OCBC 360 Review: Maximum interest rate cut from 5.45% p.a. to 4.45% p.a. from May 2026

What happened?

The OCBC 360 Account remains one of the more popular savings accounts in Singapore for those who credit their salary, save, and spend regularly.

While the current rates still apply in April 2026, OCBC has announced that the 360 Account interest rates will be revised from 1 May 2026, with the maximum interest rate on the first S$100,000 lowered to 4.45% p.a. and no change to the qualifying criteria.

With lower rates coming next month, many savers may be wondering if the OCBC 360 Account is still worth considering.

To assess whether it is still competitive, I’ll take a closer look at how the OCBC 360 Account works, how you can make the most of it, and what will change from 1 May 2026.

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.

For now, the current OCBC 360 structure remains in place in April 2026. However, OCBC has announced that the interest rates for the account will be revised from 1 May 2026, even though the qualifying criteria for the bonus categories will remain unchanged.

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?

As of April 2026, the OCBC 360 Account offers up to 2.45% p.a. effective interest on the first S$100,000 when you meet the three core categories of Salary, Save, and Spend.

You can earn an additional 3.00% a year when you insure and invest with your OCBC 360 account. That brings the maximum effective interest rate to 5.45% p.a. on the first S$100,000 under the current rate structure.

Note that you will earn a base interest of 0.05% a year on your entire account balance regardless of whether you fulfil the below 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 2 April 2026:

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

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

However, OCBC has already announced that the 360 Account interest rates will be revised from 1 May 2026. Here’s a look at what will change.

How will OCBC 360 Account interest rates change from 1 May 2026?

From 1 May 2026, OCBC will revise the OCBC 360 Account interest rates. 

The biggest change is that the maximum effective interest rate on the first S$100,000 will be lowered from 5.45% p.a. to 4.45% p.a., although the qualifying criteria for the bonus categories will remain unchanged.

What stands out is that the revision does not affect every category in the same way.

Under the revised structure, the Salary bonus will be reduced to 1.00% on the first S$75,000 and 2.00% on the next S$25,000. 

The Save bonus higher 0.80% step-up on the next S$25,000 appears to be removed, leaving it to be a flat 0.40% rate across the first S$100,000.

The Spend bonus will be reduced to 0.25% p.a., while the Insure and Invest bonuses will be reduced to 1.00% on the first S$75,000 and 2.00% on the next S$25,000 for 12 months. 

Lastly, the Grow bonus will be lowered from 2.00% to 1.20%.

OCBC will also continue to pay a base interest rate of 0.05% p.a., and has stated that there is no change to the qualifying criteria for the bonus interest categories.

Based on OCBC’s current published effective interest rates and the revised bonus-rate notice, here is how the account may look from 1 May 2026.

Based on the revised table, the new maximum effective interest rates appear to be approximately:

• Salary + Save: 1.70% p.a.
• Salary + Save + Spend: 1.95% p.a.
• Salary + Save + Spend + Insure / Invest: 3.20% p.a.
• Salary + Save + Spend + Insure + Invest: 4.45% p.a.

This means the OCBC 360 Account is set to become less attractive from 1 May 2026, especially for those relying on the core Salary, Save and Spend categories rather than the higher-paying Insure and Invest bonuses. 

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 5.45% per annum as of April 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, you need to purchase a minimum amount of S$2,000 for Regular Premium: Protection/Legacy product, S$4,000 for Regular Premium: Endowment/Retirement product or S$20,000 for Single Premium Insurance product.

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.

From 1 May 2026, the way to earn the maximum rate will remain broadly the same, because there is no change to the qualifying criteria for the bonus interest categories. However, the maximum effective interest rate on the first S$100,000 will be lowered to 4.45% p.a. instead.

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.

UOB One vs OCBC 360 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.

This is especially so after the DBS Multiplier account was made simpler with effect from 1 August 2023. 

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. 

One important thing to note is that this comparison is based on the current April 2026 structure for the OCBC 360 Account.

From 1 May 2026, the OCBC 360 Account may still come out ahead for balances around S$100,000, but its edge is likely to narrow. 

At lower balances below S$50,000, DBS Multiplier may look more competitive, while at higher balances above about S$120,000, UOB One may start to pull ahead again.

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 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 a 1-year Disney+ Premium subscription worth S$189.98.

For new customers, the Disney+ redemption code will be emailed by the 15th working day of the following month.

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

Final verdict on OCBC 360 account

The OCBC 360 Account remains one of the more attractive savings accounts in Singapore in April 2026.

If you are able to credit your salary, increase your average daily balance by at least S$500 a month, and spend at least S$500 on an eligible OCBC credit card, this allows you to earn up to 2.45% p.a. on the first S$100,000.

However, the hurdle is fairly high to get to the interest rate tier of 5.45% per annum unless you invest and insure with OCBC. 

This is also worth keeping in mind because OCBC will revise the 360 Account interest rates from 1 May 2026. While the qualifying criteria will remain unchanged, the maximum rate will be lowered to 4.45% p.a. on the first S$100,000, and the core bonus rates will become less generous.

That said, the OCBC 360 Account still looks most compelling for those who are already able to meet the Salary, Save and Spend categories, and who are focused on 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 the higher rate than the latest Singapore Savings Bond.

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. 

To find out other ways to make your savings work hard, check out our guide to best ways to earn a passive income in Singapore.

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