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Jun 28, 2008
Best HSBC Savings Deposits Interest Rates On Premier Account
With one hundred thousand Singapore dollars and more, you can earn an interest of 0.85% per annum on your Singapore dollar savings account when you open the HSBC Premier Account with Hong Kong and Shanghai Bank in Singapore.
If you have between $50000 to less than one hundred thousand dollars, your savings in your premier account can earn you an interest of 0.60% each year.
With the Singapore Straits Times Index and world stock markets heading south, secure your investments by re-positioning your portfolio into a savings account and perhaps some fixed deposit accounts to earn a decent interest rate on your hard-earned cash.
Jun 26, 2008
Are you looking for the best savings deposit interest rates? What is the highest savings deposit interest rates available in the current low interest rate environment? Where can you find the latest savings deposit interest rate that beats fixed deposits rates?
In uncertain times like these, is it better to lock up your money for a fixed term? Or would you prefer to earn better savings deposit interest rates yet retain the flexibility to use that money for higher yielding investments when the opportunity comes?
To answer questions like these and more on savings deposit interest rates, what you need is information. Where are the sources of information that you can obtain the answers you want and need?
Many sources of information exist on the Internet. Banks and financial institutions offer their latest savings deposit interest rates on line together with terms and conditions for using various savings accounts. You need to know what banks are out there, and painstakingly check out each site one at a time.
(2) Brick and Mortar
Walk into any bank and financial institution and you can speak to a financial adviser who can enlighten you on their best savings deposit interest rates. However, they may use that opportunity to cross sell financial products and badger you into submission.
(3) Ask your friends
Sources of tips and well meaning advice can come from your friends, families and people that you know who may have some ‘lobang’ on special promotions, campaigns and the latest savings deposit interest rates. You will need a wide network to derive meaningful results from such contacts.
Read the local newspapers for the latest bank and financial institution promotions that appear ever so often. Savings deposit interest rates in the form of fixed deposits are often advertised to attract new deposits this way. Children’s savings deposit accounts have been aggressively splashed in newspapers too. Not all promotions go through this channel and thus you may miss out on some great deals.
(5) Singapore Savings Account Rates blog
Here comes our shameless promotion on our website. Check out our latest and best savings account deposit interest rates where we do all the legwork for you. All you need to do is to check out our site for the best savings deposit interest rates whenever you have spare cash to deposit.
Thank you, dear readers, for supporting our efforts to bring you the latest and best savings account deposit interest rates in Singapore!
Tags: Singapore savings deposit interest rates
Jun 25, 2008
As part of our service to you, our dear readers, we continue to seek out the latest and best rates from banks and financial institutions throughout Singapore. Here are the latest Singapore Bank / Financial Institution savings account deposit interest rates for Hong Leong Finance (HLF) Singapore Savings Account and Savers Plus Account.
These savings accounts deposit interest rates are indicative and subject to change. Savings accounts deposit interest rates are correct as on 24 June 2008.
If you need more information on the best bank savings deposit interest rates, check here.
Jun 23, 2008
Source: Monetary Authority of Singapore's Monthly Statistical Bulletin May 2008 Volume 29 Number 5 (PDF format)
These tables show the latest interest rates data of banks and finance companies in Singapore for several years from 2003 to April 2008. These interest rates figures are for savings deposits (savings accounts) and fixed deposits. They are quoted from the top ten leading banks and finance companies in Singapore during the respective periods.
The latest average savings deposit interest rate was 0.24% p.a. in April 2008. What this means is that if you had chosen a savings account deposit rate that paid above 0.24% p.a., then you would have earned more interest than the average Singaporean in April 2008.
Even the highest average 12 month bank deposit was 0.71% p.a. and the highest average 12 month finance company deposit was 0.89% p.a.! Some financial institutions we have quoted in Singapore Savings Account Rates can pay up to 1.08% p.a. to even 2% p.a. at current rates without tying your cash into a fixed period.
