Guide: How to Get 4.65% P.A. Interest With OCBC 360 Account

Maxed out your UOB One Account or just prefer OCBC? With as much as 4.65% p.a. possible, OCBC 360 isn’t too shabby an alternative, and here’s a guide on how you can maximise your interest from this account as easily as possible.

Step-by-step Guide

This is for those who can only control one OCBC 360 account. See also Player 2 Strategy if you are able to control two accounts.

1st Day of MonthMaintain S$95,000
(see What happens beyond S$100,000 for rationale)
1st Day of MonthDeposit S$500
(or S$520 if 1st day is a public holiday or Sunday)
During the monthCredit S$1,800 of salary
(withdraw salary on same day to avoid affecting average balance)
During the monthMake spending of at least S$500
(use CardUp/ipaymy to achieve this easily)
7th Working Day of Following MonthInterest is credited
(withdraw interest on same day to avoid affecting average balance)

4.2% p.a. returns: get early access to Chocolate Finance!

Subscribe to the Telegram for more great deals and updates. Prefer email or WhatsApp? Tap here.


Written review

Optimal bank balance

OCBC 360 gives the same interest rates for the first S$75,000 of bank balance. This means the interest rate you get with a S$10,000 balance and a S$70,000 one is identical.

Beyond bove S$75,000, it gives more interest to every dollar above this amount. Hence, the more you have in the account beyond S$75,000, the closer you are to hitting the optimal interest of OCBC 360.

S$100,000 will get you the maximum interest.

Account Monthly Average Balance (MAB)Salary + SaveSalary + Save + Spend
S$1 to S$75,0003.25% p.a.3.85% p.a.
S$75,001 to S$99,999Between 3.25% to 4.05% p.a.Between 3.85% to 4.65% p.a.
$100,0004.05% p.a.4.65% p.a.

Salary requirement

First S$75,0002.00% p.a.
Next S$25,0004.00% p.a.
Effective Interest Rate on S$100,0002.50% p.a.

Without meeting the Salary condition, the rates for OCBC 360 Account is quite poor. The Salary requirement only recognises transfers from corporate accounts tagged as Salary, so this might be easy for you to achieve if you have a corporate bank account.

Otherwise, there is no publicly known workaround this requirement. You will have to either credit your actual salary to this, or use a corporate account to complete this condition.

I would usually withdraw the salary out immediately so as not to affect my average account balance which is relevant to the Save requirement.

How to fulfil this: get your company to credit your actual salary of at least S$1,800, or use a corporate account to do so

Save requirement

First S$75,0001.20% p.a.
Next S$25,0002.40% p.a.
Effective Interest Rate on S$100,0001.50% p.a.

Save requirement needs you to increase your average monthly balance by S$500 from the previous month. Without this, the interest rates of OCBC 360 are not very ideal.

As the name suggests, average monthly balance takes the average of the amounts you have in the bank account. In a 30-day month, if your account has S$100,000 for 20 days, and S$80,000 for 10 days, your average is around S$93,333.

So assuming if your average balance is S$90,000 in the month of May, and you waited until 29th June to deposit S$500, your average monthly increase is only S$33.33. (Calculation: S$500 ÷ 30 days × 2 days = S$33.33)

Ideally, you will need to deposit S$500 on the first day of each month. There is some complication with this if the first day of the month is a Sunday or public holdiay, or if you deposit after 9PM. This is because the value date of the funds will now be on the next working day. If so you will need to deposit S$520 instead. The next time something like this will happen would be 1st October 2023 which is a Sunday.

Personally, I deposit around S$550 to S$600 each month so I don’t have to think too much about it.

How to fulfil this: deposit S$500 on the first day of each month before 9PM; S$520 if the first day is a public holiday or Sunday.

Spend requirement

First S$75,0000.60% p.a.
Next S$25,0000.60% p.a.
Effective Interest Rate on S$100,0000.60% p.a.

Spend requirement adds a flat 0.60% p.a. to your OCBC 360 account, and the account rates’ are pretty decent even without it. I imagine there might be some who just forgo this condition entirely and settle for a lower rate, but it’s actually quite easy to achieve.

I personally use either CardUp or ipaymy to accomplish my spend, and it has been recognised as eligible spend so far.

CardUp and ipaymy come with service fees, typically around 1.75 to 2.25% depending on the promo codes you use (tap here for first-time use discounts), but it is well worth it if your OCBC 360 bank balance is substantial enough. Besides, you can also get card rewards for the fee.

For a S$500 payment, you pay S$11.25 of service fees.

