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Aug 1, 2016

5% Returns From Safest Savings Account

5% Returns From Safest Savings Account

Yes, that's right. Get 5% return when you put money into this savings account in Singapore. Perfectly legitimate. Extremely safe. Lowest risk of default. How? Read on ...

Singapore Savings Account Rates blogspot dot com is the online presence that shares the best, the latest and the most up-to-date 2016 Singapore savings account rates and savings bond rates in Singapore.

Singapore Savings Account Rates helps you to earn cash from savings accounts, savings bonds and other financial investments in Singapore.

2016 Singapore savings accounts rates are quoted for personal use only. Always check interest rates with the respective banks and/or fixed income investment companies before you invest your money.

CPF Interest Rates from 1 April 2016 to 30 June 2016

 Up to 3.5% per annum on the Ordinary Account

 Up to 5% per annum on the Special and Medisave Accounts

 CPF members aged 55 and above will earn an additional 1% extra interest on the first $30,000 of their combined balances

Central Provident Fund (CPF) members will continue to earn interest rates of up to 3.5% per annum on their Ordinary Account (OA) monies, and up to 5% per annum on their Special and Medisave Accounts (SMA) monies in the second quarter of 2016. These interest rates include an extra 1% interest paid on the first $60,000 of a member’s combined balances (with up to $20,000 from the OA) which is part of the Government’s efforts to enhance the retirement savings of CPF members.

CPF members aged 55 and above will also earn an additional 1% extra interest on the first $30,000 of their combined balances from January 2016. This is paid over and above the current extra 1% interest that is earned on the first $60,000 of their combined balances. As a result, CPF members aged 55 and above will earn up to 6% interest per year on their retirement balances.

The extra interest received on the OA will go into the member’s SA or Retirement Account to enhance his or her retirement savings. If a member is above 55 years old and participates in the CPF LIFE scheme, the extra interest will still be earned on his or her combined balances, which includes the savings used for CPF LIFE.



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The Team

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