SINGAPORE - Local banks have cut their interest rates on savings accounts amid the coronavirus outbreak this year, with OCBC Bank being the first to announce another reduction since May.
The bank will also stop offering the credit card spend bonus interest - currently at 0.2 per cent for the first $35,000 and 0.4 per cent for the next $35,000 - on the 360 account from July 1. This latest announcement comes about a month after an earlier set of rate revisions for the 360 account took effect on May 2.
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