ocbc 360 vs uob one

UOB One Vs OCBC 360 Accounts: Which is Better Savings Account?

Choosing the right savings account is key to accelerating your financial growth. The UOB One and OCBC 360 accounts stand out in Singapore for their attractive interest rates and benefits. 

The UOB One offers up to 7.8% p.a. interest, with specific requirements like minimum card spending and salary crediting or GIRO payments. 

Meanwhile, the OCBC 360 account provides various ways to earn bonus interest, potentially reaching an EIR of up to 4.65% p.a. on the first S$100,000. 

In this article, we’ll explore these accounts in detail, comparing their features and benefits to help you make an informed choice.

UOB One Account vs OCBC 360 Account

Feature/Requirement UOB One Account OCBC 360 Account
Interest Rate Up to 7.8% p.a. Up to 4.65% p.a.
Base Interest Rate 0.05% 0.05%
Salary Crediting Required for higher rates (via GIRO) Bonus interest for salary credit (via GIRO/PayNow)
Card Spending Minimum S$500 on eligible UOB cards Minimum S$500 on OCBC credit cards
Additional Criteria GIRO transactions or salary crediting Bill payments, investments, insurance
Account Balance for Maximum Rates Up to S$100,000 Up to S$100,000
Security Feature “Money lock” feature “Money lock” feature with external authorization
GIRO Transactions 3 GIRO debit transactions Min. 3 bill payments electronically or via GIRO
Insurance/Investments Not applicable Eligible products from OCBC


Key Point:

  • Choosing between UOB One and OCBC 360 depends on your financial habits. 
  • UOB One suits those focused on high savings with specific spending and crediting criteria, offering up to 7.8% interest. 
  • OCBC 360 caters to diversified financial activities, providing up to 4.65% interest, ideal for engaging in various banking transactions for rewards.

Example Scenario 


  • UOB One Account: May struggle to meet salary crediting requirements but can benefit from card spending and GIRO transactions.
  • OCBC 360 Account: Can earn bonus interest through spending and bill payments, even without a regular salary.

Salaried Individuals:

  • UOB One Account: Ideal for those who can credit their salary and meet the card spending requirement to maximize interest.
  • OCBC 360 Account: Suitable for those who can credit their salary and engage in other banking activities to earn bonus interest.

High Earners:

  • UOB One Account: Can take advantage of the high maximum interest rate on larger balances.
  • OCBC 360 Account: May find the tiered bonus interest structure appealing for maximizing returns on their savings.

UOB one account

UOB One Savings Account Overview 

Best For: Individuals with Regular Income and Frequent UOB Card Users

The UOB One Savings Account is best suited for individuals who:

  • Have a steady income that can be credited to the account.
  • Use their UOB card regularly for monthly expenses.
  • Are looking for a savings account with competitive interest rates and are willing to meet the criteria to achieve them.

According to Danny Lee in his written review on Seedly, “[UOB One Account] One of the highest interest that any bank offers for now. EIR 5% for 100K. However, you need to spend $500 using UOB One card. Without this spending, you cannot get the bonus interest.”


The UOB One Savings Account is a high-interest savings account that rewards users for their banking activity. 

To qualify for higher rates, account holders need to meet certain criteria. Specifically, they must spend a minimum of S$500 monthly on an eligible UOB card and either credit a salary of at least S$1,600 or make three GIRO payments monthly. Meeting these requirements can boost your interest rate to an impressive 7.8% p.a.

Worried about account security? UOB is enhancing the security of the One account with the introduction of a “money lock” feature. 

As Daniel Ng, UOB’s head of group compliance, explained in an article by The Straits Times, this feature is designed to limit risk exposure online by ring-fencing a portion of funds from digital transfers or intrusion. This added layer of security makes the UOB One account an even more attractive option for those concerned about online fraud and security.

Interest Rate Structure

The UOB One Account has a base interest of 0.05%. The UOB One Account rewards you with increasing bonus interest rates based on your balance, salary contributions, and credit card expenditures. 

The structure allows for earning progressively higher rates: up to 4.85% p.a. on the initial S$75,000 and a higher rate of up to 7.80% p.a. on your first S$100,000, incentivizing both saving and spending within the account framework.

Account Monthly Average Balance (MAB) Spend min. S$500 (calendar month) on eligible UOB Card Spend min. S$500 (calendar month) on eligible UOB Card AND make 3 GIRO debit transactions Spend min. S$500 on an eligible UOB Card AND credit your salary via GIRO
First S$30,000 0.65% 2.50% 3.85%
Next S$30,000 0.65% 3.00% 3.90%
Next S$15,000 0.65% 4.00% 4.85%
Next S$25,000 0.05% 0.05% 7.80%
Above S$100,000 0.05% 0.05% 0.05%

(Source: UOB One Account)

Based on the table above, you can qualify for higher interest rates with the UOB One Account when you meet the minimum spend of S$500 using specified UOB cards. These include the UOB One, Lady’s, EVOL, and several debit cards, among others. Unfortunately, if you don’t meet this requirement, your account will only yield a base interest rate of 0.05%.

Additionally, conducting GIRO transactions or crediting your salary can further enhance your interest rates, with salary crediting offering the most significant boost.


  • High interest rates: With the potential to earn up to 7.8% p.a., the UOB One account is among the top-tier savings accounts in terms of interest earnings.
  • Flexibility: Users have multiple ways to meet the criteria for higher interest rates, making it easier to tailor the account to their lifestyle and financial habits.


