Happy Labour Day from Singapore Savings Account Rates

Happy Labour Day

from

Singapore Savings Account Rates

We wish all our readers in Singapore,

a very happy public holiday

on

Labour Day!

Note that while you are on holiday,
your money in a savings account
keeps earning interest
throughout the holiday!

The Team
Singapore Savings Account Rates

Sg Savings Deposit Interest Rates April 2009

Sg Savings Deposit Interest Rates
For Month of April 2009

Sg Savings Deposit Interest Rates
Sg Savings Deposit Account	Amount in Sg $	Rate % Per Annum
POSB Passbook Savings	First $3000	0.25
	Next $47000	0.250
	Next $50000	0.325
	Above $100000	0.400
DBS Autosave (Per) Savings	First $3000	0.125
	Next $47000	0.175
	Next $50000	0.325
	Above $100000	0.40
OCBC Savings Debit Account	First $10000	0.125
	$10001 - $50000	0.175
	$50001 - 250000	0.325
	More than $250K	0.400
UOB FlexiDeposit Account	First $15000	0.15
	Next $85000	0.25
	Next $200K	0.35
	Above $300K	0.45
Maybank iSavvy Savings	< $5000	0.25
	$5K -less than $50K	0.50
	$50K and more	0.75
HSBC Premier Savings	First $4999.99	0.10
	$5K - $14999.99	0.15
	$15K - $49999.99	0.20
	$50K-less than $100K	0.30
	$100K and more	0.35
Hong Leong Finance Savings	$500 - $49999	0.25
	$50K - $2 million	0.375
Citibank Maxisave Account	From $10000 & more	0.15
RBS Millennium Savings	First $10000	0.0
	Next $40000	0.125
	Above $50000	0.150
Sg Savings rates subject to change without prior notice.

Summary: Before you proceed to invest dollars in financial investments elsewhere, note the adjustments in Singapore (Sg) bank savings deposit interest rates have taken place in April since our last update.

We present a summary of the current latest selected Singapore Sg bank savings interest rates for POSB, DBS, OCBC, UOB, Maybank, HSBC, HLF, Citibank and RBS as in the table above.

Thank you for reading Singapore Savings Account Rates' comparison of current latest Singapore Sg Bank savings deposit interest rates for POSB, DBS, OCBC, UOB, Maybank, HSBC, HLF, Citibank and RBS for the month of April 2009.

Banks Cut Deposits Interest Rates Page 2

Banks Cut Deposits Interest Rates Page 2

A copy of The Straits Times published on 3 March 2009:

Investors looking for financial investments that can beat savings account interests rates should go ahead and invest elsewhere. Savings accounts are meant for money that needs to be placed in a safe, secure environment that allows easy banking.

If you are looking to park your hard-earned cash savings in Singapore banks, read more in Singapore Savings Account Rates.

Banks Cut Deposits Interest Rates Page 1

Banks Cut Deposits Interest Rates Page 1

A copy of The Straits Times published on 3 March 2009:

With the drop in interest rates in Singapore, investors looking for good-value investments should not park too much money in savings accounts. Investors should look for high yield investments elsewhere for investing.

Thank you for reading Singapore Savings Account Rates.

Wishing all Singapore Savings Account Rates Readers a Happy Lunar Year

Wishing all Singapore Savings Account Rates Readers a Happy Lunar Year !

With the goodies dished out to savings accounts recently in the 2009 Budget, we hope the Year of the Ox will turn into a prosperous new year for everyone.

Thank you for your tremendous support.

The Team

Singapore Savings Account Rates

Baby Savings Accounts

Baby Savings Accounts

What is a Baby Savings Accounts?

It is a savings account that you can open for your child from the time of birth. You can withdraw and deposit cash into this Baby Savings Account.

The unique feature of such a Baby Savings Account is that it usually comes with an insurance cover for the child and yourself, up to a certain age. The amount of insurance cover depends on the bank and the amount of deposit to place in the Baby Savings Account.

Once your baby reaches adulthood or earlier, you can convert the Baby Savings Account into a standard savings account in his or her own name.

Where can you find a Baby Savings Account in Singapore?

