How to Minimize Your Service Charges with OCBC Business Growth Account
As a business owner, it is important to keep your expenses under control and maximize your profits. One way of doing this is by using the right banking products that suit your business needs. OCBC Business Growth Account is one such product that can help you minimize your service charges and save money in the long run.
Introduction
OCBC Business Growth Account is a savings account specifically designed for small and medium-sized enterprises (SMEs) in Singapore. It offers a range of benefits and features that can help your business grow and thrive, including low monthly service fees, attractive interest rates, and easy access to funds.
In this article, we will take a closer look at how OCBC Business Growth Account can help you minimize your service charges and maximize your savings.
Low Monthly Service Fees
One of the biggest advantages of using OCBC Business Growth Account is the low monthly service fees. With just SGD 38 per quarter, you can enjoy a range of benefits including free cheque deposits, free fund transfers, and free ATM withdrawals.
Compared to other business banking products, this is a very reasonable fee that can help you save a lot of money in the long run. By keeping your service charges low, you can allocate more resources towards growing your business and achieving your goals.
Attractive Interest Rates
Another advantage of using OCBC Business Growth Account is the attractive interest rates. As of August 2021, the interest rate for this account is 0.05% per annum. While this might not seem like much, it can add up over time and help you earn more from your savings.
Moreover, if you maintain a minimum average daily balance of SGD 30,000, you can earn even higher interest rates of up to 0.15% per annum. This is a great incentive to save more money and earn better returns on your investments.
Easy Access to Funds
OCBC Business Growth Account also offers easy access to your funds, which can be important for managing your business cash flow. You can access your account through various channels such as online banking, mobile banking, and ATM withdrawals.
Moreover, you can link your account to other OCBC banking products such as the OCBC Business Debit Card and OCBC Business Credit Card. This can help you consolidate your expenses and manage your cash flow more efficiently.
Conclusion
In conclusion, OCBC Business Growth Account is a great banking product for SMEs that want to minimize their service charges and maximize their savings. With low monthly service fees, attractive interest rates, and easy access to funds, this account can help you manage your finances more efficiently and achieve your business goals.
If you are interested in opening an OCBC Business Growth Account or need more information about this product, you can visit the OCBC website or speak to a customer service representative.
