360 Account - High Interest Savings Account | OCBC Bank Malaysia

OCBC 360 ACCOUNT

A high interest savings account for your everyday needs

Why you will love this

Earn more on your savings account when you deposit, pay and spend

Receive monthly interest

Withdraw funds at any time without any lock-in period

Apply online via the OCBC Malaysia Mobile Banking App

Who can apply

Aged 18 and above

Malaysians with a MyKad (application via OCBC Malaysia Mobile Banking App)

Read in

Get rewarded with high interest on your savings when you perform everyday banking activities, paid monthly with no lock-in period.

current promotion
RM30 Welcome Cash Reward

Exclusively for new OCBC 360 Account customers

Receive RM30 Welcome Cash Reward and earn up to 5% p.a. for 2 months on your newly opened OCBC 360 Account during the promotional period.

Promotional period: 1 March to 31 May 2024

Note: Welcome Cash Reward is exclusively for new OCBC customers.

Terms and conditions apply.

how it works

Maximise your interest when you deposit, pay and spend with OCBC 360 Account.

Enjoy interest rate of up to 5% p.a. for 2 months when you perform your everyday banking activities.

(Exclusively for new-to-OCBC 360 Account customers)

Promotional period: 1 March to 31 May 2024.

0.10%

p.a.

Base rate

On your entire balance.

On your entire balance.

2.80%

p.a.

Deposit and Welcome Bonus1

Deposit at least RM3,000 each month for the first 2 months upon account opening.

(After 2 months, deposit at least RM500 every month to earn a 1.05% p.a.)

Deposit at least RM3,000 each month for the first 2 months upon account opening.

(After 2 months, deposit at least RM500 every month to earn a 1.05% p.a.)

+
+

1.05%

p.a.

Pay

Pay at least 3 bills online every month.

Pay at least 3 bills online every month.

+
+

1.05%

p.a.

Spend

Spend at least RM500 on your OCBC Credit/Debit Card(s) every month.

Spend at least RM500 on your OCBC Credit/Debit Card(s) every month.

+
+

Up to5.00%

p.a.

Enjoy

Enjoy up to 5% p.a. maximum interest on your savings.

Original interest rate will apply after 2 months.

Enjoy up to 5% p.a. maximum interest on your savings.

Original interest rate will apply after 2 months.

=
=

You will earn a base interest of 0.10% p.a. on your entire account balance regardless of whether you fulfil the above Bonus Pillars.

Assuming you fulfil the above Bonus Pillars in the first 2 months upon account opening:

  • Deposit & Welcome Bonus¹: You will earn a maximum Effective Interest Rate (EIR) of 2.90% p.a. for one month.
  • Deposit & Welcome Bonus¹ + Pay: You will earn a maximum EIR of 3.95% p.a. for one month.
  • Deposit & Welcome Bonus¹ + Pay + Spend: You will earn a maximum EIR of 5.00% p.a. for one month.

1New-to-OCBC 360 Account customers are entitled to an additional 1.75% p.a. Welcome Bonus Interest on top of “Deposit” Bonus Interest of 1.05% p.a. for the first 2 months upon account opening if a deposit of at least RM3,000 is made each month. The eligibility criteria for “Deposit” Bonus Interest category remains unchanged.

The Bonus interests and Welcome Bonus are capped at RM100,000 average daily balance for that calendar month. They are credited into the OCBC 360 Account within 31 business days from the start of the following calendar month.

CALCULATOR

Discover how much interest you can earn for the first 2 months on your New OCBC 360 Account opened during the promotional period.

Disclaimer

The amount is calculated on per month (31 days) basis and is for illustration purposes only.

The calculator is for your convenience only and you have chosen to use it and rely on any results at your own risk. OCBC Bank will not under any circumstances accept responsibility or liability for any losses that may arise from a decision that you may make as a result of using the calculator.

Enjoy up to 3.25% p.a. on your savings with no lock-in period.

0.10%

p.a.

Base rate

On your entire balance.

On your entire balance.

1.05%

p.a.

Deposit

Deposit at least RM500 every month.

