Nerfed: OCBC 360 to Drop Interest Rates From 1st May 2025
The inevitable has happened: OCBC has announced a drop in interest rates in popular savings account OCBC 360. From 1st May 2025, the effective interest rate will fall from a maximum achievable 4.65% p.a. rate to 3.30% p.a. for S$100,000 of balance.
Max effective rate to drop to 3.30% p.a.
| Current (p.a.) First S$75,000 / Next S$25,000 | New (p.a.) First S$75,000 / Next S$25,000 | |
| Base Interest | 0.05% | 0.05% |
| Salary | 2.00% / 4.00% | 1.60% / 3.20% |
| Save | 1.20% / 2.40% | 0.60% / 1.20% |
| Spend | 0.60% | 0.50% |
| Max Possible | 4.65% | 3.30% |
The maximum possible interest rate is now 3.30% p.a. if you fulfil Salary, Save, and Spend requirements as well as have a balance of S$100,000. S$100,000 would get roughly S$387.50 per month of interest until the change, where it will drop to around S$275.
For balances of S$75,000 and under, the maximum rate is 2.75% p.a, down from 3.85% p.a.
Grow interest falls from 2.40% p.a. to 2.20 p.a, requires S$250,000
From 1st May 2025, OCBC 360’s Grow category will also drop from 2.40% p.a. to 2.20% p.a. The amount needed will increase to S$250,000, up from the current S$200,000.
This hasn’t been quite attractive before, with depositors needing to put S$200,000 to get 2.40% p.a. only on the first S$100,000. The change will make this an even less attractive category to fulfil.
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As one of the few high yield savings account left, it’s definitely sad to see that rates have been cut. To OCBC’s credit, they seem to have held off for as long as possible. UOB and StanChart have long cut their rates long ago (StanChart even doing it twice) and OCBC maintaining its rates for as long as they did is a pretty admirable thing.
Like it or not, life goes on, and our only move forward is to keep on looking out for ways to earn more from our credit cards, savings account, and other personal finance instruments. Stay subscribed for more savings deals and comparisons coming soon.
See more details on OCBC 360’s revision here.
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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