HSBC Removes 1% p.a. Everyday+ Bonus Interest on the Everyday Global Account (Effective 1 July 2026)

HSBC has announced a significant change to the Everyday+ Rewards Programme: the 1% p.a. bonus interest on incremental SGD average daily balances in the HSBC Everyday Global Account (EGA) will be removed with effect from 1 July 2026.

Photo Credit: HSBC Singapore

The Everyday+ Rewards Programme currently rewards EGA holders with two components each month, provided they make an eligible deposit of at least S$2,000 (for Personal Banking customers) or S$5,000 (for Premier customers) and complete at least 5 eligible transactions:

• 1% p.a. bonus interest on incremental SGD average daily balances

• 1% cashback on all eligible spends with the HSBC Everyday Global Debit Card

From 1 July 2026, the 1% p.a. bonus interest will no longer be paid. Based on HSBC's announcement, the 1% debit card cashback under the Everyday+ Rewards Programme is not affected, so the EGA Debit Card remains a useful instrument for fee-free multi-currency spending with a cashback kicker.

The real sting is in how the EGA's interest stack now adds up. The 1% Everyday+ bonus interest has been the layer that elevated the EGA from "decent" to "competitive", because it stacked on top of the monthly SGD fresh funds bonus interest promotions that HSBC runs. Take the current June 2026 SGD EGA bonus interest promotion, which runs from 1 June 2026 to 30 September 2026 on incremental fresh funds of up to S$5,000,000. Here is what the stack looks like before and after 1 July 2026:

Component	Until 30 June 2026	From 1 July 2026
Prevailing interest rate	0.05% p.a.	0.05% p.a.
EGA bonus interest promotion (with wealth holdings)	1.60% p.a.	1.60% p.a.
Everyday+ Rewards bonus interest	1.00% p.a.	Removed
Total (with wealth holdings)	2.65% p.a.	1.65% p.a.
Total (without wealth holdings)	2.45% p.a.	1.45% p.a.

To put that in dollar terms, a customer parking S$100,000 of qualifying incremental fresh funds would see their annualised interest fall from roughly S$2,650 to S$1,650 (with wealth holdings). That is S$1,000 a year evaporating for doing exactly the same thing.

It is no secret that the EGA's appeal has always rested on its simplicity. There was no salary credit requirement, no insurance or investment hoops to qualify for the headline rate, and the Everyday+ criteria (a S$2,000 deposit and 5 transactions) were trivially easy to hit. The 1% bonus interest was the quiet workhorse that made the whole proposition competitive against the likes of UOB One and OCBC 360, which demand considerably more gymnastics.

Removing it is a meaningful downgrade, and it follows a familiar pattern across the Singapore deposit landscape as banks ride the lower interest rate environment to trim what they pay savers. The monthly SGD fresh funds promotions will still do some heavy lifting, but those are promotional by nature, require fresh (incremental) funds, and reset on HSBC's terms each cycle. The Everyday+ bonus interest was the only year-round, non-promotional layer in the stack. That is precisely the layer being removed.