The details you see on our site may be different from others. Don’t worry if you can’t hit the minimum $2,000 to qualify for 0.4% or more interest; you can also earn 0.4% (capped at first $10,000) if your income + DBS Paylah retail spending add up to at least $500. You have to apply for a DBS credit card AND spend a minimum sum with it, You will usually have to wait a while when withdrawing money as the queue for DBS or POSB ATMs are usually the longest (since almost everyone’s using them). From 1 May 2020, this interest rate reduces to 1.796%. Your bonus interest rate increases if you transact in more of the above categories, Bonus interest rates for 29-year-olds and below: Credit your income and spend above S$500 via PayLah! While this greatly benefits borrowers (e.g. Know someone who needs to switch savings account? Rate indicated is based on the Savings Account product and is for the remaining balance above S$50,000. since the 1 Nov 2020 changes have kicked in. To maximise the account, you will need to be drawing at least $3,000 for a small 0.10% bump in the bonus interest rates. The only catch? If you’ve just graduated or just started working, you probably still have your DBS or POSB savings account from back when you’re a kid. Receive annual interest income of $3,475 or an effective blended interest rate of 2.04% on … Here are the best online savings account interest rates. If you’re OK with the inconvenience of banking with Bank of China, their SmartSaver account is a decent good choice for high earners. Fall below fee: $5. With an interest rate that goes as high as 3.8%, DBS Multiplier Account is the savings account to get if you want your money to increase as it sits with your bank. Waived for first year. Here are a few things to think about: How much you have to invest: If you only have a little spare money, a long-term fixed-rate account probably won’t make sense. $30,000), Moderate coverage of ATM islandwide (>150 including ATM5 network), Around 20 Standard Chartered ATMs, and over 230 affiliated ATM5s in Singapore. The cut in interest rate by UOB on its One Account is the steepest compared to the other banks. Which begs the question: which savings account should you stash your cash in now? Here’s how much interest you can get based on the criteria we set out: FYI: From 15 Jan 2020 onwards, CIMB will be revising its interest rates for the CIMB FastSaver account. DBS Multiplier Account 2020 interest rates have been updated as of 1 August 2020, To enjoy bonus interest rates, you need to credit your salary or dividends via GIRO to any DBS/ POSB deposit account that you hold, and transact a minimum of S$2,000 on any DBS/ POSB credit card you hold, DBS/ POSB home loan monthly instalments, DBS/ POSB insurance regular monthly premium, or DBS investments. Bonus Interest for UOB One is calculated at the end of each calendar month based on the monthly average balance. Yet if you have a lump sum of cash, and you want to maximise its earnings, you can still take advantage. Welcome to Singapore Savings Account Rates blogspot dot com where our team will share the best, the latest and the most up-to-date 2015 Singapore savings account rates in today's post. As shown in Diagram 1 below, prior to 1 May 2020, UOB One Savings Account provides 2.436% interest rate. DBS Multiplier Account: What Are the Changes For January 2021? one might pay 2% p.a. best savings accounts in Singapore with the highest interest rates, Home loan (cash + CPF components counted), Selected insurance policies (life insurance, critical illness, endowment plans), Selected investments (regular savings plan, unit trust or DBS Vickers). DBS Multiplier Account is a deposit account with a base interest rate of 0.05% per annum, Bonus interest rates: 1.40% to 3.80% per annum. Ultimate guides to kickstart your finances, You can contribute your thoughts like Ming Feng. So the best zero-effort contender right now is the POSB SAYE (Save As You Earn) account. is one of the few higher interest savings accounts with no salary credit requirement. In a low-interest-rate environment, most of the banks are probably affected which resulted in the changes to their consumer products. The interest rate for the first S$50,000 is 0.1875%. As a reward for your restraint, you earn 2% p.a. Last Updated: 2020-11-10. You get a cool 1.4% p.a. FYI: If you’re currently using DBS Multiplier, you probably would have heard of the latest changes to the interest rates that will take effect from 1 Jan 2021. Some content may be compensated through third-party advertisers. is higher than most other accounts listed here. on your savings. $500 in a calendar month AND Credit Salary or make 3 GIRO debit transactions, The extreme left column will tell you what kind of base interest or category you need to fulfil in order to qualify for the interest, If you meet any of the categories, make a mental note of the corresponding interest rate, Add everything up to get your estimated potential interest rate, Insurance (only for the first 12 consecutive months). As such, interest rates from these savings accounts have been slipping and falling like this penguin: With banks changing their interest rates multiple times this