Revised Rate for OCBC 360 Account

After news on ANZ revised rate for the travel$ cash rebate, OCBC also release statement that they will revised the interest rate for OCBC 360 Account.

If you are 360 Account holder, you must have heard by now. OCBC 360 offered maximum interest rate (up to $50k) of 3.05%, which is one of the highest interest rate in Singapore. This translates to more saving for you to buy things for your little ones!

With effect from 1 May 2015, OCBC will revise their interest rate and the criteria for 360 Account. The amendments are shown in figure below:

1. Salary Bonus Interest remain the same. With this, OCBC will still rewards their customer who credited their income with the bank, which easily might make this account as their “primary” account for their daily activities.

2. Payment Bonus interest reduce to 0.5%.

3. Total accumulate spending increase from $400 to $500, but the interest reduce to 0.5%. If you are holding 365 credit card, this might not have impact because OCBC 365 credit card require minimum spending of $600 to enjoy the promotional rate.

With these 3 categories, the total interest rate is 2.05%. However, OCBC promises to have 2 more categories in which the total interest rate will be more than 3%. In view of this, Baby Shop SG still recommend you to keep 360 account, and wait until OCBC release the statement. We will keep you updated.

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