Update to OCBC 360 Account Bonus Interest Rates

Well I heard from a friend about OCBC changing the interest rates for the 360 Account as well as this Monday, a short session/forum with a group of like-minded folks, someone spoke up about it too.

Looks like both of them were right.

So here are the changes:

The sad part is that the payment bonus interest (Pay any 3 bills) and CC spend bonus is slashed by half.

What's more the CC spend is increased to my OCBC FRANK Card minimum spend (good or bad?).

Oh well, I am avoiding the CC spend bonus interest if possible for months now because I realised that no way the additional 1% p.a. will help recover unnecessary expenditure.

Guess I'll only get 1.55% p.a., reminds me of the SSB huh.

Time to look at Fixed/Time Deposits laddering or just drop extra cash into the SSB.

UPDATE: OCBC has announced that there will be new criterias to get more bonus interest, to more than 3%. I wonder if the new criterias would be similar to the DBS Multiplier Account.