All the local banks and some foreign banks and financial institutions.

Are the Baby Savings Account interest rates high?

It depends. Most banks offer about the same rates as ordinary savings accounts. The attractive component lies in the insurance cover and some sign-on free gifts to entice parents.

How do I find out more about Baby Savings Accounts?

You can check the various bank websites. Singapore Savings Account Rates will highlight such Baby Savings Accounts in the near future.

Happy 2009 To Singapore Savings Account Rates Readers

Happy 2009 To Singapore Savings Account Rates Readers

Thank you readers of Singapore Savings Account Rates! Your support in 2008 has encouraged and energised our team for the year 2009.

We shall continue to bring you more savings account interest rates of Singapore banks and financial institutions in the days ahead in 2009.

Keep reading our Singapore Savings Account Rates throughout 2009 for the latest and best news on selected savings interest rates the year 2009 has to offer.

We wish all our savvy readers a happy new year and a prosperous 2009!

The Team
Singapore Savings Account Rates

Savings Account Interest Rate Specialist

Savings Account Interest Rate Specialist

Singapore Savings Account Rates is dedicated to be a savings account interest rate specialist. We specialize in bringing you selected savings account interest rates for Singapore banks and financial institutions. Like specialists, our forte is to give you some of the latest savings account interest rates that are on the market.

We thank readers who have sent emails with good suggestions and comments to Singapore Savings Account Rates. Keep sending those encouraging emails about savings account interest rates and we will strive to reply with our specialist insight.

If your bank or finance institution would like to promote your latest savings account interest rates to our readers in a cost effective manner, send us interest rates deals and details. There are many readers of Singapore Savings Account Rates who are keen to sniff out a great promotional rate.

Thanks to all our readers for visiting, reading and recommending Singapore Savings Account Rates! Have a great new year ahead!

Making Sense of Your Singapore Savings Account

Making Sense of Your Singapore Savings Account

We know you pay attention to the amount of interest that your bank offers depositors. We know that you compare these interest rates closely between banks to get the best Singaproe savings account deal.

Once you've found the savings account that pays you the best rates in Singapore and made the deposit, do you leave the bank statements aside while you look for better savings account rates?

A Singapore bank savings account allows you to make payments and financial transactions. Your bank will send you a consolidated statement of your savings account showing your transactions every month.

You should take time to verify the correctness of all details contained in each statement of account. We highlight the good stuff that MoneySENSE brings you through information (PDF) in a Singapore bank savings account statement.

Pay particular attention to the statements printed in your Singapore savings account to ensure that the correct interest rate amount is credited to your savings account at the end / start of each year. If you don't check, it could be your loss.

Merry Christmas

Singapore Savings Account Rates

takes this opportunity

to wish all our readers

Merry Christmas !

Tax-Free Savings Account

Tax-Free Savings Account

In Singapore, interest earned from savings account is tax-free. According to the Inland Revenue Authority of Singapore (IRAS), interest received from deposits with approved banks or licensed finance companies in Singapore on or after 1 Jan 2005 is not taxable.

You do not need to declare interest that is not taxable.Thus, interest earned from savings and fixed deposits from approved banks and financial institutions in Singapore is free of tax.

To check if a bank is an approved bank for the purpose of getting tax-free earned interests:

1. Visit MAS website
2. Click on 'Commercial Banks' and 'Merchant Banks'.
All banks listed on these two pages are approved banks.

To view the list of licensed finance companies to get your tax-free interests:

1. Visit MAS website
2. Click on 'Finance Companies'.
All companies listed on this page are licensed finance companies.

When is interest earned from savings accounts not tax-free?
Interest from the following sources is not tax-free

· Deposits with non-approved banks
· Deposits with finance companies not licensed in Singapore
· Pawnshops
· Loans to companies, persons etc.

How to report if interest earned is not tax-free?
You need to declare the full amount of your taxable interest under 'other income' in your tax form.

As interest earned from savings account is quite little, you should put money in approved banks and financial institutions that offer tax-free interests to save you from paying unnecessary tax.

