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Jun 30, 2009

Business Savings Account

Business Savings Account

In today's discussion at Singapore-Savings-Account-Rates.blogspot.com, we ask,"Are there business savings accounts in Singapore?"

If you are a sole proprietor, a partner in a partnership or a director in your own company, what business savings accounts can you deploy to make your money work harder for you? Let Singapore-Savings-Account-Rates.blogspot.com help you answer this business savings account related question.

If you are looking for a business account that pays regular interest (like a personal savings account) for a bank account for your business, firm or company, you would be disappointed.

We, at Singapore-Savings-Account-Rates.blogspot.com, can't find any business savings account that performs like a regular personal savings account.

As a sole proprietor, you may use your own personal savings account for all your business expenditure and business revenue. If you set up a business current account in the name of your business, there is no interest earned on such business current account.

There are many types of business accounts offered by banks in Singapore for a firm, partnership, business or company. These business accounts come with various features depending on the business' requirements and financial transaction needs.

You should check with the local banks like DBS, OCBC or UOB, or any of the foreign-owned banks operating in Singapore for in-depth discussions on your business account requirements.

We will keep a look-out for business savings account. Once we obtain news on such business savings account, we will update Singapore Savings Account Rates.

Jun 29, 2009

POSB Invest SingGrowth Account

POSB Invest SingGrowth Account

New investment product from POSB bank is highlighted for your information by Singapore Savings Account Rates.

Investors need S$5,000.00 to start the POSB Invest SingGrowth Account.

Payout of POSB Invest SingGrowth Account:

Year | Fixed Payout | Bonus Payout
Year 1 = 2.78% -
Year 2 = 1.08% 0.50%
Year 3 = 1.18% 1.00%
Year 4 = 1.28% 1.50%
Year 5 = 1.38% 2.00%

Bonus payments will happen only when the 4 underlying equities (upon which this structured product is tied to) rises 15%.

The 4 equities are Singapore blue chip companies:
1) Singapore Telecommunications Limited,
2) United Overseas Bank Limited,
3) Singapore Press Holdings Limited and
4) SembCorp Industries Limited.

POSB Invest SingGrowth Account is an approximately 5-year SGD equity-linked structured deposit. It is a structured product from POSB (part of DBS), not a savings account. It means that the interest quoted and even your capital are not guaranteed. If POSB closes shop within the five years of this product life, you lose everything in POSB Invest SingGrowth Account

What then is attractive about POSB Invest SingGrowth Account?

You get interest payments from POSB Invest SingGrowth Account of about 7.70% (because the tenure is not exactly five years) over the five years if no redemption occurs. That is about 1.54% per year of interest earned. Bonus payments only occur when underlying stocks rise 15% during a specified redemption date some time in the future. At that future fixed date, you potentially may receive up to 2% bonus payout (which is 0.4% per year).

One final consideration about POSB Invest SingGrowth Account. Structured deposits (e.g. POSB Invest SingGrowth Account) are excluded from insurance coverage under the Singapore Deposit Insurance Act (Chapter 77A) and the guarantee by the Singapore Government, and carry risks not normally associated with ordinary bank deposits. You should therefore not treat the product as a substitute for ordinary savings or fixed deposits.

Jun 25, 2009

Bank of East Asia Savings Account Rate

BEA Bank of East Asia Savings Account Rate

The Singapore branch of BEA Bank of East Asia savings account rate is presented today in June 2009 by Singapore-savings-account-rates.blogspot.com. The rates are current as at 24 June 2009.

Table Display of Bank of East Asia Savings Account Rate (BEA Singapore):The current latest Bank of East Asia savings account rate is holding steady at 0.375% per annum. Investors who plan on investing with money in their savings account should confirm the latest bank account savings rates with the bank before making a final decision on any investment.

While Bank of East Asia savings account rate are correct up till 24 June 2009, rates may change tomorrow or at any time without advance notice.

Bank of East Asia Savings Account Rates are for information only.

Thanks for visiting. Explore more savings account rates on our site, where we are dedicated to bring you the latest and best savings account rates in Singapore!

Jun 24, 2009

POSB Savings Account Rates

POSB Savings Account Rates

For this day in June Singapore Savings Account Rates blogspot.com presents the latest and best POSB Savings Account Rates for their POSB Passcard and POSB Passbook.

Singapore Savings Account Rates Chart showing POSB Savings Account Rates of POSB Passcard and POSB Passbook:



POSB Savings Account Rates are current as at 20 June 2009. Note that POSB Savings Account Rates may change without prior notice. All rates are for information only and should not be used for decision making on investing without re-confirming with the bank.

