OCBC 360 savings account max interest rate to be cut from 5.45% to 4.45% from May 1, 2026

OCBC Bank is cutting the maximum interest rate for its OCBC 360 Account with effect from May 1, 2026 in line with lower rate expectations.

The bank informed customers via e-mail on Mar. 31.

This marks the the first time in 2026 that OCBC is cutting the maximum effective interest rate.

Down to 4.45% per annum

Currently, the first S$100,000 in OCBC's flagship savings account can earn up to 5.45 per cent per annum.

It will earn 4.45 per cent per annum when the cut kicks in.

Maximum effective interest rate was cut twice in 2025.

OCBC added that it is "keeping all bonus interest criteria unchanged".

How to qualify for max interest rate

The maximum effective interest rate can be earned by crediting a salary of at least S$1,800, spending at least S$500 on selected credit cards, increasing the average daily balance by at least S$500 monthly, buying an eligible insurance product, and buying a selected investment product.

The bank added that the base interest rate of 0.05 per cent a year on the account balance remains unchanged and can be earned without fulfilling the various categories.

Rate cut expected

In a Mar. 19 note, OCBC group research head of foreign exchange and rates strategy Frances Cheung said the bank still expected one 25 basis point cut in the U.S. Fed funds rate in the third quarter of 2026.

When interest rates fall, the interest banks earn from loans and the interest they pay on deposits becomes smaller and so banks earn less from customer deposits.

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