OCBC 360 interest rate

2022 - 8 - 31

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Image courtesy of "The Business Times"

OCBC raises interest rates on 360 account; up to 4.05% a year on ... (The Business Times)

OCBC Bank will be raising interest rates on its flagship 360 savings account from Thursday (Sep 1), as it joins other local banks in account revisions amid ...

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Image courtesy of "The Straits Times"

OCBC raises interest rates on 360 account; up to 4.05% a year on ... (The Straits Times)

SINGAPORE - OCBC Bank will be raising interest rates on its flagship 360 savings account from Thursday (Sept 1), as it joins other local banks in account ...

UOB also increased rates on its One Account for a new tier of balances above $75,000 and up to $100,000. Account holders who spend at least $500 each month on the OCBC 365 credit card can earn up to 0.35 per cent a year of bonus interest. [increased rates for its Multiplier account,](https://www.straitstimes.com/business/banking/dbs-raises-interest-rates-on-its-flagship-savings-account) which means that its customers can now earn a maximum of 3.5 per cent a year, up from 3 per cent previously, for balances of more than $50,000 and up to $100,000. From Sept 1, OCBC is also including a new account balance tier, with the maximum balance on which customers can earn bonus interest rates rising from $75,000 to $100,000. This brings it in line with the changes introduced by other local banks to offer higher interest rates on balances of up to $100,000. Prior to this, account holders could earn a maximum of 2.38 per cent a year of interest on balances of up to $75,000.

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Image courtesy of "Mothership.sg"

OCBC raises 360 account interest rates for the first time since 2021 (Mothership.sg)

OCBC said that the total bonus interest comes up to 4.05 per cent.

With regard to the reinstatement of the "Spend" category, OCBC said that customers can earn interest rates of up to 0.35 per cent annually by spending at least S$500 on their OCBC 365 credit cards. OCBC also highlighted that for customers who continue to credit a salary of at least S$1,800 into their account by GIRO and saving at least S$500 more than the previous month, customers can earn bonus interest of up to 1.5 per cent per annum, up from 0.98 per cent per annum previously. A new account balance tier has also been included and the maximum account balance that customers can earn bonus interest rates on has been increased from S$75,000 to S$100,000. As for customers who perform transactions in the bonus interest categories of Salary, Save, Wealth (Insure), Wealth (Invest) and Spend, they can earn bonus interest of up to 4.05 per cent per annum on the first S$100,000 in their bank account. For example, crediting their salary into the account will now earn up to 1.1 per cent interest per annum, while saving S$500 more a month will earn up to 0.35 per cent per annum. In addition, the "Spend" bonus interest category has been reinstated for customers who spend S$500 on the OCBC 365 credit card.

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Image courtesy of "CNA"

UOB joins local banks in raising interest rates for savings accounts (CNA)

UOB's move comes on the heels of a similar announcement by OCBC this week amid a rising interest rate environment.

Like those offered by other local banks, the Multiplier account offers tiered interest rates based on customersโ€™ account balances. These are the bankโ€™s flagship products, with one in four 360 account holders having a 365 credit card, according to Ms Tan. We also serve our customers Insights card to alert them on how they can reach the next level and earn more interest,โ€ said the bankโ€™s head of group personal financial services Jacquelyn Tan. 0.05% 2.5% 0.25% Min S$500 card spend There are no changes to interest rates under this category for balances above S$60,000. This is up from a 3 per cent promotional rate introduced this month. S$500 card spend + min S$1,600 salary

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