Protect Your Savings Account 1

Protect Your Savings Account (Part 1)

In times of economic recession, every Singapore cent and Singapore dollar that you save will go a long way to ride out the stormy economic weather. While there appears to be green shoots of recovery in parts of the world, there are still many uncertainties on the path to economic recovery. At Singapore-savings-account-rates.blogspot.com, we understand your concerns as we are also banking customers stuck in a recession just like you.

The last thing you want to see is to lose your hard-earned money without any precautionary plans to protect your savings account. We have prepared the following steps that you can take to protect your savings account.

So how can you protect your savings accounts? Let Singapore Savings Account Rates show you some ideas.

Protect Your Savings Account(1)
Ensure deposit insurance.

Check that your bank or financial institution, whether foreign-owned or local-owned, is covered by the Deposit Insurance Scheme and the Singapore Government Guarantee on Deposits. At the present time, our deposits are guaranteed until the end of the year 2010.

After the insured period ends, check that the amount in your deposits are fully covered by revised insurance terms.

Do not put money into deposits with syndicates that are not accredited, or those that deal with loan sharks and other illegal activities. Those are a definite no no.

Do not just concentrate on getting the highest and best savings account interest rates in Singapore. How you take care of your savings account has a great impact on your likelihood of losing money.

We hope this simple step, of the many more that we will share, will protect your savings account and your hard-earned money.

Thanks for reading Singapore Savings Account Rates.

Business Savings Account

Business Savings Account

In today's discussion at Singapore-Savings-Account-Rates.blogspot.com, we ask,"Are there business savings accounts in Singapore?"

If you are a sole proprietor, a partner in a partnership or a director in your own company, what business savings accounts can you deploy to make your money work harder for you? Let Singapore-Savings-Account-Rates.blogspot.com help you answer this business savings account related question.

If you are looking for a business account that pays regular interest (like a personal savings account) for a bank account for your business, firm or company, you would be disappointed.

We, at Singapore-Savings-Account-Rates.blogspot.com, can't find any business savings account that performs like a regular personal savings account.

As a sole proprietor, you may use your own personal savings account for all your business expenditure and business revenue. If you set up a business current account in the name of your business, there is no interest earned on such business current account.

There are many types of business accounts offered by banks in Singapore for a firm, partnership, business or company. These business accounts come with various features depending on the business' requirements and financial transaction needs.

You should check with the local banks like DBS, OCBC or UOB, or any of the foreign-owned banks operating in Singapore for in-depth discussions on your business account requirements.

We will keep a look-out for business savings account. Once we obtain news on such business savings account, we will update Singapore Savings Account Rates.