The best savings account rates is 0.40 % per annum. for bank balances above S$100,000.00. Any amount less that S$3000.00 earns a rate of return of 0.25% p.a.

Keep reading our savings account rates.

Jun 23, 2009

Offshore Banks

Offshore Banks (Part 1)

This is the list of offshore banks that operate in Singapore, brought to you by Singapore-Savings-Account-Rates.blogspot.com.

Source: Monetary Authority of Singapore.

Offshore Banks list:
AGRICULTURAL BANK OF CHINA LIMITED
ARAB BANK PLC
BANK HAPOALIM (SWITZERLAND) LTD
BANK OF BARODA
BANK OF COMMUNICATIONS CO LTD
BANK OF NEW YORK MELLON, THE
BANK OF NEW ZEALAND
BANK OF TAIWAN
CANADIAN IMPERIAL BANK OF COMMERCE
CATHAY UNITED BANK
CHANG HWA COMMERCIAL BANK LTD
CHINA CONSTRUCTION BANK CORPORATION
CLARIDEN LEU LTD.
CREDIT AGRICOLE (SUISSE) SA
CRAZY SAVINGS ACCOUNT OFFSHORE BANK:-)
DEXIA BANQUE INTERNATIONALE A LUXEMBOURG SA
DNB NOR BANK ASA
HANA BANK
HANG SENG BANK LIMITED
HSH NORDBANK AG
HUA NAN COMMERCIAL BANK LTD
ICICI BANK LIMITED
KOREA DEVELOPMENT BANK, THE
SINGAPORE SAVINGS ACCOUNT RATES BANK:-)
KRUNG THAI BANK PUBLIC COMPANY LIMITED
LAND BANK OF TAIWAN
LLOYDS TSB BANK PLC
MITSUBISHI UFJ TRUST & BANKING CORPORATION
MY OWN OFFSHORE BANK:-)
NORDEA BANK FINLAND PLC
NORINCHUKIN BANK, THE
PHILIPPINE NATIONAL BANK
SAVINGS ACCOUNT RATES BANK;-)
PT BANK MANDIRI (PERSERO) TBK

Offshore Banks Part 2 in next post.
Note the deliberate insertions of an entire line that ends with this :-) and this ;-).

Hope you find some profitable financial investments and structured financial products to make your cash savings, savings accounts, un-fixed deposits, and spare cash work harder!

Read more at Offshore Bank Rates site.


Thanks for reading our savings account rates.

Jun 22, 2009

Foreign Currency Savings Rates

Foreign Currency Savings Rates

We, Singapore Savings Account Rates blogspot, present Foreign Currency Savings Rates from RHB Bank (Singapore) today. We have selected to highlight the Australia Dollar and New Zealand Dollar foreign currency savings rates for your financial investment information.

You can read the foreign currency savings rates for Australia and New Zealand dollar denominated accounts in percentage per annum in the table below.

Table showing foreign currency savings rates from RHB Bank Singapore:






































Foreign Currency Savings Rates

CurrencyFirst $5000
Next $45,000Next $50,000Above $100K







Australian Dollar Savings Rates 2.3%2.5% 2.6% 2.7%
New Zealand Dollar Savings Rates
2.0%2.2% 2.3% 2.4%
Foreign Currency savings rates subject to change without prior notice.

Copyright (C) Singapore Savings Account Rates blogspot.



Note that Foreign Currency Savings Rates may change without notice. These foreign currency rates should be re-confirmed with the bank before use.

Keep reading Singapore Savings Account Rates.

Jun 18, 2009

BCA Savings Account Rates

BCA Savings Account Rates

Bank Central Asia (BCA) Savings Account Rates are presented today in June 2009 at Singapore-Savings-Account-Rates.blogspot.com for your financial knowledge.

Table: Bank Central Asia BCA Savings Account Rates:


The BCA savings account rates are for US dollar savings and Sing dollar savings accounts. Note the big difference in the savings account rates. Should you convert your Sing dollars into US dollars to get the better savings account rates?

Do you want to incur foreign currency exchange risks to take advantage of the better rates? Do you have the confidence to do your financial planning and currency conversion calculations carefully before investing? Are you confident of predicting where the US:Sing dollar currency exchange rate will be headed?

Think about foreign currency exchange risks and other banking issues; as you compare savings account rates in Singapore on our Singapore Savings Account Rates site.

Jun 17, 2009

Indian Bank Savings Account Rates

Indian Bank Savings Account Rates

Singapore-Savings-Account-Rates.blogspot.com presents Indian Bank Savings Account Rates. This rate that we quote is offered by the Singapore branch of Indian Bank.

