DBS MySavings Account Interest Rates

DBS MySavings Account Interest Rates

Singapore Savings Account Rates presents DBS MySavings Account Interest Rates this May 2010.

DBS MySavings account interest rates are shown for your information only. Before you consider investing savings account cash, ensure that you re-confirm the DBS MySavings account interest rates with bank concerned.

DBS MySavings account interest rates subject to change without notice at the absolute discretion of the Singapore bank.

DBS MySavings Account Interest Rates:
Deposit Sum | Interest Rate in % per annum
$50 - $290= 0.125
$300 - $790= 0.4
$800 - $1,490= 0.4
$1,500 - $3,000= 0.4

DBS MySavings account interest rates are the same for Treasures and Non-Treasures customers.

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My Savings Account Rates

My Savings Account Rates of POSB Bank

Take note of new MySavings Account Rates of POSB Bank which was declared by POSB on 1 July 2009.

List of My Savings Account Rates of POSB Bank:

For monthly savings amount of:
$50 to $290 = 0.125%
$300 to $3000 = 0.400%

Treasures bank account holders get the same savings account rates for MySavings Account as ordinary bank depositors. There is no extra interest payment for Treasures customers from 1 July 2009.

My Savings Account Rates of POSB Bank was brought to you by Singapore Savings Account Rates blogspot.com.

DBS MySavings Account

DBS MySavings Account

Image: DBS MySavings Account interest rates.

We have updated the latest interest rates for DBS MySavings Account for the month of April 2009, a monthly savings account that pays higher interest on your savings account.

DBS MySavings Account works best for investors who can set aside a regular sum of financial savings every month. While the amount of interest earned may not beat inflation, the DBS MySavings Account pays more than those bread-and-butter savings accounts.

DBS MySavings Account offers smart investors an interest rate of 0.60% per annum, provided you put in at least $1500 Sing dollars every month into the MySavings Account. Even if you can only bank in $40 every month, you will receive an interest rates of 0.40% p.a. on this amount that is banked into DBS MySavings Account.

POSB MySavings Account (MSA) Offers Up To 1.5 Per Cent Interest Rate

POSB MySavings Account (MSA) Offers Up To 1.5 Per Cent Interest Rate

My, my! This is truly a unique savings account worth consideration. To earn POSB MySavings Account (MSA) savings interest rate of up to 1.5% per annum, you need make new savings deposits with a sum of $1500 every month.

Yes. Cash of $1500 to be deposited into POSB MySavings Account (MSA) every single month. You have to get hold of that sum of money (presumably from your salary or other sources of earnings) and put it into POSB MySavings Account (MSA) monthly on a regular basis to earn these savings rates.

The moment you deduct some savings and cash from POSB MySavings Account (MSA), your savings interest earned will drop to the next lower tier of interest rate for the savings deposited. This way, you are forced to “save” your savings every month. In effect, it is equivalent to a regular investment. In POSB MySavings Account (MSA), you have to keep on 'saving' (putting money into the account) to chase after that 1.5 per cent interest earning for this POSB MySavings Account (MSA).

There is a also a POSB MySavings Account Kids MSAKids Account where you need to have a child older than 5 years old belonging to you, whose name you can use to start this POSB MySavings Account (MSA) to earn one of the best savings rates in the Singapore bank savings account market.

The minimum savings sum to put into POSB MySavings Account (MSA) per month is $50. This sum earns you savings interest of 0.45% which is not bad compared to the standard POSB Savings Account.

There is no bank savings account opening charge, bank account closing charge and maintenance charges for POSB MySavings Account (MSA) in Singapore.

You can earn even higher savings interest rate of of 1.6% for POSB MySavings Account (MSA) but this is applicable only to Treasures Bank Depositors (who need to be savers with plenty of cash to deposit).

POSB MYSAVINGS ACCOUNT (MSA)
(Interest rate is based on the Monthly Savings Amount)
FOR MONTHLY SAVINGS AMOUNT$50 - $290 0.4500
$300 - $790 1.0000
$800 - $1,490 1.2000
$1,500 - $3,000 1.5000

POSB MYSAVINGS ACCOUNT (MSA)
(TREASURES PREFERENTIAL INTEREST RATES)
(Interest rate is based on the Monthly Savings Amount)
FOR MONTHLY SAVINGS AMOUNT
$50 - $290 1.3000
$300 - $790 1.4000
$800 - $1,490 1.5000
$1,500 - $3,000 1.6000

Recommendation To Maximise Use of POSB MySavings Account (MSA)
As a short term way to boost your interest income, one option is to take money from another bank savings account of yours and 'deposit' it into the POSB MySavings Account (MSA) monthly to 'earn' one of the best interest rates on savings account in Singapore. Once you find another deposits account that pays more (check http://Singapore-Fixed-Deposits.com for even higher rates), you can then switch out of POSB MySavings Account (MSA) to make your hard-earned money earn even more money.

For more details on POSB MySavings Account (MSA), check DBS's POSB website.

Check the latest Singapore Savings Account Interest Rates.

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Singapore Savings Account Rates