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Read MoreOCBC Bank will be significantly reducing the bonus interest rates on the OCBC 360 Account from 01 July 2020 - everything you need to know!
Read MoreThe OCBC 360 Account will be introducing some changes on 02 May 2020 - should you still put your money inside this savings account? Get a summary and some additional insights into the upcoming changes!
Read More3.8% p.a. is worth investing in, right? Well yes, but you may not be getting that full amount (or anywhere near) with your DBS Multiplier Account.
Read MoreGone are the days in Singapore where your savings accounts only attract a 0.05% p.a. interest rate. While I have always advocated the use of OCBC 360 for a young working adult, the newly-enhanced DBS Multiplier Account looks comparatively attractive now that I have greater expenses and commitments. The bonus interests applicable to the DBS Multiplier Account is capped at S$100,000 (S$30,000 more than the OCBC 360) but more importantly, it rewards you based on the total value of eligible transactions each month.
Read MoreOCBC introduced some changes to the 360 Account back in November 2018 and one month after the new changes took effect, the bank awarded a bonus interest of 2.0% (instead of the 1.6% which was initially advertised) on balances between S$35,000 and S$70,000. This promotional interest rate was supposed to end after March 2019 but it appears that the bank has now made this positive change permanent.
Read MoreIt has been almost a year a half since OCBC 360 introduced any changes and this is set to change (again) from 01 November 2018. I have done multiple comparisons between this account and other competing products offered by other local banks in Singapore and the OCBC 360 is still the account that I have been sticking with throughout the years. From 01 November 2018, OCBC 360 will be introducing a new tier of bonus interest rates for balances between S$35,001 and S$70,000. While there is perhaps one negative change to the total bonus interest that one can get out of this account, it appears to be largely positive if you are currently maxing out the bonus with an average monthly balance of S$70,000.
Read MoreIf you are planning to travel to the US next year, it may be a good idea to lock-in attractive USD/SGD rates well before your trip - especially when the DBS Multi-Currency Account (MCA) is offering a promotional interest rate of 2.50% p.a. from September to December 2018 on eligible fresh funds deposited in the account. The MCA comes with a range of different benefits, so if you are expecting to transact in USD in the year ahead, you will probably want to take advantage of this promotion to lock-in the attractive interest rates and save up for your upcoming expenses in the meantime.
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