Before the OCBC 360 Account is able to cement its place as one of the highest yielding savings instruments, OCBC has announced another round of interest rate revision for this prized savings account that will take effect from 1 July 2020. You may also wish to refer to the OCBC notice for more information.
This article aims to provide an overview of the upcoming alteration, how the existing account holders may be affected by the revision and to find out where else to park your funds so as to ensure that they are still working hard for you.
Revision of Interest Rates for OCBC 360 Account from 1 July
A 180 degree reversal from the upward adjustment in May, OCBC will be halving the interest rate awarded for salary crediting as above. Furthermore, bonus interest related to credit card spending will no longer be offered from 1 July. The Save Bonus (achieved through monthly incremental average daily balance)