How to avoid the 3-hour queue for OCBC fixed deposit with Easy Q

After news broke that OCBC will be offering a 8-month fixed deposit at 3.88% for CPF OA funds, many Singaporeans have been rushing down to the branches to lock in the higher interest rates. 

Some in the Beansprout community who have already done so came back sharing that they had to wait for up to 3 hours.

The good news is that one of the helpful members in the Beansprout group shared an excellent way to skip the wait in the branch. 

So here’s the good things must share: With OCBC Easy Q on OCBC Mobile Banking, you can take a digital queue ticket before you arrive at the branch. 

Let’s go through how this can be done in a few easy steps. 

How to take a queue ticket with OCBC Easy Q?

Step 1: Launch the OCBC Mobile Banking app

Step 2: Tap on "More services".

Step 3: Select "Easy Q".

Step 4: Make a selection for Personal Banking or Premier Banking queue.

Step 5: Select a branch.

Step 6: Select a service.

Step 7: Enter a valid mobile number to take a digital queue ticket.

Your queue status will be updated on your digital queue ticket on Easy Q. The other function of Easy Q is that it will also display the queue situation of each branch.

Do I need a OCBC internet banking account to use Easy Q?

If you do not have the OCBC mobile banking account, do not worry! 

You can still use Easy Q even if you do not need a mobile banking account to use Easy Q.

How long does it take to apply for OCBC fixed deposit using CPF OA funds after my queue number is called?

Some of the community members who have applied for fixed deposits at OCBC using CPF OA funds said that the process takes about 20-30 minutes. 

To make the process as smooth as possible, you would need to have the necessary documents ready. This may include your NRIC or Singpass, as well as your CPFIS number. 

If you do not have a CPFIS account, read our guide on how to set up a CPFIS account. 

What if I still find that this is too much of a hassle?

One potential alternative to consider is to apply for Singapore T-bills using your CPF OA savings. 

DBS now allows you to apply for T-bills using your CPF OA savings through internet banking. Check out our guide on how to do so here. 

Where can I find out more about applying for OCBC fixed deposit or the Easy Q?

You may read more about our thoughts on applying for the OCBC fixed deposit using your CPF OA funds here.

Join the Beansprout Telegram group if you have more questions or would like to get more expert tips like these!  

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