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The latest on Singapore Savings Account Rates:

Aug 29, 2008

OCBC Monthly Savings Account


OCBC Monthly Savings Account


OCBC Bank has a new Monthly Savings Account promotion that is available now. In OCBC monthly savings account, you can earn interest of up to 1.48% on a 24 months savings account. This savings account allows you to save a fixed amount every month according to your bank savings requirements.


Benefits of OCBC Monthly Savings Account:

You can earn higher interest of 1.08% p.a. or 1.48% p.a. This is more than a usual savings or current account. If you need to withdraw the money, you still receive the full principal sum plus 0.8% p.a. interest. This monthly savings account plan lasts for 24 months. You can have fixed monthly savings amount of as low as S$100 (S$50 via Internet Banking or mail-in application). There are no monthly account fees for the OCBC monthly savings account.


Terms of OCBC Monthly Savings Account:

The OCBC monthly savings account is open to individuals aged 5 years old and above. For individual less than 18 years old, you need to open a joint account with parent(s)/guardian(s) who must be at least 21 years old for this OCBC monthly savings account.

The minimum monthly savings is S$100 (S$50 via Internet Banking or mail-in application) and in incremental multiples of S$10. The maximum monthly savings is S$5,000.


If you terminate the OCBC monthly savings account, early termination fee of S$30 applies if your OCBC monthly savings account is closed within 6 months from account opening date.


Check out the details of the OCBC monthly savings account.


Aug 21, 2008

Best Deposit Rates in Singapore Fixed At 9% P.A.

Best Deposit Rates in Singapore Fixed At 9% P.A.











Get the best deposit rates in Singapore fixed at 9% per annum (p.a.) when you open a Citibank Super Switch High Rate Time Deposit. To enjoy one of the best Singapore savings deposit rates that is fixed up to 9% p.a. interest rates, you need to put in US $20000 equivalent savings deposit in this multi-currency account and switch to fixed NZ dollars in deposits.

This NZ dollar is one of six currencies that you can choose as a fixed currency, to earn high fixed interest rates by using your money from a Singapore savings deposit.

You can withdraw cash from your savings deposit during the tenure as your need arises, yet earn high interest rates for the remaining sum in this deposit account that earns fixed interest.

Deposit interest rates remain fixed at this time but are subject to change so do check with the Citibank to confirm the fixed rates on their Citibank Super Switch High Rate Time Deposit account.

Thank you for reading Singapore Savings Account Rates.

Aug 19, 2008

RHB Bank Junior Banker Account Interest Rates

RHB Bank Junior Banker Account Interest Rates

RHB Bank has a savings account for children called the RHB Bank Junior Banker account which pays one of the highest interest rates. For sums less than $10000, the RHB Bank Junior Banker account pays 0.45% interest rate per annum, which is certainly one of the highest interest rates for children's savings account.

In fact, the interest rates rises if you deposit more into the RHB Junior Banker Account.

RHB Junior Banker Interest Rates*
Deposit Amount / Interest Rates*

Less than S$10,000
0.48% p.a.

S$10,000 - S$49,999
0.58% p.a.

S$50,000 and above
0.78% p.a.

Other perks that come with opening the RHB Bank Junior banker Account include:

Free personal accident insurance coverage** for the child on the RHB Junior Banker Account programme:-

RHB Junior Banker Free Personal Accident Insurance:
Deposit balance*** / Coverage Amount
S$500 and above
100% of deposit balance (Up to a maximum coverage of S$150,000)

Free life insurance coverage** for the parent of RHB Junior banker:-

Junior Banker Free Insurance
Deposit balance***/ Coverage Amount

S$2,000 - S$9,999
60% of deposit balance

S$10,000 - S$49,999
80% of deposit balance

S$50,000 and above
100% of deposit balance (Up to a maximum coverage of S$150,000)

Automatic membership to RHB Junior Banker Club
RHB Junior Banker Club offers an exclusive membership card and privileges

• 50% discount on the first year rental of your safe deposit box for RHB Junior Banker parent
• Free multi-functional safe cum candy dispenser^ with a minimum S$500 initial deposit
• Additional cuddly RHB Max the Lion soft toy^ when you make a minimum S$1,000 initial deposit

Check out the RHB Junior Banker Account at their website.

Aug 16, 2008

Standard Chartered eSaver, eSaver Kids Savings Account Interest Rates Lowered

Standard Chartered eSaver, eSaver Kids Savings Account Interest Rates Lowered

Since 4 August 2008, Standard Chartered Bank has announced that its eSavers and eSavers Kids savings account interest rates have dropped.

Standard Chartered eSaver and eSaver Kids savings interest account rates used to reach as high as 1.08% for $50 thousand dollars and more. Now the eSaver and eSaver Kids account interest rates have been lowered.

Read more about new Standard Chartered eSaver and eSaver Kids interest rates below.

Standard Chartered eSaver, eSaver Kids Savings Account Interest Rates:
(new eSaver interest rates since 4 August 2008)

Less than S$50,000 : eSaver Interest Rate = 0.50% p.a.
S$50,000 to S$199,999 : eSaver Interest Rate = 0.88% p.a.
S$200,000 & above : eSaver Interest Rate = 1.00% p.a.

