FairPrice Plus Savings Account Rates

FairPrice Plus Savings Account Rates

What is the latest and best FairPrice Plus savings account rates in January 2010? That is the answer that we seek at Singapore Savings Account Rates as we inspect the FairPrice Plus Savings Account this January day.

Some things to note about the FairPrice Plus savings account:

Competitive interest rates from the very first dollar;
No opening deposit is required;
No minimum monthly balance to maintain and No monthly service fee.

Take note too that FairPrice Plus Savings Account rates are shown for your information. Before you consider investing cash in stocks, shares, bonds, unit trusts or other banking products, ensure that you re-confirm the savings account rates with bank concerned.

FairPrice Plus Savings Account rates are also subject to change without notice at the absolute discretion of the respective bank.

Here are the latest and best FairPrice Plus savings account rates.

FairPrice Plus Savings Account Rates:

Amount | Rate (% p.a.)

First S$50,000 = 0.30

From S$50,001 to S$500,000 = 0.60%

(Subject to maximum deposit of S$500,000)

Rates are provided for information only and not as inducement or recommendation to use the account. We disclaim all liabilities. You take 100% risk and 100% sole responsibility for any investing decision you make based on what you read here.

If you can live with that, continue reading Singapore Savings Account Rates.

We shall return in 2010 to bring you more of the latest and best selected Singapore savings account rates.

The Team
Singapore Savings Account Rates.

CPF Life

CPF Life

The Sunday Times published a front page article on Singapore's CPF Life payout today on 3 January 2010.

Singapore Savings Account Rates read that article and extracted some nuggets on CPF Life scheme and CPF Life payout data.

For those not in the loop, CPF Life is an annuity scheme. CPF Life is the acronym for Central Provident Fund Lifelong Income Scheme For The Elderly. You can read more about it in our earlier CPF Life post here.

In the newspaper article, the actual CPF Life account payout rates were not released. Only CPF Life payout sums were mentioned. The monthly CPF Life payout amount depends on factors like CPF Life account balance, gender, age, plan chosen.

37,000 members have opted for the CPF Life scheme, putting in SGD $1.5 billion. Highest CPF Life payout amount is $1040 a month.

72 per cent of those who signed up for CPF Life qualified for the L-Bonus and 74% qualified for the V-Bonus.

The CPF Life L-Bonus of up to $4000 is given to the first five cohorts who sign up for CPF Life. The L-Bonus amount depends on member's income level and annual home value.

The CPF Life V-Bonus of up to $1800 is given to members who voluntarily defer drawing down their minimum sum.

Government will be giving out $80 million in L-Bonus and V-Bonus in this CPF Life scheme.


Thanks for reading Singapore Savings Account Rates, where we bring you the latest and best selected Singapore savings account rates.

The Team
Singapore Savings Account Rates.