Given the low-interest-rate environment globally, it was surprising that OCBC 360 account increased its salary bonus in May 2020.
It was too good to be true.
Just recently, it backtracked on its May 2020 revision and will refresh the rates again in July 2020, aligning with expectations.
It got worse.
If you are not aware of OCBC 360, it is a high yield savings account. It awards bonus interest if you perform certain transactions or fulfil specific criteria.
I covered it in detail in my previous post on May 2020 revision on the high yield savings accounts offered by the three Singaporean banks.
Salary bonus: bonus interests has been halved from May 2020 rates.