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Which bank is giving good interest?

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  • Which bank is giving good interest?

    I want to open another bank account and I am planning to give the ATM to my mother to secure the money I will be saving there. Time deposit is too high for me. So I'd like to open another account for my savings and I wanted to know which bank offers good interest every month?

  • #2
    cimb star saver account

    0.8% p.a

    higher than FD


    T&C applies

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    • #3
      Thank you very much Efai for your advice. I checked out the website but I think they are requiring $5,000 minimum initial deposit. Have you ever tried this? 5K is honestly too high for me. I was happy when I saw .8% interest they will give monthly but it is really too high for me. Is there any other options?

      Thanks dear!

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      • #4
        Have you checked out POSB bank singapore? There is no minimum deposit amount, and they have one of the best interest rates around for savings account - 0.0500%. Have a look

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        • #5
          am i reading wrong? POSB no min. to open and best interest rate??????

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          • #6
            Originally posted by Alison Fisher View Post
            Have you checked out POSB bank singapore? There is no minimum deposit amount, and they have one of the best interest rates around for savings account - 0.0500%. Have a look
            I currently using POSB account for receiving salary. Haven't try to inquire because I'm afraid to receive a lot of offer from the sales. But are you sure they don't have minimum deposit amount for a secured savings account. Maybe you are talking about this MySavings Account - Singapore Savings Account | POSB Bank Singapore MySAVINGS ACCOUNT ? I have this but its not working for me I am just withdrawing the amount so I wanted a new account where I can protect my savings. Sorry to have a lot of queries with you guys.

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            • #7
              Originally posted by efai View Post
              am i reading wrong? POSB no min. to open and best interest rate??????

              Ei Efai, what do you think about Standard charter? A cotter suggested me this service Standard Chartered Bank Singapore ? Hope you still have amore to help me. Hehe!

              Thanks!

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              • #8
                i have SCB e-saver
                signed up many manyyears ago when the interest rate was 0.3%


                after the interest keep dropping till it's the same as other normal savings account in other banks, i took everything out and put in CIMB
                but i still leave the account there with just $10 to spite them (for the pathetic interest)
                the interest rate now is 0.1%pa
                (slightly better than POSB/DBS which is 0.05%pa )

                it is good if you just want an account purely to put savings that you will not touch.

                if you are ok with 0.1%pa, i rather u take up OCBC
                SmartSavings - Banking - OCBC

                min 1k to open and to maintain 1k each mth

                SCB branches are a handful only and they are quite inflexible with certain things
                OCBC branches are many and their staff much more friendlier

                when u have pumped up enough in the savings, u can then take the 5k and open CIMB

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                • #9
                  I finally saw perfect bank service for my financial needs. OCBC have this Savings Account which you can deposit as lower as $50 but of course I will not deposit as small as that. I love to get their SmartSavings but the requirements is still high for me. I'm afraid of not maintaining it then it defeat the purpose of getting the interest. What I am not sure of is if the Savings account have interest. If it doesn't have interest I will choose the 13 months tenor then will just transfer it as Samrt Savings then if the money reach 5k I can transfer it to CIMB. Please pray for my success. Thanks Efai for all the info!

                  Take Care!

                  Comment


                  • #10
                    If you're looking to do a fixed savings for each month, POSB has this MySavings Account, while OCBC has their Monthly Savings Account. Means that you will arrange to transfer a fixed amount into this account every month on a certain date. It's a good method to discipline yourself to save!

                    Rates are here:
                    DBS Singapore | Rates Online | S$ Deposits | Deposit Accounts
                    OCBC Monthly Savings Account

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                    • #11
                      Originally posted by chels View Post
                      If you're looking to do a fixed savings for each month, POSB has this MySavings Account, while OCBC has their Monthly Savings Account. Means that you will arrange to transfer a fixed amount into this account every month on a certain date. It's a good method to discipline yourself to save!

                      Rates are here:
                      DBS Singapore | Rates Online | S$ Deposits | Deposit Accounts
                      OCBC Monthly Savings Account
                      Wow! Thanks for the OCBC link. How I hope to locked in for tenor 36 but I'm afraid of what will happen within those years so better be safe get the least tenor. This is very helpful for me. For POSB I think I still cannot produce the amount they are asking for maintenance.

                      Thanks again!

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                      • #12
                        Originally posted by chels View Post
                        If you're looking to do a fixed savings for each month, POSB has this MySavings Account, while OCBC has their Monthly Savings Account. Means that you will arrange to transfer a fixed amount into this account every month on a certain date. It's a good method to discipline yourself to save!

                        Rates are here:
                        DBS Singapore | Rates Online | S$ Deposits | Deposit Accounts
                        OCBC Monthly Savings Account
                        Is there any difference between OCBC and POSB savings acct?

                        Comment


                        • #13
                          Originally posted by efai View Post
                          i have SCB e-saver
                          signed up many manyyears ago when the interest rate was 0.3%


                          after the interest keep dropping till it's the same as other normal savings account in other banks, i took everything out and put in CIMB
                          but i still leave the account there with just $10 to spite them (for the pathetic interest)
                          the interest rate now is 0.1%pa
                          (slightly better than POSB/DBS which is 0.05%pa )
                          I only put $1 in e-saver.

                          Comment


                          • #14
                            Originally posted by what_we_want_we_get View Post
                            I want to open another bank account and I am planning to give the ATM to my mother to secure the money I will be saving there. Time deposit is too high for me. So I'd like to open another account for my savings and I wanted to know which bank offers good interest every month?
                            Why is nobody looking at OCBC Hight Interest Deposit A/c (Bonus +)?

                            http://www.ocbc.com.sg/personal-bank...onus-plus.html

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