<![CDATA[Saving Accounts Interest rates]]>Wifey was queuing up to do some banking (actually to get transfer her $$$ to another bank) at POSB and she said the Q was incredibly long and slow.


Why are people still putting money into the local banks? I think they are giving like 0.05%...

For $10k, 1% = $100. So 0.05% is $5...good enough for a Burger King Affordable Meal once a yr!! :stupid: :stupid: :stupid:

If u have $50k, your family can celebrate at BK once a yr!!! :slapshead:

Which banks have the best rates or good products now???

]]>https://forum.kiasuparents.com/topic/40112/saving-accounts-interest-ratesRSS for NodeTue, 21 Apr 2026 06:51:09 GMTTue, 04 Sep 2012 01:03:47 GMT60<![CDATA[Reply to Saving Accounts Interest rates on Fri, 18 Jan 2013 10:10:32 GMT]]>standchart have bonu$aver account of 1.88% per annum, but you need to spend at least $500 on their credit card / debit card.


the $500 easy to chalk up…just pay your utilities bills, telco bills, internet bills, etc. via vpost or swipe card at the merchant directly (cannot use the SCB online payment to bill organisation, they don’t count that to your $500) and you will get 1.88% p.a.

]]>https://forum.kiasuparents.com/post/941252https://forum.kiasuparents.com/post/941252Fri, 18 Jan 2013 10:10:32 GMT<![CDATA[Reply to Saving Accounts Interest rates on Thu, 17 Jan 2013 15:20:54 GMT]]>

Imami:
weatherbee:

Which savings account has the highest interest rate?


OCBC has a bonus+ saving account which is suppose to yield higher savings account interest. I tried it out, opened the account with $5k. At the end of 2nd month, the interest earned is $7+. Well, we all know savings account's interest rate is pathetic but I thought this one is not bad leh (compared to other savings account).

Can let me know what kinda of saving account? I only can find 10k min instead of 5k.

]]>https://forum.kiasuparents.com/post/940601https://forum.kiasuparents.com/post/940601Thu, 17 Jan 2013 15:20:54 GMT<![CDATA[Reply to Saving Accounts Interest rates on Thu, 17 Jan 2013 03:13:21 GMT]]>

Imami:
weatherbee:

Which savings account has the highest interest rate?


OCBC has a bonus+ saving account which is suppose to yield higher savings account interest. I tried it out, opened the account with $5k. At the end of 2nd month, the interest earned is $7+. Well, we all know savings account's interest rate is pathetic but I thought this one is not bad leh (compared to other savings account).


I have went to OCBC website to find out more info on this promotion but still can't figure out how they work out to paid 1.8% for 12month. This means that their interest paid out is better than those FD promotion. Is it just simply as open a new account for 12 months for no withdraw and can earn that 1.8%? Hope someone can explain. Thanks in advance

]]>https://forum.kiasuparents.com/post/940001https://forum.kiasuparents.com/post/940001Thu, 17 Jan 2013 03:13:21 GMT<![CDATA[Reply to Saving Accounts Interest rates on Tue, 15 Jan 2013 16:38:23 GMT]]>Those who have extra cash can't go into property now, also can't go into cars...what's next? Haha 🙂 Perhaps the stock market will be places where people will park their money


Those who are risk adverse might want to consider bond like entities like preference shares listed in the stock market. Inflation is really going to erode the hard earned savings if a bulk of the money is put in banks, especially for long periods of time.

Just my humble opinion 🙂

]]>https://forum.kiasuparents.com/post/938856https://forum.kiasuparents.com/post/938856Tue, 15 Jan 2013 16:38:23 GMT<![CDATA[Reply to Saving Accounts Interest rates on Tue, 15 Jan 2013 15:23:57 GMT]]>

micollh:
POSB myesavings or something gives 3% if keep for min 6 months.. but i din read if there is a minimum amount required. check it out ! stand chart also have for for 2-3 years.
micollh:[quote=\"micollh\"]

the 3% applies only to the monthly contribution But not to the total balance so the average interest rate is 3% divided by the 6 months of the monthly contribution =0 .5%

]]>https://forum.kiasuparents.com/post/938807https://forum.kiasuparents.com/post/938807Tue, 15 Jan 2013 15:23:57 GMT<![CDATA[Reply to Saving Accounts Interest rates on Tue, 15 Jan 2013 08:55:58 GMT]]>

weatherbee:
Which savings account has the highest interest rate?

If you are looking for a savings account where you will have regular amounts credited in, check out a nicely summarised table here: http://www.cheaponana.com/2013/01/15/which-savings-account-should-i-credit-my-salary-into/

DBS seems be the best followed by CIMB for now.

