Singapore Savings Account Rates

May 30, 2017

6.00% p.a. Singapore Retirement Savings Account Rates

Singapore Savings Account Rates blogspot dot com presents new update on savings and other banking accounts in Singapore today.

Singapore Savings Account Rates helps you to boost interest income from savings accounts, savings bonds and other financial retail investments in Singapore.

Interest Rate for Retirement Account (RA) in CPF:

The RA interest rate from 1 January 2017 to 31 December 2017 will be maintained at 4% per annum.

Extra Interest:

An extra 1% interest per annum is currently paid on the first $60,000 of a member’s combined balances (with up to $20,000 from OA).

Extra interest received on monies in the OA will go into the member’s SA or RA to enhance his or her retirement savings. If a member is above 55 years old and participates in the CPF LIFE scheme, the extra interest will still be earned on his combined balances, which includes the savings used for CPF LIFE.

Additional Extra Interest:

For CPF members who are aged 55 and above, an additional 1% interest per annum will be paid on the first $30,000 of their combined balances. This is paid over and above the current extra 1% interest that is earned on the first $60,000 of their combined balances. As a result, CPF members aged 55 and above will earn up to 6% interest per year on their retirement balances.

These additional extra interest received on the OA will go into the member’s RA to enhance his or her retirement savings. If the member has participated in the CPF LIFE scheme, the extra interest will still be earned on his or her combined balances, which includes the savings used for CPF LIFE.

source: CPF

See also:

High Yield Savings Accounts 2017

6% p.a. Singapore Retirement Savings Account Rates

Invest in 2.75% Singapore Government Bonds

Safest Singapore Fixed Deposit Rate

BOC Fixed Deposit Promotion Rates

No hurdle 1.35% iSavings Account

Singapura Blue Sky Savers update

Maybank iSavvy Savings Rate Update June-Aug 2017

New SCB Fixed Deposit Update June 2017

5% Savings Account For Kids

Thanks for reading Singapore Savings Account Rates.

The Team

Singapore Savings Account Rates.

May 29, 2017

Invest in 2.75% Singapore Government Bond

Invest in 2.75% p.a. Singapore Government Bond

You can invest in 30-Year Singapore Government Bond with a coupon rate of 2.75%.

At the auction today, the annual interest payout is fixed at 2.75% pa. but the yield to maturity is 2.55% p.a.

If you wish to apply for future SGS bonds, we show you how.

There is no bank charge and no broker fee if you apply to buy through local bank (DBS, UOB, OCBC) ATM or online.

For example, you can do so via DBS / POSB internet banking site. Click on "Invest", "Singapore Government Securities" and choose "bond application". Follow instructions until completed.

Note that bond application date / time on the bank site may close earlier than MAS auction date / time. This is to allow time for bank to submit applications onward to MAS.

Choose non-competitive bid if you want to get your hands on the SGS bonds at whatever price is determined at the auction. Allow extra funds than your investment target for your non-competitive bid. You can check daily SGS bond prices here.

Ensure that you have enough investment funds in your savings account to apply for bond purchase. Your funds are deducted immediately when you submit your bid application. The extra amount sent with your non-competitive bid will be refunded once the cut-off price is declared.