Bonus 1% P.A. Interest with OCBC 360 Account - Extended to 30 September 2018
[Update: The 1% Bonus has been extended until 30 September 2018]
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.
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.
While seasoned miles chasers often look to foreign carriers for significant cost savings and sweet spots, Singapore Airlines KrisFlyer remains the undisputed default for the vast majority of Singaporeans. From the sheer number of credit card transfer partners to the preference for direct flights over stopovers, KrisFlyer is the Ya Kun of the miles game.