<\/p>\n
With effect from 01 October 2013, interest rates for OCBC FRANK account will be revised downwards.<\/p>\n
<\/p>\n
Below shows the new interest rates.<\/p>\n
<\/p>\n
| FRANK Account Balance<\/th>\n | Interest Rates (p.a.)<\/th>\n<\/tr>\n |
|---|---|
| First $10,000<\/td>\n | 0.20%<\/td>\n<\/tr>\n |
| $10,001to $100,000<\/td>\n | 0.30%<\/td>\n<\/tr>\n |
| $100,001 to $500,000<\/td>\n | 0.40%<\/td>\n<\/tr>\n |
| From $500,001<\/td>\n | No interest!?!<\/td>\n<\/tr>\n |
| <\/td>\n | <\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n <\/p>\n I’ve suspected that the higher than normal interest rates will be subject to downwards revision (if interest rates environment stays low) as usually it is a tactic used by banks to entice customers to open the accounts with them.<\/p>\n However, I’m surprised that under the new revised rates, there is actually no interest given for account balance of more than $500,000.<\/p>\n <\/p>\n Although this is a downward revision, it is still one of the bank accounts with higher than normal interest rates of 0.05% p.a. If you are interested in what OCBC FRANK Account has to offer, feel free to read my previous post<\/a>.<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" With effect from 01 October 2013, interest rates for OCBC FRANK account will be revised downwards. Below shows the new interest rates. FRANK Account Balance Interest Rates (p.a.) First $10,000 0.20% $10,001to $100,000 0.30% $100,001 to $500,000 … Continue reading |