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.