Additional 0.60% p.a. interest means you can get roughly S$25 more interest for a S$50,000 in your account, and obviously more when you have a higher balance:

Balance AmountApproximate Monthly Interest at 0.6% p.a.Net Interest After S$11.25 Fee

The bonus interest more than covers your fees, and don’t forget you also get rewards on the spend. I personally use OCBC 90°N which gives 1.3 miles per dollar, so I also get 650 or so miles on top of my bonus interest.

If your fee is 2.25%, you can also be a bit more “efficient” by paying S$489 which becomes S$500 after the fee is included. You can calculate the exact amount to pay by this formula: S$500 ÷ (1 + 2.25/100) where 2.25 should be changed to the fee you are paying.

How to fulfil this: use CardUp/ipaymy to pay S$500 using OCBC 90°N


OCBC 360 has a tracker that only appears when you log in to your OCBC account via a desktop browser.

It only tracks Salary and Save requirements. Spend requirement is not tracked here. The tracker is updated each day for the previous day.

What happens beyond S$100,000?

Once you hit S$100,000, you achieve the optimal interest rate of 4.65% p.a. for OCBC 360. However, owing to the Save requirement, you soon find yourself having to add S$500 every month to this S$100,000.

This isn’t ideal as amounts above S$100,000 get only 0.05% p.a. interest. When the amounts above S$100,000 is small, the opportunity cost is negligible, but it will soon grow to a significant amount.

You may thus want to start with a S$95,000 balance instead. This still gives you around 4.52% p.a. which isn’t too different from 4.65%, but gives you a 10-month period until you finally hit S$100,000.

“Resetting” the account is something you can explore when you hit more than S$100,000, or check out the Player 2 strategy below.


New HSBC Live+ offers 8% cashback and a great sign-up promo!

Subscribe to the Telegram for more great deals and updates.

Player 2 Strategy

If you can rope in someone like your spouse or family member to open another OCBC 360 Account, you can use a “Player 2 Strategy” to sidestep the Save requirement entirely. At the start of each month, simply transfer your entire balance from the first OCBC 360 Account (Account A) to the second one (Account B).

For instance, we have S$100,000 in Account A in January and accomplish all the steps. On 1st February, we should transfer the entire balance to Account B. Since the balance of Account B is S$0 for the month of January, Account B recognises all S$100,000 as an increase from the previous month. On 1st March, we now transfer the amount back to Account A and repeat the process.

This will allow you to get an optimal 4.65% p.a. interest without actually having to increase your balance amount by S$500 each month. The downside is that you have to alternate the Salary crediting and remember to put spend on the correct cardholder’s OCBC card each month.

Frequently asked questions

It’s the 8th day already and I still don’t see my interest!Interest is credited on the 7th working day which excludes weekends and public holidays. It can be credited as late as the 10th or 11th day of the month depending.
How do I know if my spending is eligible for the Spend requirement?Card spend that gets you rewards on the OCBC card you are using will be recognised as eligible spending for the OCBC 360 account.

Get rewards = counted; no rewards = not counted
Also please remember the eligible cards are: OCBC Titanium Rewards, OCBC NXT, OCBC 365, and OCBC 90°N
Does the UOB salary workaround work for OCBC 360?No.

So far only salary payments from corporate accounts work.

Keep up to date on the best cashback/mile cards, financial products, attractive deals, and more tips to maximise your financial wellbeing by subscribing to my Telegram channel.

Subscribe to the channel, then join the group chat. You would often benefit from the tips shared exclusively in the group chat!

Disclaimer: I may receive an affiliate/referral fee when you sign up for services/products on this site, and such fees keep the site running. I would only recommend services/products I would personally use or recommend to my own friends and family, but I do not provide any warranty or guarantee for the quality of these services/products. Thank you for supporting my site!

Please exercise due diligence when signing up for any service/product as I will not be liable for any personal loss, financial or otherwise. Content published here are my sole views and personal opinion, and none of the information here constitutes personal financial advice nor represents the views of my employer(s).

9 thoughts on “Guide: How to Get 4.65% P.A. Interest With OCBC 360 Account

  1. So complicated.. Just put 100k with uob, spend $500 on cc and credit salary. Effective interest is 5%

  2. Thanks sethisfy for the article.
    May I know if the Save requirements based on last month or last 30 days?

  3. OCBC TR works with CardUp and recognised in SPEND category?

    And at best only X1 OCBC$ base points right? Don’t think will get the full 4MPD

  4. what happens if the account exceed 100k- say 102k and i want to withdraw 2k that month? so that month i wont be entitled to the save interest bonus ? thank you

Leave a Reply