Nerfed: OCBC 360 Cuts Rates (Again) From 1st August 2025

Citing lower interest rate expectations, OCBC is revising interest rates for the 360 Account on 1 August 2025. This follows its last rate drop just a few months ago which took effect 1st May 2025.

Thanks i.am.somewhere for highlighting

Effective rate drops to 2.45% p.a. for S$100,000

	Current (p.a.) First S$75,000 / Next S$25,000	From 1st August 2025 (p.a.) First S$75,000 / Next S$25,000
Base Interest	0.05%	0.05%
Salary	1.60% / 3.20% (2.00% p.a. on S$100,000)	1.20% / 2.40% (1.50% p.a. on S$100,000)
Save	0.60% / 1.20% (0.70% p.a. on S$100,000)	0.40% / 0.80% (0.50% p.a. on S$100,000)
Spend	0.50%	0.40%
Max Possible	2.75% p.a. on S$75,000 3.30% p.a. on S$100,000	2.05% p.a. on S$75,000 2.45% p.a. on S$100,000

Without investment or insurance products, the maximum effective interest rate possible will be 2.45% p.a.

Invest, Insure, and Grow categories largely unchanged

	Current (p.a.) First S$75,000 / Next S$25,000	From 1st August 2025 (p.a.) First S$75,000 / Next S$25,000
Insure	1.20% / 2.40% (1.50% p.a. on S$100,000)	1.20% / 2.40% (1.50% p.a. on S$100,000)
Invest	1.20% / 2.40% (1.50% p.a. on S$100,000)	1.20% / 2.40% (1.50% p.a. on S$100,000)
Grow	2.20% p.a.	2.00%

The rates for bonus categories Insure, Invest, and Grow are largely unchanged, with the first two categories maintaining the current rates and Grow dropping to 2.00% p.a.

I’ve always warned people to do their due diligence before buying any financial product from banks, and this still holds true. You often end up paying more in fees than the bonus interest you will receive.

There is, however, a possibility that investment products without lock-in that may make sense and I intend to take a deeper look at this possibility. Stay subscribed for details.

See OCBC’s notice here.

2.45% p.a. is really quite unattractive for a “high yield savings account”

At 2.45% p.a., the bank is stretching the definition of a “high yield” savings account. Such a high profile drop to interest rates, however, usually leads to other banks following suit.

I personally prefer to wait for things to settle (i.e. nearer to 1st August 2025), before making any move. Stay subscribed for updates to navigate through the lowering of rates and find alternatives for the best returns on our savings.

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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