Thursday, April 30, 2015

On the OCBC 360 Account vs UOB One Account


In an earlier blogpost, I discussed the changes to the OCBC 360 Account. Earlier it was mentioned that there will be 2 additional categories to earn "enhanced" bonus interest, both of which were announced today, 30th April 2015.

1) Wealth Bonus

Purchase of the following financial products and holding the products after the free look/cancellation period or 14 days, whichever is longer of the insurance or investment purchase will earn an additional 1% bonus interest on the OCBC 360 Account

Eligible financial productsMinimum qualifying amount
Regular Premium Endowment Plans:
  • MaxGrowth Enhanced
  • MaxGrowth Plus
  • MaxWealth Premier 2
  • MaxEdu Choice
  • PrimeGold Advantage
  • MaxRetirement
S$8,000 annual premium per policy
Regular Premium Protection Plans:
  • MaxTerm Enhanced
  • MaxTerm Enhanced (CI)
  • MaxFamily Cover
  • MaxFamily Protector
S$2,000 annual premium per policy
Single Premium Endowment Plan:
  • PrimeGold Bonus 2
S$40,000 single premium per policy
  • Universal Life
  • Universal Life Plus
US$150,000 single premium per policy
PremierLife LegacyS$150,000 single premium per policy
Structured DepositsS$40,000 within the calendar month

You can aggregate multiple lump sum purchases within the calendar month to meet the minimum qualifying amount.
Unit Trusts
(excluding Unit Trusts investments into money market funds, Systematic Investment Programme (OCBC Momentum) and Unit Trusts transferred in from other financial institutions)
  • Bonds
  • Equity-Linked Convertible Investments
  • Reverse Equity-Linked Convertible Investments
  • Structured Investments
  • Structured Notes
S$200,000

Foreign currency transactions have to be a minimum amount equivalent to S$250,000 per transaction.














































2) Save Bonus

How to earn bonus interest on the OCBC 360 Account

Summary of Changes

UOB ONE Account:

 table


To help you better understand the changes to the account terms, I have provided a summary table as well as embedded an analysis tool which you can use to determine how much interests you will receive on the OCBC 360 account, pre and post 1st May 2015. You can also use the analysis tool to compare between the returns on the OCBC 360 Account vs the UOB One Account.

OCBC 360 vs UOB ONE Account Analysis Tool
L.A.M.

OCBC 360 Account Analyser Download Link

If you liked this, you might also like:

On the Changes to the OCBC 360 Account

 






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  6. aaravlagharSeptember 10, 2020 at 8:26 PM

    Thanks for sharing the blog, seems to be interesting and informative too. Can you suggest some of the interesting places to visit for single premium endowment

    ReplyDelete