The trend of low savings deposits interest rate is evident ever since 2003 when such records were kept. Nevertheless, we at Singapore Savings Account Rates strongly believe that with our research for the best savings account interest rates in Singapore, we can help you to make your money earn even more money, at above the national average interest rates for you.
Keep your eyes and ears close to Singapore Savings Account Rates, our blog to bring you the best and the latest in interest rates for savings deposit.
Standard Chartered Bank is offering the best rates for $50000 of deposit in the comparison of interest deposit rates we have published so far.
The interest deposit rates quoted are correct with effect from March 2008.
Check link here.
Best Baby Bonus Scheme Interest Rates For Singapore CDA Account
For Singaporeans who are eligible for the Baby Bonus Scheme, two banks in Singapore are offering very high savings deposit interest rates for the Children Development Account (CDA) to attract parents to sign-on. OCBC and Standard Chartered Bank are two banks, who won the right to take over from DBS Bank, offering some of the highest and best interest rates on the savings deposit in CDA deposit accounts that parents will open / transfer for their babies, kids and young children.
These promotional high deposit interest rates on Baby Bonus Scheme Children Development Account (CDA) on their savings deposit account are available at OCBC and Standchart only. Note that the rates apply for a limited time period only. Freebies and extras are also being offered to woo parents to sign up with them. For the current 107,000 CDA savings deposit account holders, this current state of interest rate competition is music to their ears.
The interest rates on children development account are shown here (in alphabetical order):
OCBC CDA Rate = 2.05% p.a. (1.00% p.a. + bonus rate of 1.05% p.a. )
OCBC website. Check here:
Standard Chartered Bank CDA Rate = 2.00% p.a.
Standard Chartered Bank website. check here:
Both these promotional interest rates for Baby Bonus Scheme Children's Development Account (CDA) will be valid from 1 August 2008 to 30 September 2008. Promotional interest rates are subject to change without prior notice.
We predict that the rates will not drop too much after this period as the banks still need to compete to get NEW baby bonus scheme parents on board. As a comparison, DBS gave an interest rate of 0.25% p.a. on the same baby bonus scheme for children development account (CDA).
Jun 22, 2008
- HONG LEONG FINANCE LIMITED
- SING INVESTMENTS & FINANCE LIMITED
- SINGAPURA FINANCE LTD
- AAREAL BANK ASIA LIMITED
- ABN AMRO ASIA MERCHANT BANK (SINGAPORE) LIMITED
- ANZ SINGAPORE LTD
- ASEAN FINANCE CORPORATION LTD
- AXIS BANK LIMITED
- BANK OF AMERICA SINGAPORE LIMITED
- BANK OF NOVA SCOTIA ASIA LTD, THE
- BANK PICTET & CIE (ASIA) LTD.
- BANK SARASIN-RABO (ASIA) LIMITED
- BARCLAYS MERCHANT BANK (SINGAPORE) LIMITED
- BNP PARIBAS CAPITAL (SINGAPORE) LTD
- BSI BANK LTD
- CALYON MERCHANT BANK ASIA LTD
- CBA ASIA LIMITED
- CIBC ASIA LTD
- CITICORP INVESTMENT BANK (SINGAPORE) LTD
- CLSA MERCHANT BANKERS LIMITED
- COMMERZBANK (SOUTH EAST ASIA) LTD
- CREDIT SUISSE (SINGAPORE) LIMITED
- DAIWA SECURITIES SMBC SINGAPORE LIMITED
- DB INTERNATIONAL (ASIA) LIMITED
- DEXIA BIL ASIA SINGAPORE LIMITED
- DNB NOR ASIA LTD
- DVB GROUP MERCHANT BANK (ASIA) LTD
- DZ BANK INTERNATIONAL SINGAPORE LTD.