Chart of Indian Bank Savings Account Rates:
Indian Bank's savings account rates in Singapore Dollar (SGD) is shown in the chart above.

Indian Bank Savings Account Rates is currently 0.5% per annum.

Kindly be reminded that Indian Bank savings account rate may change without prior notice.
Rates are correct as at 15 June 2009.

Keep reading Singapore Savings Account Rates, where we bring you the best and the latest savings account rates.

Jun 15, 2009

Bank Savings Rates

Bank Savings Rates

Singapore Savings Account Rates bring you the numbers on bank savings rates today. These bank savings rates are the average bank and finance companies savings account interest rates paid out in the past from January 2008 to early 2009. The bank savings rates are obtained from Monetary Authority of Singapore.

Image of Bank Savings Rates:



Bank Savings Rates are based on the average interest rates of savings account of the top ten banks. You can see that the average bank savings rate of banks is lower than finance companies. In the first four months of 2009, the difference has increased. As at April 2009, banks pay bank savings rates of 0.20% while finance companies pay out savings rate of 0.25%.

These bank savings rates are only average figures. Some banks pay higher interest rates while other banks pay even lower interest rates.

Thank you for reading Singapore Savings Account Rates.

Jun 14, 2009

Passionate About Savings Account Rates

Passionate About Savings Account Rates

We are passionate about savings account rates. That's why we set up this Singapore Savings Account Rates site.

We know that you are passionate about savings account rates too. That's why you are reading these words and a few numbers.

But do we know why we (and you) are passionate about savings account rates? What drives us (and you) to chase after the best and latest savings account rates week in week out?

The obvious answer: to get better deals on savings account rates so that we make our money work harder for us (and for you).

But look beyond that, and explore the reason(s) behind the five cents and ten cents that we save. Why are we (and you) trying so hard to look for the best and highest (and among the safest) savings account rates?

One avid supporter of our site has written plenty of good stuff about living within your means, saving and investing, as a solid foundation to build passive income, for the ultimate purpose of achieving financial freedom and to enjoy life according to your dreams.

Yes, we think most people dream of retiring with a comfortable nest-egg, that is tucked safely in an investment that pays residual income to fund a long, happy and healthy retirement.

That is why we are recommending the site Five Cents Ten Cents to you today. Read the many useful articles that will inspire you. Take a look at Panzer's Road Map to Financial Freedom to decide, if financial freedom to live out your dreams, is also your ultimate passion.

Road Map

Jun 12, 2009

Singapore Savings Account Rates

Singapore Savings Account Rates

We, at Singapore Savings Account Rates, are now one year old!

Thanks to all our readers for supporting Singapore-Savings-Account-Rates.blogspot.com.

We hope to bring you more Singapore savings account rates in the year ahead, to help make your money work harder for you.

The Team
Singapore Savings Account Rates

Jun 11, 2009

Savings Account Rates

Savings Account Rates

As we near our anniversary, it is time to perform a stock check of our site on savings account rates and other developments in the past year.

Savings account rates of banks and financial institutions have been presented on our Singapore-savings-account-rates.blogspot.com. Savings account rates applicable to accounts denominated in the local currency were highlighted while we did monitor foreign currency savings account rates as well. Banks and financial institutions featured were based locally although there were many that were headquartered in countries around the world.

To reiterate our objective, we are dedicated to bring you the latest and best savings account rates that are available at the current period of time. We aim to present banks and financial institutions with selected savings account rates for your comparison and perusal.

The savings account rates that are presented are for information, to help you compare savings account rates. While we endeavour to keep our savings account rates accurate and up-to-date, you are strongly advised to re-confirm the savings account rates before making financial investments of one kind or another. If you spot any typographical errors on the savings account rates, let us know so that we can improve.

Readers from banks, financial institutions or even your own finance-related companies who would like to list savings account rates promotion on our site, please contact us for a discussion. Sg Savings Account Rates would be more than happy to hear from you.

Whether you are based in London | United Kingdom, Paris | France, New York | USA / United States of America, Shanghai | China, Mumbai | India, Sydney | Australia, Kuala Lumpur | Malaysia, Jakarta | Indonesia or any city | country in the world, if you like our savings account rates site, bookmark us. If you prefer, you can also follow our posts on savings account rates through our feeds, or via email subscription.

Thank you for your interest in comparing savings account rates. Feel free to look around our site for any specific savings account rates that catches your fancy.

