We talked about the 1% interest savings account for millionaires in an earlier post last time. This 1% interest for savers account is suitable for people with more modest incomes who don't have one million dollars hidden under our pillows. Having said that, millionaires are not exempted from qualifying for this 1% interest for savers account.
Interested? Read on.
Singapore Savings Account Rates helps you to boost interest income from savings accounts, savings bonds and other financial retail investments in Singapore.
You get 1% interest for CIMB FastSaver account holders.
Daily interest will be paid on the entire daily balance, provided that the balance is at least S$1,000 in your CIMB FastSaver account on any given day and capped at S$50,000. For remaining balances above S$50,000, an interest rate of 0.6% p.a. will apply.
There's no need to step into a CIMB branch to open such an account. In fact, you must open it via online means. You get a dongle to FAST transfer funds to and from your other savings accounts.
Indeed, conducting a transaction over a counter at a CIMB branch for this savings account will cost you $5.
For you own protection, perform due diligence to assess the suitability of these financial products for your personal financial circumstance.