UOB One vs OCBC 360: Best High Interest Savings Account 2024

🔗 Products mentioned in video:
- OCBC 360 Account R6U9FDOS
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OCBC 360 (Salary, Save, Spend)
* Base interest: 0.05%
* Salary credit $1800: Earn 2.5%
* Increase balance by S$500 monthly: Earn 1.5%
* Spend S$500 on OCBC cards: Earn an additional 0.6%
With $100,000 in savings, the Effective Interest Rate (EIR) is 4.65% p.a.
* Yearly interest: $4650
* 30-day interest: $382

UOB One
* Min $1600 Salary credit
* Min $500 on UOB cards: Eligible cards include UOB One, Lady’s, EVOL, Lazada, Mighty FX, and more
With $150,000 in savings and fulfilling all criteria, the EIR is 4% p.a.
* Yearly interest: $6000
* 30-day interest: $493

Example 1: $100,000 savings

Example 2: $150,000 savings

Example 3: $150,000, with UOB Savings Promo

#sponsoredby #webull

[HoneyMoneySG]

🔗 Products mentioned in video:
- OCBC 360 Account R6U9FDOS

[Marty-gvnv]

as a former ocbc 360 customer, I won’t recommend it. The save category doesn’t mean every 1st of the month save $500. It means u need to check via the web portal if u meet the criteria not available on the app. U need to top up slightly more even up to $600 to meet the save category and this is repeated every month. Uob one I feel is super easy with just spend $500 end of last week of month. Use a one card strategy. With 150k balance .

[JunXiongOng]

It would be nice to blend in miles farming and high interest farming strategy for the same 2 accounts. In this case, with some boundary conditions of my own scenario, i found the UOB ecosystem to be a better off.

[daren]

Also need to consider the credit card spend side imo.

The $500 spend nicely aligns with UOB One CC's min spend per month per quarter and you'll get cashback after the quarter.

I don't recall there's any OCBC card that has a minimum spend of $500, so you'll end up spending more than $500 if you want to meet your OCBC CC min spend too.

[eeyonglin]

hi chris i went to find out more on how to sign up for the uob nation saver promotion after watching ur video and realised that the 150k must be fresh fund. 😅.

[dave]

Don't forget you will have to consider opportunity costs from resetting ocbc 360 account when hitting $100k. It is not 4.65% flat all the way

[shuminchua]

Hello! Can I do a lump sum $10k and OCBC will recognise it as $500 incremental for 20 months? If not the salary credit can be recognised as $500 incremental? Thank you.

[thewitcheralive]

The $150k for the nation of savers needs to be fresh funds, right ?

[ribofen]

If you hit 100k in ocbc already, still need to increment $500 per month after that to get the bonus? Then that extra over 100k is kinda wasted right, just to hit the increment criteria?

[bentaku]

Any easy way to fulfil salary criteria like uob one method?

[AlanSoph]

The comparison is not accurate, if u take away the incremental 500 monthly, the clear winner is UOB one. UOB one needs 2 conditions and OCBC needs 3.

[patricksng]

Salary credit for ocbc can use paynow or fast payment? I don't think so...

[applered]

What credit card can replace UOB EVOL card ?

[RooseveltStjohn-jm]

Wilson Matthew Thompson Brian Lee Angela

[charlesjudeumahi]

Great vid mate
Do you have a discord channel?