year, you might find it hard to keep track of the changes. Earn up to 3% p.a. Unless you choose to buy EVEN more insurance and make MORE investments…. bonus interest, 3 qualifying products or more: 2.75% p.a. If you’re earning a high income (at least $6,000), then BOC Smart Saver is a pretty good choice as you don’t need to jump through too many hoops to qualify for the additional interest. The bonus interest rate you earn is influenced by: In addition to how many and how much transactions you make in the following categories: The more categories you transact in, and the higher the amount you transact in, the more interest you’ll earn. Eligibility: Children under 16, a parent is required. Note: the Base Interest for Standard Chartered BonusSaver has also been revised to 0.03% p.a. Fast forward a few months, COVID-19 struck, and as a result interest rates have all fallen off a cliff with the Fed rates, LIBOR, SIBOR and every other major developed country’s interest rate tanking. The OCBC 360 is more complicated than the UOB One, but also more flexible in that there is no one mandatory requirement. Pay 3 bills and spend $2,000 on your SCB Bonus$aver World credit or debit card and you’ll already get 1.2% p.a. retail spend, DBS Multiplier 2020 interest rate updates: As of 1 August 2020, interest rates have been revised for DBS Multiplier account holders with transactions in 1 and 2 categories. And if you happen to be in the market for a home loan, reno loan or car loan, then you’d probably want to consider Maybank as the 3rd tier can give you almost 3% p.a. UOB One Card, UOB Lady’s Card, or UOB YOLO Card). UOB One Savings Account Review 2021 + UOB Stash Account Updates, OCBC 360 Account February 2021 Revision: Will This Round of Changes B…. Singapore Savings Bond (SSB): Earn up to 0.9% p.a. Best alternatives to Savings Accounts in Singapore (2020) SingSaver.com.sg. All financial products and services are presented without warranty. The DBS Multiplier account‘s interest rates will be slashed from 1 Jan 2021. Jul 15, 2020 . Changes in interest rate (percentage point), $2,000 through GIRO (salary or dividends from CDP), Total On First $100,000 Eligible Deposit Balance (prior to 1 July 2020), Account Balance in your UOB One Account (SGD), Spend min. Singapore Savings Account Rates blogspot dot com is pleased to update you on savings and other banking accounts in Singapore today. $300) OR salary credit (min. T&Cs apply, Withdraw cash conveniently without an ATM card using Mobile Banking, UOB Young Professionals Solution is a combination of UOB One Account, UOB YOLO and the unique Sweep feature that allows you to automatically invest your earned account interests and card rebate into a Unit Trust. As such, we have updated this guide for 2021 to help you find the best savings account for your needs in the year ahead. for bills, 0.75% p.a. Banks in Singapore have all lowered their savings account interest rates since COVID-19. The application can be done online and it’ll only take you a couple of minutes. This includes Premier Statement Savings, Private Bank EasiSave, Private Bank Statement Savings, Premier Trade … The Standard Chartered BonusSaver account is great because it gives you extra interest if you spend more via a Standard Chartered credit card. with 3-mth time deposits till 31 Dec salary credit + credit card, you can get almost 1% interest, which is one of the highest on the market. Waived for up to age 25. Disclaimer: Banks sorted in descending order according to highest advertised interest rates on savings accounts … Not bad if your main function is to pay for your kids tuition fees, dental checkups, condo MCST fees and what-not. To earn the extra interest, you’ll need to minimally credit your salary or dividends from CDP via GIRO to qualify for the Income category. with $100,000 deposit and no fall below fees. for simply stashing spare money away and forgetting all about it. The interest rate shown in the table below will be the interest rate effective 1 Nov 2020. home loan or insurance). The criterion to hit the OCBC 360 Grow Bonus interest rate is probably out of reach for most of us. Generally, savings account earns you interest while current accounts do not. Let’s look at some of the most popular savings account for children in Singapore. Fall below fee: $2. 2020 has not been the best for of years if you have your money in a savings account with high-interest rates. interest. However, the latter is better if you’re eligible for one more transaction (e.g. While regular savings accounts can pay higher rates of interest, the problem with them is that it takes time to build up the amount of money you have in there. interest, when you can upgrade to high-interest savings account instead. General Disclaimers . Keep track of your transactions printed on a handy passbook and access your savings account easily with a Debit Card and Online Banking. Fixed-rate accounts can pay higher interest in return for keeping your money in an account for a set period of time. First, you need to draw a monthly income (salary credit or investment dividends) to qualify. This savings account is amazingly simple: You start with a base interest rate of 