OCBC aims to hook young professionals with higher interest on deposits
Published on Apr 9, 2014 3:57 PM
Rock-bottom interest rates on bank deposits here are a common grouse with savers - and one that OCBC is hoping to offer a solution to.
It is offering what it touts as "market-beating" interest rates of up to 3.05 per cent for customers who increase their transactions with the bank.
Its banking account "OCBC 360" now pays higher interest rates if the client directs his monthly salary of at least $2,000 into the account. Rates go higher still if the client uses the account to pay for at least three bills per month.
Those who have OCBC credit cards and spend $400 per month will also earn higher interest rates on the account.
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