OCBC has announced a significant update to its OCBC 365 Credit Card, doubling the cashback earn rate for groceries and transport to 6% starting 1 November 2026. This change simplifies the card’s structure by introducing a single-tier minimum spend requirement of S$800 per month, allowing cardholders to earn up to S$160 in monthly cashback. The enhanced cashback rates apply to dining, groceries, transport, and petrol, with dining now including fast-food establishments.
The revised card structure eliminates the previous complexity of multiple spending tiers, making it easier for customers to maximise their cashback. Previously, cardholders needed to spend between S$800 and S$1,600 to earn a capped cashback of S$80. Now, spending S$800 qualifies them for the full S$160 cashback cap.
An OCBC survey conducted in July 2026 with 600 working adults in Singapore revealed that cashback on essentials like dining, groceries, and public transport is highly valued. Regina Lim, Head of Group Card Payments and Personal Loans at OCBC, stated, “Customers will earn the 6% cashback on things that they already spend on, such as dining out, buying groceries, taking public transport and refuelling petrol, so we are now just making it more rewarding for them to do so.”
The card’s appeal extends beyond Singapore, with significant overseas usage, particularly in Malaysia. The refreshed card proposition is expected to increase overseas spending, with more than one-third of such transactions anticipated to occur in Malaysia.
