I am not at all surprised of the changes to the interest rate for OCBC 360 now. From3.05% during their first introduction to 2.25%  (2 years back), this latest change that is going to happen on 1 April 2017 will result in only 1.85% for me. I will explain why it is probably time for me to say goodbye to OCBC.

Let’s start with the changes:

Bonus 1) The amount of money that can earn interest has increased

Old Up to $60,000

New Up to $70,000

Bonus 2) Credit at least $2000 salary to the account

Unchanged 1.2% interest

Bonus 3) Pay any 3 bills via giro

Old 0.5% interest

New 0.3% interest and with at least $150 in total value

Bonus 4) Spend at least $500 on OCBC credit cards

Old 0.5% interest

New 0.3% interest

Bonus 5) Insure or invest with OCBC

Old 1% interest

New Up to 1.2% bonus interest paid for 12 months …