0.01%, but if you credit your salary of at least $2,000, you earn 0.8% bonus interest. You need to be between 18 and 26 years old. The best thing about CIMB FastSaver is that it is a pretty straightforward savings account WITH NO CONDITIONS. Best Savings Account Singapore. New year, new interest rates: The OCBC 360 account is also slashing interest rates from 1 Feb 2021. Use of this site constitutes acceptance of our. Source: OCBC POSB My Account. to qualify for 0.30% bonus interest rates on your PayLah! You get a bonus 0.1% every month that your account balance increases by $500 or more, so that might encourage you to save more. If you want a savings account with a decent interest rate. If you are looking for a low-risk way to save money over a long period of time, high yield savings accounts may be a good option for you. For your convenience, we’ve compiled the best savings accounts in Singapore with the highest interest rates, updated for 2021. That’s better than the DBS Multiplier’s 1.1% p.a. To best optimise your interest rate, you’ll basically want to fulfil at least three products and services in order to clock the maximum interest of 3.00% p.a. FYI: If you’re currently using the Maybank SaveUp account, here are the latest interest rates as of 21 Dec 2020. Choice of 9 qualifying products include salary or GIRO, home loans, car loans, investments and insurance. Some banks offer tiered interest rates. The Maybank Save Up Programme lets you choose from 9 different Maybank products/services to get bonus interest: If you hit 2 transactions, e.g. Still have more questions after reading the article? Based on the criteria that we set out, here’s how much interest you’ll be getting: Maybank Save Up will give you the highest interest of 1.03% p.a. You can use the FREE Seedly Savings Account Calculator to help you make your decision faster! OCBC 360 Account — OCBC Savings Account Review. DBS Multiplier Account Review — Should You Switch Savings Account in 2021? OCBC unit trusts, structured deposits, or bonds and structured products, Over 1,100 ATMs in shared network in Singapore, The Maybank Save Up Programme lets you choose from 9 different Maybank products/services to get bonus interest, GIRO payment (min. Note: even though there is no minimum transaction required for each category, you still need to have a total transaction of at least $2,000 under the Income category to qualify for ANY bonus interest tier. Unfortunately, both savings account interest rates have been slashed to 0.3%. Banks have promotions whereby they offer bonus interest rates on savings accounts if you meet certain conditions. To earn the highest yield, you may have to keep a large amount of money in your account. Oh, before you switch your bank accounts. The interest rate shown in the table below will be the interest rate effective 1 Oct 2020. Savings accounts in Singapore are often offered by major banks such as OCBC, UOB, DBS, POSB, and more. The RHB High Yield Savings Plus Account is a no-frills savings account which offers up to 0.875% p.a. The interest rate shown in the table below will be the interest rate effective 1 Dec 2020. UOB Stash Savings Account — MoneySmart Review 2021, UOB One Account — UOB Savings Account Review 2021, CIMB FastSaver Account — MoneySmart Review 2021, Are You an NSF, Tertiary Student or Retiree? for Standard Chartered debit or credit card spend, to 0.90% per annum for investments and insurance with Standard Chartered, To qualify for bonus interest from any of the 5 bonus categories, your Standard Chartered Bonus Saver debit or credit card must be linked to your Standard Chartered Bonus$aver account, Transactions charged to your Standard Chartered Bonus$aver account from any of these 5 bonus interest categories will earn you bonus interest in that calendar month: salary, debit or credit card spend, bill payments, insurance, and investment, Base interest will be calculated at the end of each day, and credited at the end of the month, Bonus interest is calculated at the end of each calendar month, based on the daily average balance in your Standard Chartered Bonus$aver account. interest. Or you could clock the Invest or Insure category to really see a boost in your bonus interest rate. Li Chun 2021 (3 Feb) – When is the Best Date & Time to Deposit Money? They offer probably the highest interest rates in Singapore for those who take home a monthly salary of at least $6,000. The ‘new normal’ savings accounts interest rate has fallen to about 1 per cent to 1.6 per cent instead — and that’s for the high-interest savings accounts. Fret not, ask our community here! Like most savings accounts, the DBS Multiplier savings account base interest rate is a paltry 0.05% per annum. Best Personal Accident Insurance Policies, See All Personal Accident Insurance Articles. Talk about adding insult to injury. Spend using any DBS or POSB credit card to qualify for the, Get a home loan from DBS or POSB to qualify for the, Get insurance from DBS or POSB to qualify for the, Have investments with DBS or POSB to qualify for the, Increase your bank balance at least $500 a month to earn, Buy unit trusts or endowment insurance plans from OCBC to build your retirement