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The latest on Singapore Savings Account Rates:

May 30, 2017

6.00% p.a. Singapore Retirement Savings Account Rates

6.00% p.a. Singapore Retirement Savings Account Rates

Singapore Savings Account Rates blogspot dot com presents new update on savings and other banking accounts in Singapore today.

Singapore Savings Account Rates helps you to boost interest income from savings accounts, savings bonds and other financial retail investments in Singapore.



Interest Rate for Retirement Account (RA) in CPF:

The RA interest rate from 1 January 2017 to 31 December 2017 will be maintained at 4% per annum.

Extra Interest:

An extra 1% interest per annum is currently paid on the first $60,000 of a member’s combined balances (with up to $20,000 from OA).

Extra interest received on monies in the OA will go into the member’s SA or RA 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 combined balances, which includes the savings used for CPF LIFE.

Additional Extra Interest:

For CPF members who are aged 55 and above, an additional 1% interest per annum will be paid on the first $30,000 of their combined balances. 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.

These additional extra interest received on the OA will go into the member’s RA to enhance his or her retirement savings. If the member has participated 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.

source: CPF

See also:

High Yield Savings Accounts 2017

6% p.a. Singapore Retirement Savings Account Rates

Invest in 2.75% Singapore Government Bonds

Safest Singapore Fixed Deposit Rate

BOC Fixed Deposit Promotion Rates

No hurdle 1.35% iSavings Account

Singapura Blue Sky Savers update

Maybank iSavvy Savings Rate Update June-Aug 2017

New SCB Fixed Deposit Update June 2017

5% Savings Account For Kids

Thanks for reading Singapore Savings Account Rates.

The Team

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