OCBC will revise interest rates from May 2025 for the 360 Account. OCBC 360 bank account is a high interest savings account in Singapore that offers customers a variety of benefits and features. With this account, customers can earn higher interest rates on their savings by fulfilling certain conditions, enjoy cashback rewards with the OCBC 360 credit card, and more.
Why is OCBC revising the interest rates? If you did not follow the updates from my previous post, Singapore Overnight Rate Average (SORA) interest rates have been dipping over the past few months. In line with prevailing market conditions, OCBC will revise interest rates for the 360 Account on 1st May 2025.
On 13th March 2025, Singapore Overnight Rate Average (SORA) fell to 2.0822 per cent. This was the lowest since December 2022. What is SORA? SORA is the volume-weighted average rate of unsecured overnight interbank SGD transactions in Singapore. In Singapore, bank interest rates, particularly for loans and savings products such as fixed deposits, are being determined by SORA.
The base interest of 0.05% a year on the OCBC 360 bank account balance remained unchanged and 360 account holders will continue to earn this base interest regardless of whether you met the below bonus categories.
| Bonus Interest Categories | First S$75,000 (a year) | Next S$25,000 (a year) |
| Salary Credit your salary of at least S$1,800 through GIRO/FAST/PayNow via GIRO/PayNow via FAST. |
1.60% | 3.20% |
| Save Increase your account balance by at least S$500 monthly. |
0.60% | 1.20% |
| Spend Charge at least S$500 to selected OCBC credit cards* each month. |
0.50% | |
| Insure Buy a selected insurance product from OCBC. |
1.20% | 2.40% |
| Invest Buy a selected investment product from OCBC. |
1.20% | 2.40% |
| Grow Maintain an average daily balance of at least S$250,000. |
2.20% | |
The qualifying criteria for the Grow bonus category will also be revised to S$250,000 (previously $200,000). For more information on the revision, please refer to Personal Banking Notices | OCBC Singapore.
CIMB is the first bank that I received notice that they will revise their interest rates. With OCBC being the second bank to follow suit, what about the other bank accounts that I have? Let us find out below.
UOB Stash Account Interest Rate
UOB Stash Account interest rates remained unchanged. I continue to earn 5.00% per annum for the next S$30,000 above S$70,000.
| Monthly Average Balance | Base interest (p.a.) | Bonus interest (p.a.) | Total interest (p.a.) |
| First S$10,000 | 0.05% | 0.00% | 0.05% |
| Next S$30,000 | 0.05% | 1.95% | 2.00% |
| Next S$30,000 | 0.05% | 2.95% | 3.00% |
| Next S$30,000 | 0.05% | 4.95% | 5.00% |
| Above S$100,000 | 0.05% | 0.00% | 0.05% |
GSX Digital Bank
The GSX main account pays an interest rate of only 2.08% per annum. However, the GSX saving Pockets earn you 2.38% per annum. The interest rate from the Boost Pocket was reduced from the previous 2.88% per annum to 2.78% per annum.
My Thoughts on OCBC Revise Interest Rates from May 2025
Under the prevailing weak interest rates market conditions, I am expecting other banks to also cut the interest rates for their saving accounts. Recently, I just open a GSX digital bank account, and I was surprised that GSX reduced the interest rates for their Boost Pocket that soon.
I will not be providing updates on the revision of the interest rates of savings account from other banks unless I have an account with them.
As of now, I will think the best place to park my money is in UOB Stash.
Disclaimer: This is Not a sponsored post, and the opinions are solely based on My Sweet Retirement’s own research and opinion.