]]>https://forum.kiasuparents.com/post/938559https://forum.kiasuparents.com/post/938559Tue, 15 Jan 2013 08:55:58 GMT<![CDATA[Reply to Saving Accounts Interest rates on Mon, 14 Jan 2013 02:41:15 GMT]]>POSB myesavings or something gives 3% if keep for min 6 months… but i din read if there is a minimum amount required. check it out ! stand chart also have for for 2-3 years.

]]>https://forum.kiasuparents.com/post/937427https://forum.kiasuparents.com/post/937427Mon, 14 Jan 2013 02:41:15 GMT<![CDATA[Reply to Saving Accounts Interest rates on Sun, 13 Jan 2013 08:25:20 GMT]]>My posb mysavings account’s interest is as good as nothing. What else is good for a risk-adversed housewife like me?

]]>https://forum.kiasuparents.com/post/936853https://forum.kiasuparents.com/post/936853Sun, 13 Jan 2013 08:25:20 GMT<![CDATA[Reply to Saving Accounts Interest rates on Thu, 08 Nov 2012 09:01:46 GMT]]>There was sms sent to me about the standard chartered e-saver account.

Up to 1.25% p.a. , planning to find out more…

]]>https://forum.kiasuparents.com/post/894560https://forum.kiasuparents.com/post/894560Thu, 08 Nov 2012 09:01:46 GMT<![CDATA[Reply to Saving Accounts Interest rates on Wed, 07 Nov 2012 09:23:57 GMT]]>

weatherbee:
Which savings account has the highest interest rate?

OCBC has a bonus+ saving account which is suppose to yield higher savings account interest. I tried it out, opened the account with $5k. At the end of 2nd month, the interest earned is $7+. Well, we all know savings account's interest rate is pathetic but I thought this one is not bad leh (compared to other savings account).

]]>https://forum.kiasuparents.com/post/893867https://forum.kiasuparents.com/post/893867Wed, 07 Nov 2012 09:23:57 GMT<![CDATA[Reply to Saving Accounts Interest rates on Wed, 07 Nov 2012 09:15:57 GMT]]>

weatherbee:
Which savings account has the highest interest rate?

You'll have better luck with foreign banks, not the 3 local ones. Try looking at Maybank.

]]>https://forum.kiasuparents.com/post/893864https://forum.kiasuparents.com/post/893864Wed, 07 Nov 2012 09:15:57 GMT<![CDATA[Reply to Saving Accounts Interest rates on Tue, 06 Nov 2012 16:39:29 GMT]]>Which savings account has the highest interest rate?

]]>https://forum.kiasuparents.com/post/893285https://forum.kiasuparents.com/post/893285Tue, 06 Nov 2012 16:39:29 GMT<![CDATA[Reply to Saving Accounts Interest rates on Mon, 05 Nov 2012 19:16:07 GMT]]>took a look at dbs http://www.dbs.com.sg/personal/deposit interest rates..still the same as before. I think it will stay like this for awhile. If want to make $$$, must go invest liao in bonds and stuff. Now also cannot invest in property after the bloody new rules..so hard to get liquidity.

]]>https://forum.kiasuparents.com/post/892165https://forum.kiasuparents.com/post/892165Mon, 05 Nov 2012 19:16:07 GMT<![CDATA[Reply to Saving Accounts Interest rates on Mon, 05 Nov 2012 11:30:41 GMT]]>Sing investment now having promotion of 1.2% for 50 k and above…better than many other banks.

]]>https://forum.kiasuparents.com/post/891975https://forum.kiasuparents.com/post/891975Mon, 05 Nov 2012 11:30:41 GMT<![CDATA[Reply to Saving Accounts Interest rates on Thu, 25 Oct 2012 06:09:46 GMT]]>I’m too interested to make my money work for me. We’ve worked so hard for our money, now it’s time to do the reverse. But I’m so slow in understanding how it works so, I shall back track and read all the post.

]]>https://forum.kiasuparents.com/post/883996https://forum.kiasuparents.com/post/883996Thu, 25 Oct 2012 06:09:46 GMT<![CDATA[Reply to Saving Accounts Interest rates on Thu, 25 Oct 2012 04:04:57 GMT]]>

peapot:
Lapapillion, you didn't mention investment in property any particular reason? Too high risk?