Deposit at least RM500 every month.

+
+

1.05%

p.a.

Pay

Pay at least 3 bills online every month.

Pay at least 3 bills online every month.

+
+

1.05%

p.a.

Spend

Spend at least RM500 on your OCBC Credit/Debit Card(s) every month.

Spend at least RM500 on your OCBC Credit/Debit Card(s) every month.

+
+

Up to3.25%

p.a.

Enjoy

Enjoy up to 3.25% p.a. maximum interest on your savings.

Enjoy up to 3.25% p.a. maximum interest on your savings.

=
=

You will earn a base interest of 0.10% p.a. on your entire account balance regardless of whether you fulfil the above Bonus Pillars.

Assuming you fulfil the above Bonus Pillars every month:

  • Deposit: You will earn a Maximum Effective Interest Rate (EIR) of 1.15% p.a.
  • Deposit + Pay: You will earn a maximum EIR of 2.20% p.a.
  • Deposit + Pay + Spend: You will earn a maximum EIR of 3.25% p.a.

The Bonus interests are capped at RM100,000 average daily balance for that calendar month and will be paid by the 14th business day (not including Saturdays, Sundays and public holidays) of the following month.

CALCULATOR

Discover how much interest you can earn.

Disclaimer

The amount is calculated on per month (31 days) basis and is for illustration purposes only.

The calculator is for your convenience only and you have chosen to use it and rely on any results at your own risk. OCBC Bank will not under any circumstances accept responsibility or liability for any losses that may arise from a decision that you may make as a result of using the calculator.

OPEN WITH OCBC MALAYSIA MOBILE BANKING APP

Apply instantly from the comfort of home and start using your OCBC 360 Account in no time at all! Download and sign up via the OCBC Malaysia Mobile Banking app today.

Apply instantly from the comfort of home and start using your OCBC 360 Account in no time at all! Download and sign up via the OCBC Malaysia Mobile Banking app today.

Download OCBC Malaysia Mobile Banking App

Verify your MyKad and fill in your details

Fund minimum RM20 in the account via FPX

BEFORE YOU APPLY

Eligibility requirements

 

Minimum age

18 and above

Nationality

Malaysian Citizens with MyKad (application via mobile banking), Permanent Residents and Non-Residents (subject to the country of origin)

 

Deposit requirements

 

Initial deposit

RM20 (application via OCBC Malaysia Mobile Banking App)
Or RM500 (in branch)

Minimum balance to maintain in account

RM20 (Any transaction resulting in the balance failing below the minimum balance will be rejected)

 

Statements

 

Monthly statements

Paper or e-Statement

 



PIDM disclosure

This deposit is protected by PIDM up to RM250,000 for each depositor.

  • Deposit protection is automatic.
  • PIDM protects depositors holding deposits with banks.
  • There is no charge to depositors for deposit insurance protection.
  • Should a bank fail, PIDM will promptly reimburse depositors over their deposits.

For more information, refer to PIDM's DIS Brochures that are available at our counters or go to the website at www.pidm.gov.my.


WAYS TO APPLY

Open your 360 Account today

FAQS
Common Questions
General
  1. How different is the OCBC 360 Account from other savings account?

    The OCBC 360 Account is a savings account that pays you bonus interest when you do all or any of these:

    • Deposit at least RM500 every month
    • Pay at least 3 bills online every month
    • Spend at least RM500 on your OCBC Debit/Credit card(s) every month
  2. How is the interest calculated?

    You get 2 types of interest on your account balance every month.

    1. Base interest: This interest is accrued daily based on your account's day-end balance and you will receive this at the end of the month.
    2. Bonus interest: This interest is based on the first RM100,000 of your account's average daily balance for that calendar month when you fulfil all necessary requirements for "Deposit", "Pay" and "Spend" pillars. You will receive by the 14th business day of the next month; truncated to 2 decimal places. Business day is a day that is not a public holiday in Kuala Lumpur or Saturday or Sunday. 
  3. Can I open more than one OCBC 360 Account?

