OCBC 360 Review: Earn interest rate of up to 4.70% p.a.

What happened?

OCBC has raised the Save bonus interest rate for the OCBC 360 Account for a limited period.

From 1 August to 31 December 2026, you can earn up to 2.20% p.a. on the first S$100,000 when you credit your salary, increase your average daily balance and spend on an eligible OCBC credit card.

This is higher than the usual effective interest rate of 1.95% p.a. for meeting the same three categories.

You can also earn a higher effective interest rate of up to 4.70% p.a. on the first S$100,000 if you also insure and invest with OCBC.

However, the higher Save bonus is temporary and you will need to increase your average daily balance by at least S$500 compared with the previous month.

In this article, I will look at how the OCBC 360 Account works, how much more interest the promotion offers and whether it is still worth considering.

What is the OCBC 360 account?

The OCBC 360 account is OCBC’s flagship savings account that rewards you with higher interest when you carry out everyday banking activities such as crediting your salary, saving regularly, and spending on an eligible OCBC credit card. 

Instead of offering one flat interest rate, the account gives different bonus interest rates depending on which categories you are able to fulfil.

These bonus categories include Salary, Save, Spend, Insure, Invest, and Grow. This means you can earn more interest not just by using the account for day-to-day banking, but also by buying eligible insurance or investment products from OCBC, or by maintaining a higher account balance. 

You will also continue to earn a base interest rate of 0.05% p.a. on your account balance regardless of whether you meet any bonus categories.

As OCBC’s flagship savings account, the 360 Account rewards you for everyday banking behaviour but you’ll need to meet certain criteria to unlock the higher interest rates.

What is the interest rate on the OCBC 360 account?

The OCBC 360 Account now offers up to 1.95% p.a. on the first S$100,000 when you meet the three core categories of Salary, Save and Spend.

You can earn an additional 2.50% p.a. when you insure and invest with OCBC, bringing the effective interest rate to 4.70% p.a. on the first S$100,000.

You will also earn a base interest rate of 0.05% p.a. on your account balance regardless of whether you fulfil any of the bonus categories.

Like the UOB One account and DBS Multiplier account, the OCBC 360 account offers a tiered interest rate depending on the amount of deposit in the account and your ability to meet different categories. 

These categories include the following:

• Salary: Credit your salary of at least S$1,800 through Giro

• Save: Increase your average daily balance by at least S$500 monthly

• Spend: Charge at least S$500 to selected OCBC credit cards each month

• Insure: Purchase an eligible insurance product from OCBC

• Invest: Purchase an eligible investment product from OCBC

• Grow: Maintain an average daily balance of at least S$250,000

The interest rate you are able to earn on the OCBC 360 account will then depend on how many of these categories you are able to meet. 

We can look at the effective interest rate (EIR) earned on the OCBC 360 account across various tiers. To calculate the effective interest rate, we can add the total interest received across different tiers.

The effective interest rate is the average interest rate you would get by dividing the total interest earned by your average balances.

Below is the maximum EIR as of 4 August 2026:

You will still earn a base interest of 0.05% p.a. on your account balance regardless of bonus category fulfilment.

The promotional Save bonus rate applies from 1 August to 31 December 2026. Outside the promotional period, the Save bonus is normally 0.40% p.a. on both the first S$75,000 and next S$25,000.

This would mean that the maximum effective interest rates for meeting each criteria will be the following:

This means the OCBC 360 Account is still more rewarding for users who can fulfil multiple categories.

How much interest can I earn with salary, saving and spending with the OCBC 360 account?

The most relevant combination for many account holders is likely to be Salary, Save and Spend.

During the promotional period, the effective interest rate is:

The rate is higher on the portion between S$75,000 and S$100,000 because both the Salary and promotional Save bonus rates are higher for this tier.

How do I earn the maximum interest rate on the OCBC 360 account?

If you are able to hit the salary, save, spend, insure and invest categories and have S$100,000 of deposits in the OCBC 360 account, you will earn the maximum effective interest rate of 4.70% per annum as of August 2026. 

The insure and invest categories will be harder to hit, which is why you get a much higher interest rate if you are able to fulfil them!  

To qualify for the insurance and/or investment interest rate, you will need to purchase an eligible product from OCBC. The keyword here is eligible and it comes with a price tag.

For insurance, the minimum qualifying amount starts from S$2,000 in annual premium for selected regular premium protection, legacy or investment-linked policies. For single premium insurance, the minimum qualifying amount is S$20,000.

