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Jul 14, 2017

Shopping For High Interest Deposit Accounts

Shopping For High Interest Deposit Accounts

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.

Want to go shopping for high interest Deposit Accounts? We look at some savings and deposit accounts available in Singapore today.

(1) Bank Savings Accounts

Pros: Earns daily interest. No lock-in period. May earn decent interest with 'hurdle accounts' (like credit card spend, salary credits, etc)

Cons: Remarkably one of lowest interest rates (except certain decent hurdle savings accounts.). Not insured above $50,000

(2) Bank Fixed Deposits

Pros: Relatively higher interest rates than simple savings accounts.
Cons: Long lock-in period. Not insured above $50,000

(3) Singapore Savings Bonds

Pros: 100% insured. Higher interest rates than savings accounts. May withdraw money before term completed.
Cons: Long lock-in period to maximize interest earned.

(4) Singapore Government Bonds

Pros: Fully insured. Higher interest rates.
Cons: Variable lock-in period of one year to 30 years.

(5) Money Market Funds

Pros: Higher interest rate. Very short lock-in period.
Cons: Principal not guaranteed. Fluctuating prices.

See also:
July 2017 Fixed Deposit Promotions

Highest Hybrid Singapore Savings Accounts 2017

(6) Under Own Pillow Or Bed

Pros: Pillow/ bed adjusted to one's desired height and firmness.
Cons: Zero interest earned. Theft, damage and loss. Questionable hygiene / odour from stained currencies.

Thanks for reading Singapore Savings Account Rates.

The Team

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