- EFG BANK , SINGAPORE BRANCH
- FORTIS PRIVATE BANKING SINGAPORE LIMITED
- HSBC BANK USA, NA, SINGAPORE BRANCH
- HVB SINGAPORE LIMITED
- J.P. MORGAN (S.E.A.) LIMITED
List of Banks and Financial Institutions In Singapore
- BANK OF SINGAPORE LTD
- DBS BANK LTD
- FAR EASTERN BANK LTD
- ISLAMIC BANK OF ASIA LIMITED,
- THE OVERSEA-CHINESE BANKING CORPN LTD
- UNITED OVERSEAS BANK LTD
Foreign Full Banks
- ABN AMRO BANK NV
- AMERICAN EXPRESS BANK LTD
- BANGKOK BANK PUBLIC COMPANY LIMITED
- BANK OF AMERICA NATIONAL ASSOCIATION
- BANK OF CHINA LIMITED
- BANK OF EAST ASIA LTD,
- BANK OF INDIA
- BANK OF TOKYO-MITSUBISHI UFJ, LTD,
- BNP PARIBAS
- CIMB BANK BERHAD
- CITIBANK NA CITIBANK SINGAPORE LIMITED
- HL BANK
- HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE
- INDIAN BANK
- INDIAN OVERSEAS BANK
- JPMORGAN CHASE BANK, N.A.
- MALAYAN BANKING BHD
- PT BANK NEGARA INDONESIA (PERSERO) TBK
- RHB BANK BERHAD
- STANDARD CHARTERED BANK
- STATE BANK OF INDIA
- SUMITOMO MITSUI BANKING CORPORATION
- UCO BANK
- DBS Autosave = 0.25% p.a.
- FairPrice Plus = 1% p.a.
- Finatiq = 1% p.a.
- Maybank's Youngstarz = 0.5% p.a.
- NTUC Thrift Savings = 2% p.a.
- OCBC Easisave (with DC) = 0.4% p.a.
- POSB Savings = 0.25% p.a.
- UOB FlexiDeposit = 0.35% p.a.
If you can't find your favourite current savings account's latest interest rates, let us know.
Jun 20, 2008
At Singapore Savings Account Rates, we not only provide you with the latest interest rate movements and update you on the best interest rate for savings account, we also believe that empowering our readers with helpful tips like this article will go a long to way to improve the profits from a higher interest earned on savings accounts.
The 5-step process on how to choose the best savings account with the best interest rate is shown below:
Step 1 – Determine deposit amount
Confirm the best amount that you have available to put into the best savings account. This amount will help to narrow down the choices of some of the best savings account around. You will note later that this will ease the selection process of choosing the savings account with the best rates.
Step 2 – Compare interest rates
Obtain the latest and best interest rates on savings and investment accounts. Record down the best interest rates from the various financial institutions. Better still, list down the best rates you can find in a table for easier comparison to choose the one with the best rates.
Step 3 - Search for promotional deals
Sometimes banks and financial institutions may give out promotional gifts, besides offering the best rates in town. Determine what the gifts are. Because sometimes the goodies offered may be worth more than the additional fraction of interest gained from getting the best rates. Check to make sure you understand all conditions imposed and all details pertaining to such promotional deals.
Step 4 – Assess options
Consider all factors that affect your decision. Besides looking for the best interest rates on various savings accounts available, you need to consider other factors like proximity, convenience, counter service (if any), own transport to / from bank branch, service charges, minimum sums to maintain account and others. So do not make hasty decisions based solely on the best prevailing interest rate that is offered.
Step 5 – Make a decision
Finally, with input from all the above sources and comparing all the best rates for interesting earning savings accounts, make a decision. Once decided on the best savings account that suits your personal circumstances best, quickly get moving to open your savings account.
Good luck on choosing the best savings account with the best interest rate! [Tag: best savings account best interest rate, best savings account best interest rate, best savings account best interest rate, best savings account best interest rate]
Get The Best Interest Rates of 1% At Singapore's FairPrice Plus Savings Account
Get the best interest of 1% p.a. as interest rate payment on the very first dollar that you deposit into FairPrice Plus Savings Account. As of 20 June 2008, if you have small sums of money to deposit into a savings account in Singapore, this could be the best savings account interest rates deal for you. While the NTUC Thrift may pay more interest, they require you to join as union members with payment of membership fees.