See Standard Chartered Bank website for details on latest interest rates.

Update by Singapore Savings Account Rates.

Aug 15, 2008

POSB MySavings Account (MSA) Offers Up To 1.5 Per Cent Interest Rate

POSB MySavings Account (MSA) Offers Up To 1.5 Per Cent Interest Rate

My, my! This is truly a unique savings account worth consideration. To earn POSB MySavings Account (MSA) savings interest rate of up to 1.5% per annum, you need make new savings deposits with a sum of $1500 every month.

Yes. Cash of $1500 to be deposited into POSB MySavings Account (MSA) every single month. You have to get hold of that sum of money (presumably from your salary or other sources of earnings) and put it into POSB MySavings Account (MSA) monthly on a regular basis to earn these savings rates.

The moment you deduct some savings and cash from POSB MySavings Account (MSA), your savings interest earned will drop to the next lower tier of interest rate for the savings deposited. This way, you are forced to “save” your savings every month. In effect, it is equivalent to a regular investment. In POSB MySavings Account (MSA), you have to keep on 'saving' (putting money into the account) to chase after that 1.5 per cent interest earning for this POSB MySavings Account (MSA).

There is a also a POSB MySavings Account Kids MSAKids Account where you need to have a child older than 5 years old belonging to you, whose name you can use to start this POSB MySavings Account (MSA) to earn one of the best savings rates in the Singapore bank savings account market.

The minimum savings sum to put into POSB MySavings Account (MSA) per month is $50. This sum earns you savings interest of 0.45% which is not bad compared to the standard POSB Savings Account.

There is no bank savings account opening charge, bank account closing charge and maintenance charges for POSB MySavings Account (MSA) in Singapore.

You can earn even higher savings interest rate of of 1.6% for POSB MySavings Account (MSA) but this is applicable only to Treasures Bank Depositors (who need to be savers with plenty of cash to deposit).

POSB MYSAVINGS ACCOUNT (MSA)
(Interest rate is based on the Monthly Savings Amount)
FOR MONTHLY SAVINGS AMOUNT$50 - $290 0.4500
$300 - $790 1.0000
$800 - $1,490 1.2000
$1,500 - $3,000 1.5000

POSB MYSAVINGS ACCOUNT (MSA)
(TREASURES PREFERENTIAL INTEREST RATES)
(Interest rate is based on the Monthly Savings Amount)
FOR MONTHLY SAVINGS AMOUNT
$50 - $290 1.3000
$300 - $790 1.4000
$800 - $1,490 1.5000
$1,500 - $3,000 1.6000

Recommendation To Maximise Use of POSB MySavings Account (MSA)
As a short term way to boost your interest income, one option is to take money from another bank savings account of yours and 'deposit' it into the POSB MySavings Account (MSA) monthly to 'earn' one of the best interest rates on savings account in Singapore. Once you find another deposits account that pays more (check http://Singapore-Fixed-Deposits.com for even higher rates), you can then switch out of POSB MySavings Account (MSA) to make your hard-earned money earn even more money.

For more details on POSB MySavings Account (MSA), check DBS's POSB website.

Check the latest Singapore Savings Account Interest Rates.

From The Team
Singapore Savings Account Rates

Aug 11, 2008

Latest: Get 1.18% Interest Rate For Singapore Bank Savings Account

Latest: Get 1.18% Interest Rate For Singapore Bank Savings Account


Date: As at 11 August 2008. Check out the latest interest rate of 1.18% for Singapore bank savings account here at Singapore Savings Account Rates for savings of fifty thousand Sing dollars ($50,000) and above. We have the details on the latest Singapore bank savings account interest rates.


Read more ...
above: Latest Interest Rates of Singapore Bank Savings Accounts and more
Brought to you by the team at Singapore Savings Account Rates.

Aug 6, 2008

Best Strategy To Earn Highest CPF Interest Rates

Best Strategy To Earn Highest CPF Interest Rates


At Singapore Savings Account Rates blog, we share with you the best strategy to earn the highest CPF interest rates. If you are younger than 55 years old, this may be the best strategy that can apply to your circumstances to earn the highest CPF interest rates.


The strategy is simple and easy: transfer funds from your Ordinary Account (OA) to the Special Account (SA).


The reason behind this strategy is best understood by looking at the best and highest interest rates offered by CPF on its different accounts.


The CPF Ordinary Account (OA) currently earns 2.5% per annum. The CPF Special Account (SA) earns 4.0% per annum. Thus by transferring funds from CPF Ordinary Account OA to CPF Special Account SA, you get 1.5% higher CPF interest rates.



Over a longer period like 30 years as illustrated in the example given in the Sunday Times article of 3 August 2008, you grow your CPF nest egg by more than three times with the additional 1.5% CPF interest rates.


You can transfer up to the prevailing CPF Minimum Sum of $106,000 (less your existing SA balance and amount used for investment).


