From 1 August 2025, OCBC will be revising the bonus interest rates on its 360 Account, with notable reductions across key categories like Salary, Save, and Spend. This marks yet another rate cut, lowering further the maximum effective interest rate.
Comparison of Interest Rates (first S$100k)
Before 1 August 2025 | After 1 August 2025 | |||
First S$75k | Next S$25k | First S$75k | Next S$25k | |
Salary | 1.60% | 3.20% | 1.20% | 2.40% |
Save | 0.60% | 1.20% | 0.40% | 0.80% |
Spend | 0.50% | 0.40% | ||
Base Interest | 0.05% | 0.05% | ||
EIR | 3.30% p.a. on S$100,000 | 2.45% p.a. on S$100,000 | ||
Is it still worth putting your money in OCBC 360?
If you’ve already opened an OCBC 360 account and just applied for an OCBC credit card, this latest update can feel frustrating. The changes take effect from 1 August, so you still have one more month to enjoy the current rates.
Still, OCBC 360 has its advantages. Even if you don’t hit the minimum S$500 card spend, you’ll earn an effective 2.05% p.a. on S$100K just by meeting the Salary and Save criteria. In contrast, UOB One would only give 0.05% p.a. without card spend.
But if you’re someone who can consistently meet all the requirements—including the card spend—then OCBC 360 offers 2.45% p.a., while UOB One edges it out slightly at 2.68% p.a..
That said, we seem to be stuck in a cycle—chasing high-yield accounts, only to see the rates cut not long after. I wouldn’t be surprised if UOB follows OCBC’s move soon. And while UOB One technically offers better returns than OCBC 360 after this nerf, I’m holding off on recommending it for now.
OCBC 360 Account
Use Code: VHW8FDOS
Get competitive interest rates by crediting your salary, saving, or spending at least S$500 monthly.
Other Alternatives To Consider:
As I’ve mentioned before, interest rates are on a downward trend—and it’s something we’ll need to adapt to. One approach is to segregate your funds: park your emergency savings in Singapore Savings Bonds or T-Bills, and keep only your liquid spending money in bank accounts.
But if you’re not keen on SSBs or T-Bills—especially with their yields also dropping—you’ll need to explore options with slightly more risk to earn better returns.
I’ll be sharing more of such alternatives soon, including the Longbridge promotion, which has just been extended till July. With a few simple steps, the returns from that promo can easily outperform any high-yield savings account over the next 3 months.
Conclusion:
OCBC is making another round of interest rate cuts to the 360 Account, just a few months after the last change. This update affects the main bonus categories—Salary, Save, and Spend—while the Invest and Insure categories stay the same. With these changes, it’s a good time for you to review whether the 360 Account still suits your savings goals, or if other options could give better returns.
