This is the fourth time since May 2020.
OCBC will slash rates on its flagship 360 account effective 1 February, the fourth time since May 2020, according to a statement.
Balances up to S$25,000 will earn up to 0.3% in salary credit interest, down from the current 0.4%. Balances between S$25,000 and S$50,000 will earn 0.6% from the prevailing 0.8%, whilst interest for balances between S$50,000 and S$75,000 will be unchanged at 1.2%
The bank assured its clients that it will adjust its offerings accordingly “if and when the interest rate situation improves.”
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