Singapore Savings Account Rates Deepavali Greetings

Singapore Savings Account Rates Deepavali Greetings

We wish all our avid readers, supporters and well wishers a very prosperous and happy Deepavali holiday.

Thank you for your tremendous support of Singapore Savings Account Rates.

We will do our best to bring you the latest and the best savings account rates in Singapore.

Best Singapore Savings Account Rates: Bank of Singapore

Best Singapore Savings Account Rates: Bank of Singapore

For depositors looking for one of the best Singapore savings account rates, Bank of Singapore is offering its best interest rates for Singapore investment and savings account of 1% per annum. This Bank of Singapore investment and savings account rate works best from the very first dollar that you deposit into the Bank of Singapore's Finatiq investment (individual) account.

This is one of the best rates around to make your savings work harder. Depositors will find not many other banks offering these best rates for Singapore savings account locally. Most banks in Singapore offer best rates of about 0.25 per cent to 0.35 per cent per annum for sums less than one thousand dollars. You can best maximise your earnings from Bank of Singapore's interest rates currently.

One of the best features of this account is that interest is calculated daily and credited monthly into your Finatiq investment account. Other best of the lot features include no queue at the bank, no monthly charges and no cap on the amount you can deposit.

Best of all, you can link your Bank of Singapore account to other Singapore bank savings accounts in your name to make fund transfers. If you want to get the best out of this account, you can open Singapore fixed deposits to make your money work harder for you from the higher interest rates from FDs.


Follow this link to Bank of Singapore to check for the best Singapore savings account rates.

If you prefer, subscribe for FREE to Singapore Savings Account Rates to be updated on the best interest rates in Singapore's savings account scene.

Thank you for reading Singapore Savings Account Rates.

Best regards,

The Team
Singapore Savings Account Rates

Latest Bank Savings Account Deposits Interest Rates July 7, 2008

Latest Bank Savings Account Deposits Interest Rates July 7, 2008

7th July 2008

Summary: No change to bank savings account deposits interest rates from last week.

Dear readers, thank you for visiting Singapore Savings Account Rates blog for the current, latest, best and highest Singapore bank deposits interest rates. Today on 7 July 2008 at Singapore Savings Account Rates blog, we present a summary of the current latest best and highest Singapore Bank deposits interest rates for DBS, OCBC, UOB, Maybank, HSBC, HLF and Citibank:

Bank = DBS Autosave (Personal)

First $3000 0.25%

Next $47000 0.35%

Next $50000 0.45%

Above $100K 0.60%



Bank = OCBC Bank Savings (With Debit Card)

First $10000 0.25%

From $10001 to $50000 0.35%

From $500001 to $250000 0.40%

Above $250K 0.65%



Bank = UOB FlexiDeposit Account

First $15000 0.35%

Next $85000 0.45%

Next $200K 0.65%

Above $300K 0.75%



Bank = Maybank iSAVvy Account

Less than $5000 0.25%

$5000 to below $50000 0.88%

$50000 and more 1.18%

Interest-on-interest every 6 months * 6.0%

average balance at least $50000



Bank = HSBC Premier Account

First $4999.99 0.15%

From $5000 to $14999.99 0.2%

From $15000 to $49999.99 0.35%

From $50000 to $99999.99 0.6%

From $100,000 and more 0.85%



Bank = HLF (Hong Leong Finance) Savers Plus

$500 to $49999 0.25%

$50000 to $2 million 0.375%


Bank = Citibank Singapore

(only time deposit rates available)


Stay tuned as we shall update this list of current latest best and highest Singapore Bank deposits interest rates for DBS, OCBC, UOB, Maybank, HSBC, HLF and Citibank:



Tags: Current, Latest, Best and Highest Singapore Bank Deposits Interest Rates

Latest Hong Leong Finance (HLF) Singapore Savings Deposit Interest Rates

Latest Hong Leong Finance (HLF) Singapore Savings Account Deposit Interest Rates

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.

Finatiq Investment Account Interest Rate At 1% Per Year

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.

Singapore's DBS, OCBC, UOB Savings Account Rates

Singapore's DBS, OCBC, UOB Savings Account Rates
(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:

POSB Passbook Interest Rates

For accuracy, check details over here.

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!