SRS Account Interest Rates
In Singapore, investors and savers can open Supplementary Retirement Scheme (SRS) accounts to save for their old age use. Three local banks offer Supplementary Retirement Scheme (SRS)accounts. They are DBS, OCBC and UOB banks.
SRS Account interest rates normally follow the various banks basic savings account rates. You can also put your SRS account money into time deposits, or fixed deposits to get higher interest rates for your Supplementary Retirement Scheme (SRS) account.
All SRS contributions are to be made in cash at any time before 31st December each year.
The amount of contribution is subject to a cap. The SRS contribution cap is based on a common absolute cap of $76,500 i.e. 17 months of the prevailing CPF salary ceiling of $4,500. This amount is 15% of $76,500 or $11,475 for Singaporeans and Permanent Residents, and 35% of $76,500 or $26,775 for foreigners.
In Singapore, investors and savers can open Supplementary Retirement Scheme (SRS) accounts to save for their old age use. Three local banks offer Supplementary Retirement Scheme (SRS)accounts. They are DBS, OCBC and UOB banks.
SRS Account interest rates normally follow the various banks basic savings account rates. You can also put your SRS account money into time deposits, or fixed deposits to get higher interest rates for your Supplementary Retirement Scheme (SRS) account.
All SRS contributions are to be made in cash at any time before 31st December each year.
The amount of contribution is subject to a cap. The SRS contribution cap is based on a common absolute cap of $76,500 i.e. 17 months of the prevailing CPF salary ceiling of $4,500. This amount is 15% of $76,500 or $11,475 for Singaporeans and Permanent Residents, and 35% of $76,500 or $26,775 for foreigners.
Selected examples of SRS Account use in savings and time deposits / fixed deposits accounts:
SRS Account placed in OCBC SRS Time Deposits or Fixed Deposits:
SRS Account Interest Rates placed in DBS SRS Accounts
SRS Account Interest Rates placed in UOB SRS Accounts
Speak to your bank officer for a detailed discussion and latest quotation for your supplementary retirement scheme (SRS) account investment needs.
Follow Singapore Savings Account Rates for the latest and best savings and SRS account rates in Singapore.
No comments:
Post a Comment