We look forward to another productive year of savings account rates ahead! Have a great day!

The Team
Singapore Savings Account Rates

Jun 10, 2009

CPF Rate 2009

CPF Rate 2009

Singapore-savings-account-rates.blogspot.com brings you the latest CPF rate 2009 for months of June, July and September.

CPF Rate of Ordinary Account (OA)
CPF Board will pay 2.50% interest per annum for members’ CPF savings in their OA from 1 July 2009 to 30 September 2009.

HDB’s Mortgage Rate
The concessionary interest rate for HDB mortgage loan, which is pegged at 0.1 percentage point above the CPF interest rate for the Ordinary Account, will remain unchanged at 2.60% per annum from 1 July 2009 to 30 September 2009.

CPF Rate For Special, Medisave & Retirement Accounts (SMRA)
CPF Board will pay 4.0% for SMRA. The 4% floor for the SMRA rate will be maintained till 31 December 2009.

Extra CPF Rate of 1%
In addition, an extra 1% interest will be paid on the first $60,000 of a member’s CPF combined balances, with up to $20,000 from the Ordinary Account (OA). The extra interest from the OA will go into the member’s Special or Retirement Account to enhance his retirement savings.

CPF rates of interest payment will be reviewed by CPF Board every quarter.

CPF rates correct as at 10 June 2009.

Keep reading Singapore-savings-account-rates.blogspot.com!

Jun 9, 2009

Indian Bank Deposit Rates

Indian Bank Deposit Rates

Singapore-Savings-Account-Rates.blogspot.com observe Indian Bank Deposit Rates this day in June 2009. We look specifically at their Indian Bank savings account rates.

Indian Bank has a banking presence in Singapore that offers financial investments and other financial products.

Indian Bank Deposit Rates are given as follow:

Indian Savings Account Bank Deposit Rates:
Savings Bank Deposit Rate = 0.50%

Indian Bank Deposit Rates are correct as at June 2009 yesterday. Rates may change without notice at bank discretion. Indian Bank deposit rates are for information only. Kindly re-confirm the Indian Bank deposit rates before investing money.

Thank you for reading Singapore Savings Account Rates.

Jun 8, 2009

Bank Deposit Account For Foreigner

Bank Deposit Account For Foreigner

Can a foreigner open a bank deposit account like a bank savings account in Singapore. A reader posed this question to my Singapore-Savings-Account-Rates.blogspot.com recently.

The answer to this question of whether a foreigner can open a bank deposit account for foreigner is a YES.

However terms and conditions for such bank deposit account for foreigner vary across banks in Singapore.

Generally, most banks in Singapore will allow you to open a bank deposit account in Singapore without hassle. This is provided you satisfy all requirements of each bank.

Documents and other requirements to open a bank deposit account for foreigners are:

1. Passport / Work Permit

2. Age Limit

3. Minimum Deposit sums

4. Application Form

You can check with most banks in Singapore if you need more information regarding your unique needs.

Thanks for reading Singapore Savings Account Rates.

Jun 5, 2009

SBI Bank Deposit Rates

SBI Bank Deposit Rates

Singapore-Savings-Account-Rates.blogspot.com observe SBI Bank Deposit Rates this day in June 2009. We look specifically at SBI Bank deposit rates of savings basic account rates and savings special account rates and Multisweep Account rates.

For those who are unfamiliar with SBI, SBI is the acronym for State Bank of India. SBI has a banking presence in Singapore that offers financial investments and other financial products.

SBI Bank Deposit Rates are given as follow:

SBI Savings Basic Account
up to $1000 | 0.25%
above $1000 | 0.55%

SBI Savings Special Account
up to $1000 | 0.30%
above $1000 | 0.55%

SBI Multi Sweep Account
Main Savings Account | 0.55%
Sub Account | 0.90%

SBI Bank Deposit Rates are correct as at 4 June 2009. Note than SBI bank deposit rates are for information only. Bank deposit rates may change at bank's absolute discretion. Consider other factors before you invest money here, in shares, in stocks, in Singapore financial investments or hide them under your pillow at home.

Thank you for reading Singapore Savings Account Rates.

Jun 4, 2009

RHB Bank Deposit Rates

RHB Bank Deposit Rates

RHB Bank has a savings deposit account for children called the RHB Bank Junior Banker account which pays one of the highest interest rates.

Image: RHB Bank Deposit Rates for Junior Banker Account:

For sums less than $10000, the RHB Bank Junior Banker deposit rate account pays 0.48% interest rate per annum, which is certainly one of the highest bank deposit rates for children's savings account.

