$$$ KPO and CZM $$$: OCBC 360 vs UOB One Account

Saturday, March 4, 2017

OCBC 360 vs UOB One Account

KPO says I am lazy, so I shall prove him wrong!

So as what KPO has mentioned previously, OCBC 360 has recently revised its terms where spending of $500 only gives 0.3% interest on deposit (as compared to 0.5% previously). Should we still remain with OCBC 360?

I did some calculations as per below.

From the table, you can see that OCBC 360 is still the better option for most salaried workers. It seems that OCBC is no longer the better option. The difference in interest increases if you have more deposit. Apologies if this post has mislead anyone! I shall go crunch some numbers and do up a more detailed analysis for all/majority of the banks (WIP) - Edited by KPO: Thanks to Investing Wolf for pointing the mistake.

However, if you are not drawing any salary or your salary is below $2000 and you have $500 spending every month, UOB One Account will always be the better choice.



  1. Hi CZM,

    I'm afraid you are mistaken. Do take not that your calculation on the next 20,000 (2%) column was miscalculated. 2% of 20,000 should be $400 instead of $200.

    Also, OCBC has a base interest rate of 0.05% on top of their bonus.
    So you only benefit from the UOB One account if you have >$30,000 account balance.

    1. Hi Investing Wolf, thanks for pointing out the mistake! I have made the changes! CZM did not include the base interest as comparison because both banks have the same 0.05% base interest.

      I see that you did a similar write up and we share the same view on the additional interest if one has $200k in the account :)

  2. Haha... Agreed on all points. :) We should always fact check to ensure accurate postings. :)