There is no opening deposit required, no monthly service charge and no monthly balance needed to maintain this savings account. Best of all, you make your money work harder by earning interest from the first dollar that you deposit into this account. This account will certainly boost and maximize your savings account interest earnings. Check out the FairPrice Plus Savings Account to take advantage of the prevailing interest rates.
No passbook or bank counter service is issued for Fairprice Plus Savings Account. Thus the savings by the bank are passed to bank customers in the form of higher interest rates payment.
While you may feel that fixed deposits rates are better than savings account rates, bear in mind that there are no fixed period to lock up your money with the attendant penalties for premature withdrawal. With a savings account, you can withdraw cash from your savings account at any time without losing some money from paying penalties. Savings account is suitable for small amounts of say $10 to $10000. If you think you don't need the money urgently, you should consider putting spare cash in a fixed deposit to earn higher interest.
Check out the best interest rate of 1% for your savings account and make your money grow faster. Tags: best interest rates, highest interest rates, best of the best, highest of the highest
posted by Singapore Savings Account Rates blog
Jun 19, 2008
Bank of Singapore's Finatiq Investment Account Interest Rate at 1% Per Year
For a financial institution that calculates interest on a daily basis and credits the interest earned on a monthly basis, look no further than finatiq's account, a part of Bank of Singapore. It is an investment account that pays interest like a savings account. Even if you do not use the funds to invest in unit trusts or fixed deposits, you can park money to earn daily interest until you make a decision on how best to deploy your funds.
No minimum sum is required for your savings to start earning money. No lock-in period is imposed to earn interest on your Singapore dollar cash. There are no physical queues at the bank branch. All financial transactions are done via the internet. You receive account statements via electronic means.
Check out details at finatiq here.
Current interest rate stands at 1% per annum as of today 19 June 2008.
Maybank's Youngstarz Account Has Best Singapore Savings Account Rates For Children's First $3000
As of 19 June 2008, we have discovered that Maybank's Youngstarz Savings Account has the best and most attractive rates to park your children's first $3000.
Maybank's Youngstarz Savings Account rates are shown below:
You should check the conditions to use Maybank's Youngstarz Savings Account carefully before making any decision.
To open Maybank's Youngstarz Account, your child needs to be below 18 years old, you need a minimum deposit of $10 and maintain a minimum average daily balance of just S$500 to waive the $2 monthly service fee.
Additional benefits are available for the child and family in the Youngstarz Savings Account. See Maybanks' website for details.
Jun 16, 2008
Currently the best and highest rate for a Savings Account is available at NTUC Thrift. You can enjoy higher interest on your savings with a regular monthly savings plan via GIRO with NTUC Thrift.
The NTUC Thrift Savings Account Rates are below:
Conditions for obtaining these savings accounts rates at NTUC Thrift apply:
You must be a Thrift member
- above 18 years old
- join General Branch (fees apply)
- must be Singaporean or Permanent Resident
- not be bankrupt
The initial deposit required for NTUC Thrift Savings Account ranges from a minimum of $20 to a maximum of $1,000. The monthly savings by GIRO only ranges from a minimum of $20 to a maximum of $1,000.
There are no service fees for the savings account.
It is a convenient regular saving scheme.
Jun 14, 2008
Most Singaporeans start their financial life with a savings account courtesy of parents, educational institutions, civil service, national service or any other service providers who refuse to take your cash or want to pay you money without touching cash.
You may question why open a Singapore Savings Account when the rates are so low. Yes, the interest rates quoted by banks and financial institutions in Singapore are rather dismal. If you have the knowledge and financial resources, go ahead and plough your hard earned cash on accounts that can give you a higher rate of return.
There are still many Singaporeans who go around shopping for a simple savings account for various reasons. They may have shifted office or house and they need a more convenient branch to perform transactions. Some may want to collect freebies that banks may hand out during special promotions. You would have heard of banks asking for NEW funds for fixed deposits accounts. There are so many reasons why a Singapore savings account in its broadest term may be needed.