For Investment, you need to purchase a minimum amount of S$20,000 for Unit trusts and structured deposits or S$200,000 for bonds and structured products.

You should note that the financial products you buy will only qualify for 12 months of bonus interest. 

This means that you will need to buy another financial product after the 12 months is up. The question you’ll have to ask yourself is whether you’d want to buy another insurance product next year.

What are the requirements for the OCBC 360 account?

To apply for the OCBC 360 account, you will need to be at least 18 years old. 

You will need to make an initial deposit of S$1,000 and maintain a minimum average daily balance of S$3,000. 

A fall-below fee of S$2 will be imposed if your minimum average daily balance falls below S$3,000. However, the good news is that the fall-below fee will be waived for the first year.

OCBC 360 vs UOB One vs DBS Multiplier – Which is the best savings account in Singapore? 

Many of you are probably wondering if the OCBC 360 account is better than the UOB One account and DBS Multiplier account.

As there are many tiers involved, we have done the math to find out which is the best savings account in Singapore.

Our calculation is based on a few assumptions – 

1. You do not buy insurance/investment products from the Bank
2. You save and/or spend at least S$500 respectively a month and
3. You credit your monthly salary into the bank
4. You spend the minimum amount with their credit cards

Here, we  can see which bank offers the best interest rate across the various balance amount shown below. 

Are there any sign-up promos for the OCBC 360 account?

If you are opening an OCBC 360 account, you can enjoy a welcome perk depending on whether you are new to OCBC or already banking with them.

• New-to-OCBC customers: Credit a salary of at least S$1,800 into your 360 Account by the next month after account opening, and you’ll get S$60 cash reward.
• Existing OCBC customers: Open a new 360 Account, credit a salary of at least S$1,800 into your 360 Account by the next month after account opening, and you’ll get S$30 cash reward.

The promotion runs from 1 July to 30 September 2026.

Read the full T&Cs here. 

How to open a OCBC 360 Account

You can open a savings account online here, or head down to a OCBC branch.

To apply you will require the following:

• Singaporeans and Singapore PRs: NRIC and an image of your signature
• Foreigners: Passport and a valid pass (e.g. Employment Pass (EP) or S-Pass or Student Pass) 

In addition, you will need any one of the following documents that shows your residential address

• Phone bill
• Half-yearly CPF statement
• Any bank statement

What would Beansprout do?

If I have around S$100,000, can credit my salary and already spend at least S$500 on an eligible OCBC credit card, I would consider the OCBC 360 Account during the promotional period.

The 2.20% p.a. effective rate is competitive, especially as I do not need to purchase an insurance or investment product to receive it.

However, I would pay close attention to the Save requirement.

I would need to keep increasing my average daily balance every month, and any amount above S$100,000 would generally earn only the base interest rate.

The promotion also ends on 31 December 2026, after which the Salary, Save and Spend rate is expected to return to 1.95% p.a. unless OCBC introduces another promotion.

Also, the hurdle remains high if you want to earn the higher rate of 4.70% p.a..

That is because you would also need to insure and invest with OCBC, and these categories require you to purchase eligible financial products.

I would not buy an insurance or investment product just to earn more interest on a savings account. Instead, I would only consider these categories if the products are already suitable for my needs.

That said, the OCBC 360 Account still looks most compelling if I am able to meet the Salary, Save and Spend categories for balances of up to S$100,000.

The interest rate offered by the OCBC 360 account is also higher than the latest T-bill and it has a higher rate than the latest Singapore Savings Bond during the first year.

Like many other savings accounts in Singapore, the interest rate on the OCBC 360 accounts falls to 0.05% per annum for the portion of your monthly average balances above S$100,000. 

To maximise your interest earned, you might want to consider another high yield savings account for balances above S$100,000.

If you are deciding where to park your cash, you can also explore how the OCBC 360 Account fits into the broader Liquidity Pot within Beansprout's Four Pot of Wealth, alongside fixed deposits, Singapore T-bills and Singapore Savings Bonds here and money market funds.

But once you’ve already set aside enough cash to cover your safety buffer and upcoming expenses, putting every extra dollar into savings accounts may not be the most efficient way to grow your wealth. 

At that point, it can be worth exploring longer-term options like diversified investments that have a better chance of outpacing inflation over time.

For a more structured way to organise your investments and wealth, you can read our guide to the Four Pots of Wealth, as well as our beginner’s guide to start investing in Singapore.

To explore ways to grow your money beyond savings accounts, check out our guide to best ways to earn a passive income in Singapore.

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