OCBC to add ringgit balances to Singapore savings accounts
Customers will be able to hold up to RM50,000 and earn interest, with the new currency option available from 23 October 2026.
OCBC will introduce Malaysian ringgit holdings for its Singapore-based personal savings customers from 23 October 2026. The bank said it would become the first non-Malaysian lender to offer such accounts, allowing customers to earn interest on ringgit deposits.
The option will be available through the OCBC Global Savings Account and Premier Global Savings Account. Customers can exchange Singapore dollars for ringgit and keep balances of up to RM50,000. The addition will increase the number of currencies supported by the accounts to 11.
According to OCBC, purchases using a linked debit card will carry no foreign currency transaction fees. Ringgit withdrawals at OCBC ATMs in Malaysia will also be free of currency conversion, administration and third-party operator charges.
The bank reported a compound annual growth rate of 25% in the value of its customers’ transactions in Malaysia since 2022. Malaysia represents one-third of their overseas transactions, with dining and shopping the largest spending categories.
OCBC also reported that new Global Savings Account openings increased by more than 25% between July and September 2026. Tan Siew Lee, its head of Group Wealth Management, said the ringgit option would let frequent travellers secure favourable exchange rates and earn interest before spending the funds.
