Features of Savings, Current, Fixed Deposits Accounts

Features of Savings, Current, Fixed Deposits Accounts

Some readers have asked Singapore Savings Account Rates through e-mail about the differences between savings account, current account and fixed deposits account. What these readers want to learn is the feature(s) of each type of banking account.

We shall highlight the three main types of bank accounts that almost everyone will need. These are Savings Account, Current Account and Fixed Deposit Account. Features of each of these bank accounts are tabulated here:

source: MoneySense resource publication

How do you decide on which savings, current or fixed deposits account to open and use? Which type of savings, current, fixed deposits account is better or the best? What are the terms and conditions to use each of the savings, current and fixed deposits accounts?

For these questions on savings, current and fixed deposits accounts, check out details available from:

1) Booklet produced by the Association of Banks in Singapore from the MoneySense website (pdf).

2) Compare Savings Account and Fixed Deposits discussion.

Thank you for reading Singapore Savings Account Rates.

Highest and Best UOB Savings Account Interest Rates Promotion

Highest and Best UOB Savings Account Interest Rates Promotion

For a limited period only, UOB is offering 200% more on your UOB Passbook Savings Account interest rates. Get up to 1.025% (Yes, one point zero two five percent = this is not a typo error) on your deposits in the UOB Passbook Savings Account from 1 November 2008 to 31 January 2009.

This kind of high saving interest rate on a Singapore savings account is unheard of, at least not in recent years. This is the best deal and best promotion for a savings account from one of the big three local banks in Singapore.

Even if you do not have $100,000 in a UOB savings account to get this good deal of 1.025%, you can still get a very decent interest rate of 0.8% with $3000 only in this savings account promotion!

How about the other banks' savings account rates in Singapore? Will we see a savings account interest rate war break out on the local banking scene? Will another bank top this highest and best interest rate on a savings account soon?

Stay tune to Singapore Savings Account Rates where we monitor Singapore banks savings account interest rates to bring you the best and the latest interest rates in Singapore!