Nerfed: HSBC Removing Everyday+ Rewards Programme Bonus Interest of 1% p.a. From July 2026
Eagle-eyed Telegram member IT has pointed out that HSBC has put out a notice on their website that the Everyday+ Rewards Programme will remove the 1% p.a. bonus interest from 1st July 2026.
On top of that, the bank will also be reducing the prevailing interest rate for HSBC Everyday Global Account to 0.01% p.a. from July 2026 onwards. And I thought 0.05% p.a. was bad enough.
Final month to collect 1% p.a. bonus interest in June
For the longest time, HSBC EGA accountholders have been able to collect 1% p.a. bonus interest through the Everyday+ Rewards Programme by accomplishing a few simple requirements. The bonus interest stacks with monthly HSBC EGA promos, making the effective yield much more attractive.
It will no longer be possible the bonus interest from 1st July 2026, making June 2026 the final month to do so.
To qualify:
- Deposit a minimum of S$2,000 (or S$5,000 for Premier customers) in the HSBC EGA Account
- Make at least 5 transactions
These 5 transactions can be credit/debit card transactions or even FAST/PayNow transactions to other bank accounts. See the terms and conditions here.
HSBC Everyday+ Rewards programme’s cashback maxes out at S$300 per month, and this is reached with an average daily balance (ADB) of around S$365,000 in a 30-day month like June.
On April or May 2026 EGA promos?
If you’re on April or May 2026 EGA promos, note that the HSBC EGA Promo calculator I did will need to be revised to reflect the changes from July 2026. Will update it soon, so stay subscribed for updates.
The HSBC EGA calculator for April and May 2026 promos has been updated:
Other bank accounts to look at
You can compare different bank accounts here:
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Interest rates of bank accounts are increasingly getting unattractive, and I’ve been meaning to do an update on what I’m doing with my cash savings for mid-2026 and beyond. Stay subscribed to the Telegram or WhatsApp for that, especially if you’re someone who wants to earn more from credit cards, savings accounts and other financial deals. Remember to unmute and turn on notifications or the updates may not reach you.
Seth Wee was a licensed financial adviser representative from 2009 to 2025, with over 16 years of experience in Singapore’s financial advisory industry.
He started Sethisfy.com in 2019 to share practical insights on credit cards, banking products, and miles strategies, helping readers identify financial products that deliver the best value. Seth has been featured in CNA, Channel 8, Today, and a host of other publications. In 2025, he was also part of a panel at CPF’s Ready For Life festival.
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