The best strategy that we highlight is also a quick and easy way to earn the highest CPF interest rates for your funds that are kept by the government's Central Provident Board (CPF).


It is best not to lose in this strategy to earn the highest CPF interest rates you can get from CPF. This extra 1.5% gain in CPF interest rates can translate to a large fortune in the future.


Link to Central Provident Fund website.

Aug 5, 2008

ABN AMRO Millennium Account

ABN AMRO Millennium Account

We have added ABN AMRO Millennium Account to our list of bank savings account interest rates to monitor.

The ABN AMRO Millennium Account is paying interest rates for bank savings deposits accounts as shown below.

First $10000 0.15%
Next $40000 0.2%
Above $50000 0.3%

(correct as of 1 August 2008)

Thank you for reding Singapore Savings Account Rates blog.

Aug 3, 2008

Citibank Maxisave Sweep Account

Citibank Maxisave Sweep Account

Citibank Maxisave Sweep Account earns you bank savings interest starting from 0.35% per annum. Strictly speaking though, the Citibank Maxisave Sweep Account is not your typical Singapore Savings account.

It is structured to earn higher interest rates if you hold the savings for periods like 6 months to 1 year. It still allows you to withdraw sums prematurely, but then you will earn a lower interest rate. If you have less than $10000 to save, this account will be out of your reach.

We give you more details on the Citibank Maxisave Sweep Account, based on details released on their website.

Citibank MaxiSave Sweep Account lets you enjoy instant access to your cash in your account including funds in your unfixed deposit. You can access your account from over 125 ATMs anytime. You will also earn 0.35% p.a. on the withdrawn amount from your unfixed deposit (subject to terms and conditions).

After a minimum tenure of 1 month in Citibank Maxisave Sweep Account, on your unfixed deposit you can withdraw cash in blocks of S$1,000 and still earn a high interest of 0.35% p.a. on your withdrawn amount (based on completed tenure). Thus you can have instant access to your cash, like a savings account.

The minimum sum to start Citibank Maxisave Sweep Account is S$10,000 and the maximum amount is one million Singapore dollars per customer.

Recommendation
To maximise your interest earnings, you should aim to keep your savings longer in Citibank Maxisave Sweep Account, like the way you do for a fixed deposit.

For more information, refer to Singapore Fixed Deposits' Citibank Maxisave Sweep Account post at http://singapore-fixed-deposits.com/

To compare the best rates for Fixed Deposits, check out Singapore Fixed Deposits blog. http://singapore-fixed-deposits.com/


Thank you for reading Singapore Savings Account Rates blog.

Aug 1, 2008

Singapore Bank Savings Interest Rates For 1 August 2008

Singapore Bank Savings Interest Rates For 1 August 2008
Date: 1 August 2008


Summary: Singapore bank savings interest rates are currently unchanged from last update.


Thank you for visiting Singapore Savings Account Rates blog for the latest Singapore bank savings interest rates.


We present a summary of the current latest selected Singapore bank savings interest rates for POSB, DBS, OCBC, UOB, Maybank, HSBC, HLF, Citibank and ABN Amro:


Singapore bank savings interest rates of POSB Passbook:

First $3000 0.2500

Next $47000 0.2750

Next $50000 0.3750

Remaining balance above $100000 0.4750

Singapore bank savings interest rates of DBS Autosave (Personal):


First $3000 0.25%

Next $47000 0.35%

Next $50000 0.45%

Above $100K 0.60%


Singapore bank savings interest rates of OCBC Bank Savings Account (With Debit Card)

First $10000 0.25%

From $10001 to $50000 0.35%

From $500001 to $250000 0.40%

Above $250K 0.65%


Singapore bank savings interest rates of UOB FlexiDeposit Account


First $15000 0.35%

Next $85000 0.45%

Next $200K 0.65%

Above $300K 0.75%


Singapore bank savings interest rates of Maybank iSAVvy Account


Less than $5000 0.25%

$5000 to below $50000 0.88%

$50000 and more 1.18%

Interest-on-interest every 6 months * 6.0%

average balance at least $50000


Singapore bank savings interest rates of HSBC Premier Account


First $4999.99 0.15%

From $5000 to $14999.99 0.2%

From $15000 to $49999.99 0.35%

From $50000 to $99999.99 0.6%

From $100,000 and more 0.85%


Singapore bank savings interest rates of HLF (Hong Leong Finance) Savers Plus


$500 to $49999 0.25%

$50000 to $2 million 0.375%


Singapore bank savings interest rates of Citibank Maxisave Sweep Account

From $10000 and above 0.35%



Singapore bank savings interest rates of ABN AMRO Millennium Account

First $10000 0.15%

Next $40000 0.2%

Above $50000 0.3%

Stay tuned as we shall update this list of current latest Singapore Bank Savings interest rates for POSB, DBS, OCBC, UOB, Maybank, HSBC, HLF, Citibank and ABN Amro.


Disclaimer: Kindly check with the respective banks to confirm the bank interest rates. All interest rates are subject to change without prior notice. We disclaim all liabilities for any errors or omissions.


Tags: Current Latest Singapore bank savings interest rates

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