Here are several more reasons why we would need to open a Singapore savings account:
Savings account is safer than cash sleeping under the pillow in the home. There is no insurance for loss of cash that is resident at home in Singapore (unless you take out insurance cover).
Savings account held by individuals and charities is insured by the Singapore Deposit Insurance Corporation for up to $20,000 for each depositor under the Deposit Insurance Act.
Savings account pays you cash in the form of interest earned for every day that you keep it in the account in a Singapore financial institution.
Savings account can be a money-making temporary holding area while you decide how to invest your hard earned cash in other Singapore or foreign country investments.
Savings account can be linked by GIRO or internet banking to other banks or institutions for financial transactions like bill payment and crediting of salary while working in Singapore.
Savings account can provide use of ATM card for daily use at retail shops around Singapore.
Savings account can be the stepping stone to invest money in other higher interest earning accounts in Singapore's financial industry and even the world.
Savings account is one of the most basic banking service that everyone in Singapore should have.
Stay tuned while we compile Singapore Savings Accounts rates for comparison.
Make your money earn you more money!
(as at 14 June 2008)
(please check respective sites for latest rates)
These are the rates quoted by the three major local banks in Singapore. DBS, OCBC and UOB have rates that are very close to one another for the smaller sums of cash deposits.
Note that there are many other types of saving accounts provided by DBS, OCBC and UOB. The terms and conditions on use of the various saving accounts must be read carefully before choosing to open an account. Rates are only one aspect on the choice of opening or closing a savings account.
These are OCBC's savings account rates:
These are UOB's saving account rates:
Jun 13, 2008
We hereby announce the arrival of Singapore Savings Account Rates blog. This blog is an experiment by us to share with Singaporeans our passion to keep track of Singapore Savings Account Interest Rates. Most of you would be doing the same thing from time to time, checking savings account interest rates in the newspapers or internet or your bank. Here, we simplify that process for you by checking on the savings account interest rates in Singapore and presenting our interests and savings and all findings here.
We all love bargains when we see one. This is definitely one of those bargains you should enjoy! Keep our interesting blog within your radar and interest and return often to check on Singapore Savings Account Interest Rates. We SAVE you time, we SAVE you interest, we SAVE you money, we SAVE you effort. Why not make your savings account interests grow a little faster by keeping track of the latest and best savings account interest rates in Singapore!
Enjoy Singapore Savings Account Rates!
on behalf of common interest
Singapore Savings Account Rates blog
Jun 12, 2008
Many of the residential population of Singapore grew up with POSB Bank since we were young boys and girls. Through the years, we banked with them and got used to the POSB girls. From National Service days, we were required to open bank accounts with POSB. When we started work in the civil service, we had to submit our POSB account numbers to get our pay. Over the years, we link GIRO payments here and there. Before we realized, it got too complicated to terminate the links and close the account.
Enough of sentimental musing. In these days of a profit-driven economy, we should also start maximising our earnings from our hard earned savings. As a start, we should be aware of POSB has to offer.
Over the coming months, we shall update you, our dear readers, on the various interest rates offered for savings accounts in Singapore. Whenever there are promotions, we shall endeavour to update you as soon as possible.
We have no direct financial links with any bank or financial institution in Singapore, except as an individual banking customer like you. We are doing what everyone does: to obtain information on savings account interest rates in Singapore and comparing the rates. We take it a step further by publishing the information on the world wide web in an easy-to-read blog.
Before you get too excited about what a wonderful free service this is, we will say this only once. We disclaim all liabilities for acts of omission or commission. You read and use the information presented in this blog at your own risk. You are advised to seek financial advice for your own protection. In a nutshell, if the zero in the interest rate quote is in the wrong place, don't blame us if you lose money!
If you are still interested to know more about the savings account rates in Singapore, to learn where to earn an extra dollar or two for your hard-earned cash, to learn how to maximize interest payments and much more, book mark our blog now and return for more updates.
Get more money on your savings account in Singapore!
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