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OCBC 360 Account New Interest Rates (Effective from 01Jul20)

OCBC is reducing their interest rates in view of the Coronavirus on top of a falling interest rate environment and probably with the tougher climate.



They have slashed interest rates and removed pretty much all the bonuses.

Like my previous post, let's do the spreadsheet again.


Nothing really to be excited about.

Conclusion

I will look at DBS Multiplier (though I believe they would adjust it down again). 

I am still glad I bought OCBC shares instead of parking those funds in my OCBC 36o account.

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2 comments:

  1. I suspect that the rest of the banks will also cut their interest rates (DBS Multiplier, UOB One). I am going to wait a while to observe to see if I should switch out of OCBC. OCBC 360 has served me well for years.

    ReplyDelete
    Replies
    1. Yea, agreed.

      I do like the savings goals of OCBC. I am even considering CIMB Fastsaver but they might slash too.

      Wait and see I guess.

      Maybe I might not switch too if the interest rates are too low to be worth the effort.

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