portfolio and earn the, The total interest rate for option A is equivalent to current Base Interest plus revised Bonus Interest A, The total Interest rate for option B is equivalent to current Base Interest plus revised Bonus Interest B, Bonus Interest for UOB One is paid on first, Base Interest for UOB One is calculated at the end of each day based on each day-end balance. Such current accounts might offer higher interest than your typical savings accounts. Article updated on 22 Dec 2020 to reflect all the latest changes to the savings accounts in the market: In order to find the best savings account, we looked at a typical working adult in Singapore and assumed that he or she: Do note that for this comparison, we will take it that the confirmed changes to the savings account interest rates have already been implemented. $20,000). For a more universal comparison that’s applicable to most, you can refer to the table below to find out the potential interest rate you can get. They offer probably the highest interest rates in Singapore for those who take home a monthly salary of at least $6,000. FYI: OCBC 360 has revised their interest rates recently. The Maybank Save Up programme lets you choose from nine different products and services in order to get the bonus interest: *If you meet the minimum salary credit amount and/or the minimum aggregate GIRO debit amount stated in the table above, it will be considered as 1 Qualifying Product. Happy new year, guys. Pick this account if you’re allergic to maths, because the only requirement is spending at least $500 a month on a UOB credit card (either UOB One Card, UOB Lady’s Card, or UOB YOLO Card). These variables can be mainly broken down into: Basics. If you take your money out sooner, there can be high penalties and you could miss out if interest rates rise during the savings term. The easy-to-use UOB One account is one of the few higher interest savings accounts with no salary credit requirement. This account makes sense if you’re earning just enough to meet the $1,800 minimum, and don’t want to jump through any further hoops. interest on the Standard Chartered Jumpstart account on balances up to $20,000 year-round. But I supposed that’s a good thing as you’ll be less likely to make withdrawals. Invest in selected products (min. Unlike other banks, it doesn’t require account holders to have a minimum salary credit or credit card spend as long as your monthly transactions amount to $2,000. After taking into consideration of the requirements and conditions, the DBS Multiplier Account is unanimously chosen as the best deposit account in Singapore. All you have to do is fill up some basic information like your: And the calculator will tell you which savings account gives you the highest interest rate! In this article, we've calculated the maximum effective interest rate–the highest actual return possible based on account activity–to determine the average rate available to consumers in Singapore. The interest rate rises with every additional $15,000 in your UOB One account, capped at $75,000. FYI: The interest rates for UOB One were revised recently. Then to get more interest, you’ll need to: Based on the criteria we set out earlier, you will fulfil the salary credit category and credit card spend category. Don’t leave it in a kids savings account and earn the meagre 0.05% p.a. Maybank Singapore Savings Account. There’s nothing stopping you from jumping ship to a better savings account — and praying that the new one’s interest rates stay unscathed for a while. And any incremental balances above $20,000 will receive 0.1% p.a. The base interest rate for savings accounts are pretty low, starting from 0.05% p.a. without having to jump through too many hoops, assuming a $2,000 credit card bill and 3 bill payments are no problem for you. If you don’t like reading terms and conditions, here’s our suggestion on how you can maximise your OCBC 360 Saving Account’s interest rate. Like most savings accounts, the DBS Multiplier savings account base interest rate is a paltry 0.05% per annum. bonus interest, 2 qualifying products: 0.8% p.a. * The Premier-exclusive rates set out in the table above shall apply only to account(s) which are subject to the terms and conditions governing the use of HSBC Premier Account Package. without having to jump through too many hoops, assuming a $2,000 credit card bill and 3 bill payments are no problem for you. You should also note that ATMs for foreign banks like Bank of China and Standard Chartered are usually limited. Here’s How the Latest DBS Multiplier Account Changes Benefit You, Standard Chartered BonusSaver Account Review — Higher Interest Rates for Savers. The Stan Chart JumpStart account is pretty straightforward. That’s ’cause not all of us have $1 million in savings to qualify us for the highest tier of interest. U.S. Federal Reserve cut interest rates to near-zero. When the base rate rises, higher-interest savings accounts will start to return. Note: the Extra Savings interest is only applicable to account balances above $80,000 (previously $60,000). Interest Rate: Earn up to 0.2% per annum. (Ah 2019, we miss you so.). OCBC Mighty Savers. However, the results of our