    No, you may only open one account where you are the Primary Account holder. This means that if you already have one account in your single name, you will not be allowed to open a joint account as a primary accountholder.

  4. What happens if I close my OCBC 360 Account before the interest crediting date?

    You will receive the prevailing Base Interest paid up to the day before the account closure. However, you will not be eligible for the Bonus Interest(s).

  5. Do I need to "time" my eligible transactions?

    Yes. There is occasionally a delay between when a transaction is performed by you, and when the transaction is posted to your account. Delays in the posting of transactions are due to various reasons, such as processing time, cut-off times, business days, etc. As such, only transactions that meet the qualifying criteria and are posted to your account within the month are counted towards payment of the Bonus Interest. The Bonus Interest will be paid out based on your average daily balance (up to a limit of RM100,000).

  6. How do I calculate the total interest earned for a month?

    You may refer to the Product Information Sheet for an illustration or use the Online Calculator; please also note the different calculation conventions between base interest and bonus interest (summarised in the table below).

Type of interest Rate and computation Remarks
Base interest

Accrued daily

Sum of (daily end balance x applicable rate for the day)

In the event of a rate hike or cut, the revised rate will be applied on the effective date. With this, the total Base Interest will be pro-rated.
Bonus interest

Calculated at month-end

Average daily balance (ADB) x applicable interest rate at month-end

In the event of a rate hike or cut, the revised rate will be applied on the whole ADB amount of the month and the Bonus Interest is only calculated once at month-end.
Bonus Interest - Deposit Pillar
  1. How do I qualify for the Bonus Interest - "Deposit" Pillar

    Just deposit cash/cheque amounting to RM500 and/or fund transfer from other banks. As suggestion, you may

    • Set this account as your salary crediting account. 
    • Or set a recurring fund transfer from other bank account.

    However, Base Interest and Bonus Interest are not considered deposits eligible for the Deposit Bonus Interest.

Bonus Pillar - Spend Pillar
  1. How do I qualify for the Bonus Interest - "Spend" Pillar

    For Credit Card

    • The OCBC 360 Account Primary accountholder has to be the Principal credit cardholder. 
    • Transactions charged by the Supplementary cardholder will be consolidated under the Principal credit cardholder's spending.
    • Only net1 retail spending posted within the same calendar month will be eligible.

    For Debit Card

    • The OCBC 360 Account must be tagged as the Fast Cash account for the debit card.
    • The joint accountholder's debit card spending is recognised (but must be tagged to the same OCBC 360 account as the Fast Cash account).
    • Only net1 retail spending posted within the same calendar month will be eligible.

    Amounts not eligible for the Spend Bonus Interest:

    • Annual fees and charges
    • Balance transfers
    • Amounts converted to the Installment Payment Plan or other similar plans.
    • Retail transactions subsequently cancelled, voided or reversed at any time and for whatever reason.

    1Net retail spending is defined as: Amount spent on retail transactions less amounts cancelled, voided or reversed in the calendar month.

  2. In what situations would I not qualify for the Spend Bonus Interest?
    • If there are any cancelled, voided or reversed transactions which result in your net1 spending for the calendar month falling below RM500.
    • If your retail transaction has already been charged but not yet posted within the same calendar month. Retail transactions charged on the last few days of the month may only be posted in the following month.
    • All FPX and DuitNow QR transactions.

    1Net retail spending is defined as: Amount spent on retail transactions less amounts cancelled, voided or reversed in the calendar month.

  3. If I spend RM200 on my credit card and RM300 on my debit card, will I still be eligible for the Spend Bonus Interest?

    Yes, if the combined net1 amount of both cards were fully posted within the same month.

    1Net retail spending is defined as: Amount spent on retail transactions less amounts cancelled, voided or reversed in the calendar month.