I also didn't mention investing in commodities 😉 I'm just trying to stick to the topic as best as possible, haha! Maybe we should all start an investment thread. Seems like there's genuine interest to learn more from each other 🙂

I think with regards to property, I dare say that most people who made it big in Singapore must have done something with property. Just 1 or 2 rounds would ensure a very comfortable retirement. It's just harder and harder to do it now, with all the rules and huge downpayment required. The only property that I own is my current HDB flat and that is less than 5 yrs, so nothing I can do now :sad:

Just accumulate cash and wait for the right time I suppose 🙂

]]>https://forum.kiasuparents.com/post/883861https://forum.kiasuparents.com/post/883861Thu, 25 Oct 2012 04:04:57 GMT<![CDATA[Reply to Saving Accounts Interest rates on Wed, 24 Oct 2012 23:14:12 GMT]]>Lapapillion, you didn’t mention investment in property any particular reason? Too high risk?

]]>https://forum.kiasuparents.com/post/883636https://forum.kiasuparents.com/post/883636Wed, 24 Oct 2012 23:14:12 GMT<![CDATA[Reply to Saving Accounts Interest rates on Wed, 24 Oct 2012 06:14:55 GMT]]>

micollh:
lapapillion, why the MMF always on upwards trend.. gotten mine.. now it's 0.001 higher lol.. long way to go..

Haha, well, better than savings account lah 🙂 I think it's always upwards because of the way they average out the dividends/coupons/interest received. But I'm not an authority of this, it's just my speculation. They would likely stagger their purchase of the different assets so that the coupons or dividends they receive will not spike at certain months and there won't be periods where it's dry too. I guess it works somewhat like insurance participant fund. They will even out good years with bad years and tend to give out a steady bonus every year, except for the MMF case, they will even out over months instead of years.

You can try taking it out of the MMF funds. It'll take around 2 days (speaking from my own experience with POEMS mmf) from the time you apply to withdraw the funds out. If you need help on how to withdraw it, do let me know.

]]>https://forum.kiasuparents.com/post/883197https://forum.kiasuparents.com/post/883197Wed, 24 Oct 2012 06:14:55 GMT<![CDATA[Reply to Saving Accounts Interest rates on Wed, 24 Oct 2012 01:34:43 GMT]]>lapapillion, why the MMF always on upwards trend… gotten mine… now it’s 0.001 higher lol… long way to go…

]]>https://forum.kiasuparents.com/post/882962https://forum.kiasuparents.com/post/882962Wed, 24 Oct 2012 01:34:43 GMT<![CDATA[Reply to Saving Accounts Interest rates on Mon, 22 Oct 2012 07:22:25 GMT]]>Yes, I think those from local banks too. The usual ocbc, dbs pref shares are way below par. But then again, so are a lot of other blue chips which offers a better chance of recovering capital fast. A lot of choices back then.

]]>https://forum.kiasuparents.com/post/881608https://forum.kiasuparents.com/post/881608Mon, 22 Oct 2012 07:22:25 GMT<![CDATA[Reply to Saving Accounts Interest rates on Sun, 21 Oct 2012 15:17:39 GMT]]>

lapapillion:
It's a US listed one. HSBC preferences shares A. Those from stanchart too, I believe.

I thought some local banks too? I may have misremembered, it was a crazy time......

]]>https://forum.kiasuparents.com/post/881246https://forum.kiasuparents.com/post/881246Sun, 21 Oct 2012 15:17:39 GMT<![CDATA[Reply to Saving Accounts Interest rates on Fri, 19 Oct 2012 16:21:55 GMT]]>It’s a US listed one. HSBC preferences shares A. Those from stanchart too, I believe.

]]>https://forum.kiasuparents.com/post/880172https://forum.kiasuparents.com/post/880172Fri, 19 Oct 2012 16:21:55 GMT<![CDATA[Reply to Saving Accounts Interest rates on Fri, 19 Oct 2012 15:50:35 GMT]]>May I ask which preference shares went below par value?

]]>https://forum.kiasuparents.com/post/880166https://forum.kiasuparents.com/post/880166Fri, 19 Oct 2012 15:50:35 GMT<![CDATA[Reply to Saving Accounts Interest rates on Fri, 19 Oct 2012 09:43:17 GMT]]>The theoretical price is as you mentioned, but market is not always based on theory, haha 🙂 Certain times, especially during crisis, bond price might plunge below par value. Take the very recent financial crisis. The price of some traded preference shares (this is somewhat like bonds) went below par value. If you managed to snap up during this period of time, you are guaranteed a capital gain besides all the coupon that you're supposed to get while holding it.


I would guess that all discounted bonds are distressed. If everything goes well, it should be traded at above par value.

]]>https://forum.kiasuparents.com/post/880022https://forum.kiasuparents.com/post/880022Fri, 19 Oct 2012 09:43:17 GMT