UOB Flexi Deposit Account

UOB Flexi Deposit Account

UOB Flexi Deposit Account is a Singapore savings account that provides regular statements for your savings account. UOB Flexi Deposit Account allows you to earn attractive interest rates. With full banking facilities of a transactional savings account, the UOB Flexi Deposit Account provides easy access to your savings account whenever required.

UOB Flexi Deposit Account's website flyer claims that it provides attractive interest rates that are close to Singapore Dollar Time Deposit interest rates. Best of all, UOB Flexi Deposit Account offers flexibility without being locked-in for a fixed tenure.

Other plus points for the UOB Flexi Deposit Account: all-round convenience withthe UOB VISA Electron Card - a debit card that allows you access to your cash at over 780,000 ATMs and to sign for your purchases at over 12 million VISA Electron merchants worldwide.

Account holders of UOB Flexi Deposit Account can access their FlexiDeposit Account through UOB Personal Internet Banking and 24-hour phone banking services.

Access to UniAlerts in the UOB Flexi Deposit Account will alert you on your banking activities via email or mobile phone.

You can also enjoy hassle-free monthly funds transfers to your UOB Flexi Deposit Account from your account with UOB or with other financial institutions. To enjoy this service, simply fill up a GIRO form.

Note the requirements to open UOB Flexi Deposit Account. You need to be at least 21 years old and start with an initial deposit of S$5,000.

How much does UOB Flexi Deposit Account cost? There is a S$2.00 minimum balance fee that will be charged if your average daily balance in the UOB Flexi Deposit Account for the month is less than S$3,000.

The latest and best UOB Flexi Deposit Account interest rates:
Principal / Percent per annum interest rate
First S$15,000 = 0.3500
Next S$85,000 = 0.4500
Next S$200,000 = 0.6500
Above S$300,000 = 0.7500

The interest rates may appear unattractively low when compared to Singapore Fixed Deposits and Singapore Treasury Bills. For peace of mind with your savings in a stable and secure local big three bank in Singapore, this UOB Flexi Deposit Account rates may be palatable for some savings account depositors.

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DBS Savings Plus Account

DBS Savings Plus Account
source: DBS website.

Today in Singapore Savings Account Rates blog, we highlight a savings account of one of the big three local banks in Singapore. The DBS Savings Plus Account is a savings account that earns you daily interest on your deposits. What makes it the ‘plus’ account is that this savings account comes bundled with a bankcard.

The major feature of the DBS Savings Plus Account that differentiates it from a normal savings account is the DBS BankCard feature. This bankcard is activated instantly when you apply.

In Singapore, the DBS BankCard lets you access over 800 DBS/POSB ATMs and 12,500 NETS outlets. Overseas, you can withdraw cash at over 180,000 PLUS ATMs and enjoy cashless shopping at about 240,000 retail outlets that display the VISA Interlink sign.

The DBS Savings Plus Account offers self-service banking facilities. This saves time and you can do your banking at ATMs, Cash Deposit Machines and Quick Cheque Deposit Boxes or via Phone Banking and iBanking services.

The other feature of DBS Savings Plus Account is the standard ATM services that are similar to other banks in Singapore. These are:
Cash Withdrawal
Account Balance Enquiry
Funds Transfer
Bill Payment
Electronic Share Application (ESA)
Telco Top-Up/Purchase
PIN change/Application
Cashline Application
Electronic Payment for Shares (EPS)

DBS Savings Plus Account allows you to use the Cash Acceptance Machine Services to deposit cash into your account without queuing at a bank counter. These machines allow depositors to cash deposit in 3 different denominations (S$10, S$50 and S$100). The maximum of 100 notes per deposit applies. Depositors can cash deposit into own account as well as other DBS/POSB accounts.

Do not forget that there are fees for using DBS Savings Plus Account. There is a S$2 fall-below fee if the average daily balance falls below S$500.

DBS Savings Plus Account requires that depositors must be at least 12-years-old. The minimum initial deposit is S$500 to open a DBS Savings Plus Account.

For Singapore Savings Account Rates readers, we know you are mainly interested in the interest rates of the DBS Savings Plus Account. What are the interest rates?

DBS Savings Plus Account Interest Rate:
Amount / Percent Per Annum
First $3000 0.2500
Next $47000 0.2750
Next $50000 0.3750
Remaining balance above $100000 0.4750

While the interest rates may appear unattractively low when compared to rates for Singapore Fixed Deposits and Singapore Treasury Bills, those who want safety and stability in a bank in light of financial turmoil in global banks, may wish to bank with confidence on this DBS Savings Plus Account.

Read more in Singapore Savings Account Rates.