OCBC 360 Account Review: Earn Effective Interest Rates of up to 6.3% p.a.

Are you a diligent saver who believes you should be rewarded for your financial discipline? In that case, the OCBC 360 Account might just be the right savings account for you. By crediting your salary to your account and saving at least S$500 per month, you'll be able to enjoy Effective Interest Rates (EIR) of 2.8% p.a. This goes up to a maximum of 6.3% p.a. when you spend, invest and insure with OCBC.

If you need extra motivation to stash your cash, let the OCBC 360 Account do the work for you by rewarding your good financial habits with extra interest.

» FIND OUT: Low-risk ways to grow your emergency stash

Overview:

The OCBC 360 Account gives you different ways to maximise your funds in your account balance. It’s a good fit for those with consistent spending and saving habits. Plus, you can raise your interest rates by growing your savings and purchasing insurance or investment products.

Qualifications:

• Singapore Citizen, PR or foreigner at least 18 years of age. Foreigners must possess a valid work or student pass.

How to apply:

• Apply online with the OCBC app and SingPass MyInfo, or visit your nearest OCBC branch office.

Fees and charges:

• Fall-below fee: S$2 (Waived for your first year.)

• Cheque book fee: S$10

Disclaimer:

Rates and terms are subject to individual credit assessment and bank approval.

Overview:

Working professionals who consistently spend at least S$500 monthly can leverage their UOB One Account for earning interest, 3% cashback on daily essentials and paying bills through GIRO. 

Qualifications:

• Singapore Citizen, PR or foreigners 18 years of age or above.

How to apply:

• Apply online via UOB’s website or by visiting your nearest UOB branch office.

Fees and charges:

• Fall-below fee: S$5 (Applies if your monthly average balance dips below S$1,000)

• Early account closure fee: S$30 (Within 6 months from account opening)

Disclaimer:

Rates and terms are subject to individual credit assessment and bank approval.

» Read our full review

Overview:

Another high-interest multi-currency savings account, the Bonus$aver Account rewards power users who spend, invest, insure and credit their salary with the bank with interest rates of up to 6.05% p.a. 

Qualifications:

• Clients applying for a Bonus$aver account and Bonus$aver Debit Card must be at least 18 years of age.

• Clients applying for a Bonus$aver account and Bonus$aver Credit Card must be between 21 and 65 years old.

How to apply:

• Apply via SingPass MyInfo on Standard Chartered Bank’s website.

Fees and charges:

• Fall-below fee: $5 (Applies when your average daily balance falls below S$3,000)

• Early account closure fee: S$30 (Within 6 months of account opening)

• Debit card annual fee: Waived

• Credit card annual fee: S$216 (Free for the first 2 years)

Disclaimer:

Rates and terms are subject to individual credit assessment and bank approval.

» Read our full review

Overview:

A multi-currency account that rewards you when you spend and save, the HSBC Everyday Global Account also lets you shop and withdraw cash in 10 currencies with zero fees attached. It might just be the perfect bank account for globetrotters!

Qualifications:

• Singapore Citizens, PRs and foreigners are welcome to apply.

How to apply:

• Applications can be done via SingPass MyInfo or HSBC EasyID.

Fees and charges:

• Minimum account balance fee: S$5 (Applies when average daily balance falls below S$2,000.)

• Account closure fee: S$50

Disclaimer:

Rates and terms are subject to individual credit assessment and bank approval.

» Read our full review

Overview:

A fuss-free savings account that doesn’t charge any fall-below fees, the CIMB StarSaver Account has a modest initial deposit requirement of just S$1,000. As you grow your account balance, so does your interest rate, making this a good pick for young working professionals. 

Qualifications:

• Singapore Citizens, PRs and foreigners at least 16 years of age. (Those below 16 will require a parent or legal guardian to open an in-trust account with them.)

How to apply:

• Online through CIMB’s website with Singpass MyInfo.

Fees and charges:

• Fall-below fee: S$0

Disclaimer:

Rates and terms are subject to individual credit assessment and bank approval.

» Read our full review

The OCBC 360 Account pays a base interest of 0.05% p.a. on your total account balance, regardless of your actions.

This can balloon up to an EIR of 6.3% p.a. on your first S$100,000 if you are willing to take the following actions on a consistent basis:

• Credit your salary to your account via GIRO/FAST/PayNow. (You'll need to credit a minimum of S$1,800 per month.)

• Save with OCBC and increase your average daily balance by at least S$500 every month.

• Spend at least S$500 each month and charge the amount to your OCBC 365 Credit Card, OCBC INFINITY Cashback Card, OCBC NXT Credit Card, OCBC 90°N or OCBC Rewards Card.

• Purchase an eligible insurance product from OCBC to earn additional Insure Bonus Interest. 

• Purchase an eligible investment product from OCBC to earn additional Invest Bonus Interest.

OCBC is currently running a Child Development Account (CDA) and MyOwn Account (MOA) promotion for 360 Account members. Simply sign your child up for either the CDA or MOA to enjoy an additional 0.3% p.a. on top of the 6.3% p.a. on your first S$100,000. 

» FIND OUT: Singapore's best fixed deposit rates for 2025

Additionally, you can earn a further 2.40% p.a. if you maintain an average daily balance of S$200,000 or more in your account. 

Realistically speaking, those who are able to meet OCBC's criteria for enjoying the maximum EIR of 6.3% p.a. are going to be the exception rather than the norm. After all, you may already have your personal investment and insurance products outside of OCBC. Buying more than you need for earning that 6.3% p.a. is not something most people would do and for good reason.  

So, let's try to visualise this. Let's say you have S$20,000 in your OCBC 360 Account, and you dutifully perform all of these actions without fail each month:

• Credit at least S$1,800 of your salary via GIRO/FAST/PayNow

• Increase your account balance by at least S$500

• Spend at least S$500 on your OCBC 365, OCBC INFINITY, OCBC NXT, OCBC 90°N or OCBC Rewards Card

Here’s how much you can expect to earn in terms of total EIR.

Note that eligible OCBC cards include the OCBC 365, OCBC INFINITY, OCBC NXT, OCBC 90°N and the OCBC Rewards Credit Card.

» FIND OUT: The best savings accounts in 2025

Think of the OCBC 360 Account as the Mum Friend who is always trying to appeal to your better self. Every time you save, insure or invest, you're taking steps to grow your wealth—and the OCBC 360 Account wants to reward you each time you hit a new milestone. That said, not everyone will be able to max out their interest rate due to the sheer financial capital needed to do so.

If you're unsure as to whether this is the right account for you, try out the Interest Calculator on the OCBC 360 Account page. It's a straightforward way to find out exactly how much interest you can expect to earn with your financial status and your ability to commit to the OCBC 360 Account's bonus interest criteria.