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

RHB Junior Banker Deposit 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.

RHB Bank deposit rates may change without notice, and are for information only. Kindly consult your financial adviser for latest bank deposit rates before you invest money here or elsewhere in stock, shares or stuctured productions.

Keep reading Singapore Savings Account Rates, where we bring you the bank deposit rates of Singapore banks.

Jun 3, 2009

Highest Bank Account Rates

Highest Bank Accounts Rates

The table below shows some of the top and highest bank accounts rates in Singapore. Singapore-Savings-Account-Rates.blogspot.com brings you these latest and highest bank account rates.

If you are looking to save money with the highest bank account rates with the best interest rates, here is a summary of the highest bank accounts rates for you delivered by Singapore-Savings-Account-Rates.blogspot.com.































































































































Highest Bank Account Rates Singapore

Savings Bank Account Amount in Sg $
Rate (% p.a.)














Fairprice Plus Savings Accounts $50001-500K1.00
UOB Passbook | Uniplus Top Up Amounts0.80
Maybank iSavvy Bank Account $50K and more0.75
Standard Chartered eSaver 200K and more0.68
NTUC Thrift Savings Bank A/C













0.50
OCBC EasiSave Bank Account
More 1 million0.48
DBS Autosave (Per) Bank A/C Above $1000000.40
Savings bank account rates are subject to change without prior notice. Savings bank account rates correct as of 2 June 2009.






Please note that the highest bank account rates may change. We need to highlight that these highest bank account rates are for your information only. Do not rely solely on the highest bank account rates to decide on which bank account to open or close. Other banking factors need to be considered as well in your investment making and banking decision.

Bank account rates are correct as at 2 June 2009.

Thank you for following our Singapore Savings Account Rates.

Jun 2, 2009

OCBC Children Savings Account Rates

OCBC Children Savings Account Rates

OCBC Children Savings Account is called Young Savers Account. The children savings account rates of OCBC kids account is similar to OCBC Passbook savings account. This free service is brought to you by Singapore-savings-account-rates.blogspot.

Table to show OCBC children savings account rates:
The best children savings account rate is 0.4% per annum for deposits above $250,000. OCBC Children Savings Account Rates may change without notice. Children savings account rates are correct as at 29 May 09. Children savings account rates for for information only and should not be relied solely for financial investments and other finance-related decision making.

If you need the current and latest and best children savings account rates, kindly contact the bank officers.

Thanks for reading Singapore Savings Account Rates.

Jun 1, 2009

Savings Account Rates

Savings Account Rates
For Month of June 2009

While you may have taken leave from work to spend time with your family and kids during this June school holidays, make sure that your banks' savings account rates continue to earn interest for you at optimal levels.

In the first week of June 2009, we present the savings account rates of Singapore banks for your information. Please be aware that savings account rates should be re-confirmed with respective banks before investing.




























































































































































































Savings Account Rates

Sg Savings AccountAmount in Sg $
Rates % Per Annum



POSB Passbook Savings Account First $30000.25



Next $470000.250



Next $500000.325



Above $1000000.400
DBS Autosave (Per) Savings AccountFirst $30000.125



Next $470000.175



Next $500000.325



Above $1000000.40
OCBC Savings Debit AccountFirst $100000.125



$10001 - $500000.175



$50001 - 2500000.325



More than $250K0.400
UOB Flexi Deposit AccountFirst $150000.15



Next $850000.25



Next $200K0.35



Above $300K0.45
Maybank iSavvy Savings Deposit < $50000.25



$5K -less than $50K0.50



$50K and more0.75
HSBC Premier Savings AccountFirst $4999.990.10



$5K - $14999.990.15



$15K - $49999.990.20



$50K-less than $100K0.30



$100K and more0.35
Hong Leong Finance Savings Account$500 - $499990.25



$50K - $2 million0.375
Citibank Maxisave AccountFrom $10000 & more0.15
RBS Millennium Savings AccountFirst $100000.0



Next $400000.125



Above $500000.150
Savings account rates subject to change without prior notice.



Readers should note the rates in savings account rates for June 2009 before you proceed to invest dollars in financial investments elsewhere. Savings account rates are correct up to end of last month.

The table above shows the current latest selected savings account rates for POSB, DBS, OCBC, UOB, Maybank, HSBC, HLF, Citibank and RBS savings accounts up to end of last month.

Thank you for reading Singapore Savings Account Rates where we compare the current latest Savings Account Rates for selected banks like POSB, DBS, OCBC, UOB, Maybank, HSBC, HLF, Citibank and RBS.

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