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BT EXCLUSIVE

OCBC hikes rate on rollover credit; other banks may follow

It now charges 26.88% on unpaid balances on its credit cards; Citibank's rate also above 26%

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OCBC Bank has become the latest bank to raise interest rates for credit card late payments, raising questions on whether this would trigger a new round of increases by other banks.

OCBC Bank has become the latest bank to raise interest rates for credit card late payments, raising questions on whether this would trigger a new round of increases by other banks.

The local bank recently hiked the interest charge to 26.88 per cent a year on overdue credit card bills,...

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