OCBC will offer 6% cashback on dining, groceries, transport and petrol to 365 Credit Card holders who spend at least S$800 a month from 1 November 2026.
Monthly cashback will be capped at S$160 under a revised structure that replaces the card’s two spending tiers with a single minimum spend requirement.
Previously, cardholders had to spend at least S$1,600 a month to qualify for the S$160 cashback cap.
Those spending at least S$800 but below S$1,600 had a cap of S$80.
Grocery and transport cashback will double from 3% to 6%, while dining cashback will rise from 5% to 6% and extend to fast-food establishments.
Petrol cashback will remain at 6%. These rates will apply to eligible local and overseas spending.
However, cashback on telco bills, utilities, electric vehicle charging and streaming will fall from 3% to the base rate of 0.25%.
Watsons spending will continue to earn 3% until 31 March 2027 before reverting to 0.25%.
Regina Lim, Head of Group Card Payments and Personal Loans, OCBC, said,
“The variety of card propositions in the market has undeniably increased over the past decade. Nonetheless, there remains firm demand for an effective everyday cashback card – one that is simple to understand and offers meaningful, easy-to-earn benefits for both local and overseas spend.
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.”
An OCBC survey conducted in July 2026 among 600 working adults in Singapore aged 21 to 64 found that rewards on dining, groceries and public transport had the strongest appeal among cashback card benefits, ahead of entertainment and travel.
According to the bank, three in five OCBC credit cardholders hold an OCBC 365 Credit Card, with users making more than 25 transactions a month on average.
Featured image: Edited by Fintech News Singapore, based on image by OCBC
