Recommended Savings Accounts (no lock-in period) :
Less than S$5,000 = 0.1875% p.a. (Maybank iSAVvy) No minimum monthly balance to maintain
More than S$5,000 to below S$50,000 = 0.30% p.a. (Maybank iSAVvy) No minimum monthly balance to maintain
Less than S$50,000 = 0.10% p.a. (Standard Chartered Bank e$aver) No minimum monthly balance to maintain
S$50,000 to S$199,999 = 0.15% p.a. (Standard Chartered Bank e$aver) No minimum monthly balance to maintain
First S$50,000 = 0.20% p.a. (FairPrice Plus Savings Account) No minimum monthly balance to maintain
More than S$50,000 = 0.38% p.a. (Maybank iSAVvy) (Interest-on-interest every 6 months 6.00% for average monthly balances of at least S$5,000)
More than S$50,000 = 0.40% p.a. (FairPrice Plus Savings Account) (Subject to maximum deposit of S$500,000)
S$200,000 and above = 0.25% p.a. (Standard Chartered Bank e$aver)
Standard Chartered Bonus$aver Account
Get 1.88% p.a. on your savings for the first S$25,000 in your Bonus$aver account if you charge a minimum of S$500 to your linked Bonus$aver World MasterCard credit and/or debit card(s) each month.
ANZ MoneyLine account - Earning Interest on Credit Balance
If you have excess cash deposited into the account, you will be paid interest for the credit balance of that particular day. The minimum credit interest payable is S$1. Currently, interest on credit balance is at 0.6% p.a.
CIMB StarSaver Account (no lock-in)
Minimum deposit S$5,000.
Increment deposit: S$500 or more = 0.8% p.a.
Increment deposit: Less than S$500 = 0.5% p.a.
To enjoy the 1% p.a. interest, deposit a minimum of $5000 and $500 monthly top ups. You can also make a larger initial deposit in advance, and the bank will convert the extra amount into equal portions of $500 a month so that you need not top up every month in order to enjoy the 0.8%p.a.
Recommended CDA Account:
If you are eligible for CDA (Child Development Account), consider Standard Chartered Bank which offers 0.3% p.a. on the family saver account. Under Family Saver, the 2nd applicable account to be opened must be an e$aver account, e$aver Kids! account or World Partner Savings Account. If the Trustee of the CDA has more than one applicable account, then Family Saver will apply to one applicable account only and it will apply to the account that is opened the earliest. If the Trustee of the CDA has an existing applicable account, then Family Saver will automatically apply to that account.
Maybank ISAVvy Interest Rates
Standard Chartered Bank e$aver
FairPrice Plus Savings Account
Bank of China
Fixed Deposits Interest Rate:
Hong Leong Finance
Bank of East Asia
ICICI Bank Fixed
Maybank Time Deposit
For discussions on this topic, please post it in a new thread. I will do my best to keep this thread easy to read and updated.
Please give the bank a call to check their lastest interest rates before going down to place a deposit, to avoid disappointment.