550 Est. EPS (SGD) (12/2013) 0.7700 Est. PEG...

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