OCBC 360 - from 3.05% to 2.25% Account... Still the best for me

This post came from my other blog at Singapore Corporate Bonds and Preference Shares... Include Credit Cards so http://singaporecorporatebonds.blogspot.com/2015/05/ocbc-360-from-305-to-225-account-still.html

With a change in policy from OCBC this year, they tried to tie in more criteria to sell more products and generate more sales and at the same time, cushion the impact of unhappiness. Well, it looks like an increase but it is actually a decrease.

• Salary Credit increases to 1.2% per annum
• 3 GIRO dropped to 0.5% per annum
• $500 Credit Spend dropped to 0.5% per annum
• 1% more if you buy structured products, unit trusts or selected insurance (Selling more products here)

To me, the last criteria is not really important as they are trying to sell more products here. That leaves me with 2.25% which is still not too bad.

Thus, for every $10,000 savings in the account, we will earn $225 per year with $50 coming from minimum $500 spend per month ($6,000 per year) credit card spend.

Still the best in town, better than fixed deposits. Just glad that I have enjoyed the earlier 3.05%.