Well, all of us knew this day was coming, since all good things must come to an end. Looking through the archives, I wrote a review of the 360 account on 8 Apr 14, meaning this account has already been in existence for more than a year. And OCBC has not been upfront about their upcoming revisions until I heard from a friend who recently went to open this account after much persuasion!
If you go to the OCBC 360 account, it will still reflect as 0.05-0.15% base + 1% + 1% + 1% p.a. interest rate, but come 1 May, the payment bonus interest will be halved to 0.5% and the same goes for the credit card spend bonus interest. On top of that, the minimum spend will be increased to $500, which is not a major problem since you need to spend a minimum of $500 on the OCBC Frank card for the bonus rebate and $600 for the 365 card.
For those who are interested in checking out the full T&C, check out http://www.ocbc.com/personal-banking/notices.html
On another note, they will have some additional terms for you to earn additional interest but these will only be revealed next month. Wonder if DBS Multiplier will take steps to cut the interest too?