Revision of interest rates on 360 Account

LATEST UPDATE

Dear 360 Account holder,

We wish to inform you that, on 1 February 2021, we will be revising the interest rates for the OCBC 360 Account. If and when the interest rate situation improves, you may be assured that we will adjust our product offerings accordingly.

We thank you for your support.

Interest rates from 1 February 2021

Earn bonus interest (% a year) on the first S$75,000 of your account balance if you fulfil the requirements across any or all of these categories:

First S$25,000

Next S$25,000

Next S$25,000

0.3%

0.6%

1.2%

Salary  

Credit your salary of at least S$1,800 through GIRO.

First S$25,000

0.3%

Next S$25,000

0.6%

Next S$25,000

1.2%

0.1%

0.2%

0.4%

Save  

Increase your average daily balance by at least S$500 from the previous month.

First S$25,000

0.1%

Next S$25,000

0.2%

Next S$25,000

0.4%

0.3%

0.6%

1.2%

Insure  

Insure with OCBC Bank and earn this bonus interest for 12 months.

First S$25,000

0.3%

Next S$25,000

0.6%

Next S$25,000

1.2%

0.3%

0.6%

1.2%

Invest  

Invest with OCBC Bank and earn this bonus interest for 12 months.

First S$25,000

0.3%

Next S$25,000

0.6%

Next S$25,000

1.2%

0.4%

Grow  

Earn this extra bonus on the first S$75,000 if your account balance is S$200,000 and above.

First S$25,000

0.4%

Next S$25,000

0.4%

Next S$25,000

0.4%


You will earn a base interest of 0.05% a year on your entire account balance regardless of whether you fulfil the above categories.

How bonus interest works

Get higher interest as you continue to do more with us.

Salary + Save = 0.98% a year
Salary + Save + Insure or Invest = 1.68% a year
Salary + Save + Insure + Invest = 2.38% a year

Important notices

Deposit Insurance Scheme

Singapore dollar deposits of non-bank depositors and monies and deposits denominated in Singapore dollars under the Supplementary Retirement Scheme are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. Monies and deposits denominated in Singapore dollars under the CPF Investment Scheme and CPF Retirement Sum Scheme are aggregated and separately insured up to S$75,000 for each depositor per Scheme member. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.


FAQs
Common questions
When will the revised interest rates take effect?

The revised rates will be effective from 1 February 2021 where bonus interests for the month of February will be credited in your 360 Account on the 7th business day of March 2021.

Will the interest rates improve in the future?

If and when the interest rate situation improves, you may be assured that we will adjust our product offerings accordingly.

How will my bonus interest be affected if I purchased eligible wealth products before 1 February 2021?

Customers earning Insure/ Invest bonus interest for eligible wealth purchases purchased in on or before 31 January 2021 will earn the revised bonus interest rates with effect from 1 February 2021.

Customers’ Wealth Bonus will be revised according to the 3 scenarios illustrated below:

  • Scenario 1 – Customer with 1 existing insurance and 1 existing investment
  • Scenario 2 – Customer with 1 existing insurance and bought an eligible investment after 1 February 2021
  • Scenario 3 – Customer with 1 existing insurance and bought another eligible insurance after 1 February 2021

Scenario 1, for illustration purposes:

Mr Koh currently has 1 insurance (effective purchase month in October 2020) and 1 investment (effective purchase month in January 2021).

Mr Koh will be receiving Wealth Bonus for both his Insurance and Investment separately for the remaining respective cycles from January onwards.

Wealth Bonus for Insurance purchase From Oct 2020 to Jan 2021

First S$25,000 at 0.40%
Next S$25,000 at 0.80%
Next S$25,000 at 1.20%
From Feb 2021 to Sep 2021

First S$25,000 at 0.30%
Next S$25,000 at 0.60%
Next S$25,000 at 1.20%
Wealth Bonus for Investment purchase In Jan 2021

First S$25,000 at 0.40%
Next S$25,000 at 0.80%
Next S$25,000 at 1.20%
From Feb 2021 to Dec 2021

First S$25,000 at 0.30%
Next S$25,000 at 0.60%
Next S$25,000 at 1.20%

Scenario 2, for illustration purposes:

Mr Koh currently has 1 insurance (effective purchase month in October 2020) and purchased another eligible investment in February 2021.

Mr Koh’s Wealth Bonus will be awarded individually for his Insurance and Investment purchase in each of its 12-month period.

Wealth Bonus for Insurance purchase From Oct 2020 to Jan 2021

First S$25,000 at 0.40%
Next S$25,000 at 0.80%
Next S$25,000 at 1.20%
From Feb 2021 to Sep 2021

First S$25,000 at 0.30%
Next S$25,000 at 0.60%
Next S$25,000 at 1.20%
Wealth Bonus for Investment purchase From Oct 2020 to Jan 2021

N.A.
From Feb 2021 to Jan 2022

First S$25,000 at 0.30%
Next S$25,000 at 0.60%
Next S$25,000 at 1.20%

Scenario 3, for illustration purposes:

Mr Koh currently has 1 insurance (effective purchase month in January 2021) and purchased another eligible insurance in February 2021.

Mr Koh will enjoy 1 set of Wealth Bonus (Insure) till January 2022, following the 12-month period of his most recent purchase in February 2021.

Wealth Bonus for Insurance purchase In Jan 2021

First S$25,000 at 0.40%
Next S$25,000 at 0.80%
Next S$25,000 at 1.20%
From Feb 2021 to Dec 2021

First S$25,000 at 0.30%
Next S$25,000 at 0.60%
Next S$25,000 at 1.20%
Wealth Bonus for 2nd Insurance purchase From Feb 2021 to Dec 2021

N.A.
In Jan 2022

First S$25,000 at 0.30%
Next S$25,000 at 0.60%
Next S$25,000 at 1.20%