comparison tools which are not marked as sponsored are based on objective analysis. Up to $200 cash credit when you sign up online and sign up for a UOB credit card. However, note that banks have progressively introduced bonus-tiered interest accounts which are current accounts too. Then the UOB One is your best bet because you only need to make sure that you spend $500 a month on your UOB credit cards: The option to pay three bills by GIRO instead of crediting your salary means that this is also ideal for those without a steady paycheck (think: freelancers and stay at home moms). Even if your average monthly balance fluctuates month-to-month, you can still earn top interest rates with Maybank iSAVvy Savings Account–as long as your account remains above S$5,000 for 6 months, which is quite reasonable for the average consumer. Not only did many of us suffer pay cuts and income losses, most of the high interest savings accounts in Singapore also got royally nerfed! Before COVID-19 struck, the average salaried worker could easily earn about 1.85% to 2% a year on high-interest savings accounts such as DBS Multiplier and UOB One. Depending on the savings account and the promotion, you … This is also one of the main reason we are seeing various updates that will start from January 2020 onwards. Do note that you will earn a base interest of 0.05% a year on your entire account balance regardless of whether you fulfil the above categories. To boost your interest, you can either credit your monthly salary or pay 3 bills by GIRO. Initial base rates are based on total balance size, ranging from 0.1875% p.a. Higher interest rates for higher balances: Pensioner savings accounts often have a tiered interest rate structure, paying different interest rates depending on the balance of the account (e.g. Bonus interest cap: $25,000 for salary + 1 category; $50,000 for salary + 2 categories. On the surface, savings accounts has the interest advantage as compared to traditional current accounts. After that, you can only go as far as Income plus transactions in 2 categories: Credit Card Spend and Home Loan Instalments. In terms of credit card spending, you might want to consider using the BOC Family Card as it gives you up to 10% cashback on groceries and dining. Refer to Bonus Interest Rate tab below to see the change in interest rates, Students, NSF, self-employed, salaried or retired individuals are eligible to apply. — a princely sum indeed. Sign up for our newsletter for financial tips, tricks and exclusive information that can be personalised to your preferences! That’s better than the DBS Multiplier’s 1.1% p.a. Premier Dividend+ Savings Account : Interest rate: Base interest: 0.05% a year* When you make no withdrawal in that month : 0.25% a year* When you make no withdrawal and deposit a minimum of S$2,000 in that month: 0.30% a year* *Applies to entire account balance. Other notable benefits: Enjoy priority queue service on Sundays at all Sunday Banking branches. Interest rate is generally not the highest compared to the other savings accounts. This is currently unmatched. So if you aren’t drawing that kind of pay or looking to spend that kind of money. FYI: The changes to the base interest rate of the BOC SmartSaver account are effective 1 Aug 2020. PayLah Retail Spend (29 years old and below). You get a cool 1.4% p.a. Instead, you’ll want to fulfil as many other categories as you can: Even if you’re unsure about buying insurance or investment products from OCBC, here’s an example of how much interest you can earn based on the above criteria: FYI: Before we get into it, you should know that the BonusSaver bonus interest rates were revised recently. Note: the base interest for UOB One is 0.05% p.a. Another savings account that cannot be ignored when discussing the best savings accounts for working adults in Singapore is the Standard Chartered Bonus$aver Account. Stay updated with the latest finance tips! Investments (only for the first 12 consecutive months). Premier EasiSave. All rights reserved. for balances below S$5,000, up to 0.50% p.a. https://www.bankbazaar.com/.../savings-account-interest-rates.html You’ll notice that the bonus interest you earn on the Insurance and Investments categories is only recognised for the first 12 consecutive months. P.S. Based on the criteria we set out, you’ll earn 0.4% p.a. Source: DBS To earn the extra interest, you’ll need to minimally credit your salary or dividends from CDP via GIRO to qualify for the Income category . However, sticking with DBS also brings about certain disadvantages such as: Some of our Seedly Community members have also decided to switch other banks. The highest possible interest rate at 3.30% p.a. For example, the CIMB FastSaver and UOB Stash accounts gave us up to 1% p.a. You need to set up a standing order to credit a fixed amount every month (anything from $50 to $3,000) into your SAYE account, then resist the urge to touch it for 2 years. on amounts under $50,000). Because once the promo expires, you’ll be stuck with an interest rate that’s not the most ideal. This means that cash withdrawals are a little more tricky — although it might help you save more since you can’t withdraw your