Nerfed: OCBC 360 Reducing Interest Rates From 1st May 2026
In an email sent to accountholders, OCBC has announced a revision of interest rates for their flagship OCBC 360 savings account. Rates are revised downwards from 1st May 2026, marking a third rate drop in the past 12 months.
You can use the comparison calculator below to see the impact on different savings amounts.
Interest Tiers
| Current First S$75,000 / Next S$25,000 | From 1st May 2026 First S$75,000 / Next S$25,000 | |
|---|---|---|
| Base Interest | 0.05% p.a. | 0.05% p.a. |
| Salary | 1.20% / 2.40% p.a. | 1.00% / 2.00% p.a. |
| Save | 0.40% / 0.80% p.a. | 0.40% p.a. |
| Spend | 0.40% p.a. | 0.25% p.a. |
| Invest | 1.20% / 2.40% p.a. | 1.00% / 2.00% p.a. |
| Insure | 1.20% / 2.40% p.a. | 1.00% / 2.00% p.a. |
Realistic effective interest rate of 3.2% p.a.
With the rates revised downwards, the maximum effective interest is 4.45% p.a. (down from 5.45% p.a.), but only if you fulfill all 5 categories of Salary, Save, Spend, Invest, and Insure.
However, if we ignore the Insurance category, which I wouldn’t personally touch, the effective interest rate would be 3.2% p.a. (down from 3.95% p.a.)
Alternatives
The ground (and interest) is shrinking beneath high-yield savings accounts, but there are still alternatives to be found. You can check out a comparison calculator here:
Sign-up offer
OCBC 360
Earn up to a realistic 3.2%% p.a. interest on S$100,000 of savings.
🎁 Sign-up Promo
Sign up for a new account from 1st July to 30th September 2026 and credit your monthly salary of at least S$1,800 by the following month to enjoy.
- New-to-OCBC customers: Get S$60 cash reward
- Existing OCBC customers: Get S$30 cash reward when you open a new 360 Account
Fall-below fee is waived for the first year.
Use code 0PGAGDOS
⚠️ Terms and Conditions
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For reference only; refer to exact details in terms and conditions
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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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