  4. My OCBC 360 Account is jointly held with my wife. Who will be eligible for the Spend Bonus Interest?
    • You and your wife jointly open a OCBC 360 Account
    • You are the primary accountholder while your wife is the secondary accountholder
    • You and your wife are principal credit cardholders
    Only Credit card spend by you (primary account holder) and your son will be recognised
    Credit card spend by your wife (secondary account holder) will not be recognised
  5. My OCBC 360 Account is jointly held with my wife. If she spends RM550 on her own OCBC Debit Card, and I spend RM300 on my own OCBC Debit Card, will we be eligible for the Spend Bonus Interest?
    • You and your wife jointly open a OCBC 360 Account
    • You and your wife's debit cards are tagged to OCBC 360 Account as your Fast Cash Account
    Your debit card spend (primary account holder) will be recognised
    Your wife's debit card spend (secondary account holder) will be recognised
  6. Can my credit card/debit card spending qualify for the OCBC 360 Account/-i Spend Bonus Interest?
    Type of Card Qualify for the OCBC 360 Account Spend Bonus? Qualify for the OCBC 360 Account-i Spend Bonus
    Credit Card Yes No
    Debit Card Yes, if the OCBC 360 Account is tagged as Fast Cash Account Yes, if the OCBC 360 Account-i is tagged as Fast Cash Account
    Debit Card-i No (as the Debit Card-i's Fast Cash Account must be Islamic account) Yes, if the OCBC 360 Account-i is tagged as Fast Cash Account
  7. Do I qualify for the Spend Bonus Interest if I top-up my e-wallet using the OCBC 360 Account?

    Yes, if you top-up your e-wallet using your credit card/debit card with the OCBC 360 Account as Fast Cash Account only.

    If you top up your e-wallet via FPX and DuitNow QR transfers, you will not qualify for the Spend Bonus Interest.

Bonus Interest - Pay Pillar
  1. How do I qualify for the Bonus Interest - "Pay" Pillar

    You just need to pay any 3 UNIQUE bills with your OCBC 360 Account through OCBC Online Banking (e.g. transfer to OCBC credit facilities/ JomPAY/ Interbank GIRO / DuitNow) every calendar month.

    For jointly-held accounts, eligibility for the Pay Bonus Interest will be based on the total number of payments done through the OCBC 360 Account within the calendar month, by either one or both accountholders.

  2. What is considered a bill to earn the Pay Bonus Interest?

    All the billers listed under bill payment, JomPAY, OCBC Credit Card payment and OCBC Home Loan payment.

  3. Do monthly instalments and Standing Instructions qualify for the Pay Bonus Interest?

    Yes, monthly instalments and standing instructions qualify for the Pay Bonus Interest so long as it is made from the channel of OCBC Online Banking to any of the below:

    • OCBC/OCBC Al-Amin home loan or financing facility
    • Any account with any bank/financial institution other than OCBC/OCBC Al-Amin
    • Participating billing organisations
  4. Are there any payment channels that are not qualified?

    Only payments made via the Financial Process Exchange (FPX) and DuitNow QR platforms do not qualify.

    Payments made online, Interbank GIRO and DuitNow through the OCBC Online Banking channel qualify.

  5. If I pay my insurance premium or any of my bills from my OCBC Credit Card, am I eligible for the Pay Bonus Interest?

    No. Payments from your OCBC Credit Cards are eligible for the Spend Bonus Interest instead. To qualify for the Pay Bonus Interest, you must make the payment(s) from your OCBC 360 Account.

  6. I made 3 payments to my loan facility account. Why did I not receive my Pay Bonus Interest?

    Multiple payments within the same month to the same merchant, payee, account and/or billing organisation will be deemed as ONE bill payment.

    However, if you have made multiple payments to different accounts within the same billing organisation and each payment may be uniquely identified to a distinctive account, you will be eligible for the Pay Bonus Interest.

  7. Are there any payments that are not considered eligible?

    Any payments that are subsequently cancelled, reversed or voided will not be eligible for the Pay Bonus Interest.

  8. Can I use JOMPAY on the Mobile Banking Application?

    Yes, but you must register a JomPAY biller on Internet Banking first so that it will appear on your Mobile Banking Application and thereafter, you may use JomPAY to pay your bills via the Mobile Banking Application.

    Note: Billers must be registered on Internet Banking for them to appear on the Mobile Banking Application. You cannot add Billers via the Mobile Banking Application.