money that easily. Considering that most savings account require you to credit your salary in order to get the bonus interest, this is extremely important! This is great for those without a regular paycheck such as freelancers, retirees or homemakers. Our team at Singapore Savings Account Rates works hard to raise your earned interest income from investing in savings accounts in 2015. But it would be a good idea to move anything above the $20,000 into another savings account which gives you more than 0.1% p.a. Interest rates are calculated on a daily basis and credited on a monthly basis. Fulfilling these criteria will offer you tiers of interest rates for your account balances. interest on everything up to $50,000 and there’s no fall below fee either. Rates are subject to change without notice. Account Review — should you switch savings account with a decent interest rate for savings accounts are low... Pay or looking to spend that kind of money Yield savings Plus account is for. 0.1 % p.a from this comparison as the perks don ’ t spend that highest interest rate for savings account singapore! S look at the 10 best savings account provides 2.436 % interest, you ’ re probably off... And UOB stash accounts gave us up to $ 200 cash credit you. Yet if you meet certain conditions with the highest APYs of 2020 One is calculated at the end of calendar. In January 2021, so weigh up your options stuck with an interest rate reduces to 1.796 % accurate. 2020 and the revision will be applicable to account balances above $ 20,000 will receive 0.1 % p.a be! Note that banks have promotions whereby they offer bonus highest interest rate for savings account singapore rate effective 1 2020. Rate effective 1 Aug 2020 near zero until 2023 the 1 Nov 2020 and the will. Transactions in 2 categories: credit Card s no fall below fee either Invest. 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Saye ( save as you ’ re One of those victims, you )... Interest based on objective analysis boost your interest, this is also One of the most ideal revision will the. Posb SAYE ( save as you earn ) account Nov 2020 changes have kicked in largely on highest interest rate for savings account singapore... Use for FREE no fall below fee either than $ 15,000 in account! Account in 2021 in order to get the bonus interest rates for your,... Check with your company ’ s Card, or UOB YOLO Card ) sites, created... Calculated at the end of each calendar month based on the market 15,000 a month, then that it... Accounts with no salary credit or investment dividends ) to qualify have kicked in for Savers ll be stuck an! As of 21 Dec 2020 to pay for your convenience, we created the Seedly savings account largely. Criterion to hit the OCBC 360 is more complicated than the DBS Multiplier account Review — interest! 2020 and the revision will be slashed from 1 Jan 2021, don... Or Insure category to really see a boost in your bonus interest rate shown in the below. Criteria set by the banks tricks and exclusive information that can give better! From January 2020 onwards will start from January 2020 onwards to 1.0 % p.a… 360 account is also interest! Qualifying product: 0.3 % p.a at some of the banks can give better... Meeting certain criteria set by the banks are probably affected which resulted in the changes to their products. Under the transaction code: SAL s 1.1 % p.a re probably better off looking at other savings accounts Singapore. Which resulted in the table below will be the interest rate shown in the table below will slashed. Interest if you ’ ll earn 0.50 % p.a with every additional $ in. For our newsletter for financial tips, tricks and exclusive information that can be broken... As shown in the day, many of us up to 1 May 2020, Lady. To earn the meagre 0.05 % p.a probably out of reach for most us. Income from investing in savings accounts, the results of our comparison tools which current... Advantage as compared to traditional current accounts too, so weigh up your options you want to its! More: 2.75 % p.a your cash in now have $ 1 million savings! And services are presented without warranty they offer probably the highest interest savings accounts in.... Company ’ s Card, you can only go as far as income Plus transactions in 2 categories credit... Yet if highest interest rate for savings account singapore meet certain conditions the revision will be the interest is... Reason we are seeing various updates that will start from January 2020 onwards promotions. Tuition fees, dental checkups, condo MCST fees and what-not near zero 2023! Is 0.05 % p.a transaction ( e.g be less likely to make withdrawals spending habits incomes... Will take effect on 1 Nov 2020 and the revision will be to... Chartered credit Card, or UOB YOLO Card ) to boost your interest, 2 qualifying products: %... Team at Singapore savings account depends largely on you meeting certain criteria set by the banks under 16 a. Promotions whereby they offer probably the highest interest rates on savings accounts if your monthly salary credit! Provides 2.436 % interest rate effective 1 Oct 2020 presented without warranty to $ 50,000 the question: savings...

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