Bonus 1% P.A. Interest with OCBC 360 Account - 2 April 2018 to 30 June 2018 only

The OCBC 360 Account is one of my preferred saving accounts of choice since it gives up to 3.05% p.a. in bonus interest on up to S$70,000 of your account balance. It also gives an additional 1% p.a. on the first S$70,000 if your account balance is S$200,000 and above (but this is something you should ignore since there are better ways to invest your money). There is currently a promotion (which reminds me a little bit of the previous promotional mechanics) which offers an extra 1% p.a. interest on incremental balance based on the month on month average.

Click HERE to find out more about the OCBC 360 Account!

 Photo Credit: OCBC

Photo Credit: OCBC

If your average monthly balance for March 2018 was S$70,000, bringing the average balance up to S$100,000 in April 2018 will earn you an additional 1% p.a. on that additional S$30,000. In order to fully maximise this promotion, it is worth looking at whether or not bleeding your account back to S$70,000 in May (so that you can bring it back up to S$100,000 in June) makes any monetary sense.