  • Criteria for higher rates: The need to meet specific spending and transaction requirements might not suit everyone, especially those with lower income or spending.
  • Limited to lower balances: The highest interest rates are typically capped at a certain account balance, which might not be ideal for those with larger savings.

OCBC 360 saving account

OCBC 360 Savings Account Overview

Best For Active OCBC Users Aiming for Maximum Interest

The OCBC 360 Savings Account is ideal for individuals who:

  • Have a regular income that can be credited to the account.
  • Use OCBC’s banking services for bill payments and credit card spending.
  • Are proactive in managing their finances to meet the criteria for higher interest rates.

Choon Yuan Chan and Christina Toh, both users of the OCBC 360 Account, have praised its achievable and progressive interest rates as standout features compared to other banks. Christina Toh particularly endorses the account for those embarking on their careers, be it in full-time or part-time positions, for its accessibility and rewarding interest structure.


The OCBC 360 Savings Account is a popular choice for those seeking to maximize their interest earnings through various banking activities. Account holders can qualify for higher rates by fulfilling certain conditions, such as crediting their salary, paying bills, or spending on an OCBC credit card. The potential effective interest rate (EIR) can reach up to 4.65% per annum on the first S$100,000 of the account balance.

To enhance security, OCBC has introduced a “money lock” feature, as explained by Mr. Beaver Chua, head of anti-fraud at OCBC’s group financial crime compliance department. This feature requires users to authorize access to the account on a platform other than the online banking app, like at an ATM. It acts as a safeguard against unauthorized access, adding an extra layer of protection for account holders against phishing, malware, and other malicious means.

Interest Rate Structure

With a base interest rate of 0.05%, the OCBC 360 account uniquely offers bonus interest across various activities without a mandatory primary condition. 

Unlike the UOB One, bonus interest accumulates with each eligible action you complete, giving you the autonomy to earn additional interest through salary crediting, spending, and more, as per your preference and financial strategy.

Category Conditions Account Daily Average Balance (DAB)
Bonus Interest for First S$75,000 Bonus Interest for Next S$25,000 Effective Interest Rate (EIR)
Salary Credit salary of at least S$1,800 through GIRO/PayNow via GIRO. 2.00% 4.00% 2.50%
Save Increase your average daily balance by at least S$500 monthly. 1.20% 2.40% 1.50%
Spend Charge at least S$500 to selected OCBC Credit Cards each month. 0.60% 0.60%
Insure Purchase an eligible insurance product from OCBC. 1.20% 2.40% 1.50%
Invest Purchase an eligible investment product from OCBC. 1.20% 2.40% 1.50%
Grow Maintain an average daily balance of at least S$200,000. 2.40% 2.40%

(Source: OCBC 360 Account)

To boost the interest earned on your OCBC 360 account, you must satisfy certain conditions. These include:

  • Having your salary credited directly to the account
  • Paying a minimum of three bills electronically or via GIRO
  • Spending a threshold amount on an OCBC credit card
  • Engaging in OCBC’s insurance or investment services.

The bonus interest is structured in tiers, so meeting more of these requirements can lead to higher interest earnings above the standard rate.


  • Multiple ways to earn bonus interest: The account offers several categories for earning extra interest, providing flexibility for different types of users.
  • High potential interest rate: With the right combination of activities, the EIR can be quite attractive compared to other savings accounts.


  • Complexity: Keeping track of the various requirements for bonus interest can be challenging for some users.
  • Limited to certain activities: The bonus interest is tied to specific actions, which may not align with everyone’s banking habits.


1. Is OCBC 360 worth it?

The OCBC 360 account can be worth it if you can meet its criteria to earn bonus interest. Its flexible structure allows you to earn additional interest through various activities such as salary crediting, spending on OCBC credit cards, and more. If these activities align with your financial habits, the OCBC 360 account can offer attractive returns on your savings.

2. Which is better, OCBC 360 or DBS Multiplier?

The choice between OCBC 360 and DBS Multiplier depends on your financial habits and goals. The DBS Multiplier account rewards a broader range of transactions, including credit card spending, investments, insurance, and home loans. If you engage in multiple banking activities and have higher transaction volumes, DBS Multiplier might offer better returns. However, if you prefer a more straightforward account with fewer requirements, the OCBC 360 might be a better fit.

3. What is the difference between OCBC 360 and Bonus Saver?

The OCBC 360 account offers bonus interest for various activities, including salary crediting, bill payments, and spending on OCBC credit cards. It provides flexibility in how you can earn additional interest. 

On the other hand, the OCBC Bonus Saver account primarily focuses on rewarding spending on an OCBC credit card, with higher bonus interest rates for higher spending tiers. The Bonus Saver account is more suitable for those who primarily want to earn interest through their credit card spending.


Choosing between the UOB One and OCBC 360 accounts depends on your financial habits, goals, and preferences. The UOB One Account offers higher potential interest rates but requires specific spending and transaction criteria, making it ideal for regular UOB card users with a steady income. On the other hand, the OCBC 360 Account provides flexibility with multiple ways to earn bonus interest, catering to a broader range of banking activities.

Key Takeaways

  • UOB offers up to 7.8% p.a. interest; OCBC up to 4.65% p.a. with varied bonus criteria.
  • UOB focuses on card spend and salary; OCBC rewards multiple banking activities.
  • UOB’s “money lock” enhances security; OCBC’s tailored bonus interest with added services.

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