CIMB, Maybank or SCB ?

[shock8]

Hey guys, I decided to open a new savings account and can't get to a decision, anyone can help me with it?

CIMB StarSaver Account
Maybank iSAVvy Savings Account
Standard Chartered eSaver

Dont really know the reputation of these 3 banks ...

Or if you all got any better recommendations can help and advise me too thanks !

 

[lzydata]

What are you looking for in a savings account? High interest? Convenience? Good service? Why have you chosen these three? You need to be more specific.

 

[GetFuzzy]

I have the first two.

Recommend CIMB Starsaver Savings for highest interest(0.8%) solid savings(incremental of S$100 or more per month) but quite inconvenience(only 2 outlets, 1 at raffles place and 1 at Orchard Rd). Need to deposit 100$ every month to enjoy 0.8% interest(must keep minimum 1000$ inside account to enjoy 0.8%)

Maybank iSavvy (0.30% - 5000$ < X, 0.1875% - 5000$ > X) for backup and convenience.

Don't put all your eggs into one basket.

 

[GetFuzzy]

FRANK by OCBC - The Brand New Way to Bank

FRANK by OCBC also not bad...

0-10000$ - 0.30%
10000-100000$ - 0.50%
X>100000$ - 0.60%

 

[MoDiE]

CIMB can open the Starsaver Savings account.. Starsaver account is current account..

everything is the same, except for the free cheque book and also deposit 100/mth instead of 500/mth to enjoy the 0.8% p.a. interest..

plus if u deposit like say 300 at one go, they will segregate the deposit so next 3 months you will all enjoy 0.8% p.a.

 

[GetFuzzy]

CIMB can open the Starsaver Savings account.. Starsaver account is current account..

everything is the same, except for the free cheque book and also deposit 100/mth instead of 500/mth to enjoy the 0.8% p.a. interest..

plus if u deposit like say 300 at one go, they will segregate the deposit so next 3 months you will all enjoy 0.8% p.a.

Wah ***** hell... I just realised I opened the Starsaver account instead of the Starsaver savings account. OMG!!!!!!!!!!!!!!!!!!!! wtf..

I remembered clearly that I told the bank personnel I want Starsaver savings account. wtf

What's the difference between current and savings account?

Self pwned to the max.

 

[haydentan]

Wah ***** hell... I just realised I opened the Starsaver account instead of the Starsaver savings account. OMG!!!!!!!!!!!!!!!!!!!! wtf..

I remembered clearly that I told the bank personnel I want Starsaver savings account. wtf

What's the difference between current and savings account?

Self pwned to the max.

The only difference for cimb is current account comes with free cheque book.

 

[GetFuzzy]

The only difference for cimb is current account comes with free cheque book.

Did the bank personnel tried to pull a fast one on me? Haha..

Why they named the current account as Starsaver account instead of starsaver current account? It's quite misleading...

 

[MoDiE]

Did the bank personnel tried to pull a fast one on me? Haha..

Why they named the current account as Starsaver account instead of starsaver current account? It's quite misleading...

its quite obvious that accounts with cheque books are current accounts... lol

 

[shock8]

What are you looking for in a savings account? High interest? Convenience? Good service? Why have you chosen these three? You need to be more specific.

Thanks you guys for the reply ... I need smth that is high interest and good service , convenience doesnt matter as I have another POSB Debit/ATM card, will be better if they allow internet banking too.

 

[shock8]

CIMB can open the Starsaver Savings account.. Starsaver account is current account..

everything is the same, except for the free cheque book and also deposit 100/mth instead of 500/mth to enjoy the 0.8% p.a. interest..

plus if u deposit like say 300 at one go, they will segregate the deposit so next 3 months you will all enjoy 0.8% p.a.

are they good ? hmm then lets say if i deposit 1000 at 1 go so next 10 months i will enjoy too ?

 

[shock8]

FRANK by OCBC - The Brand New Way to Bank

FRANK by OCBC also not bad...

0-10000$ - 0.30%
10000-100000$ - 0.50%
X>100000$ - 0.60%

hmm for the frank account, you can choose it either to be credit/debit card? or ... i dont really get the site lol

 

[shock8]

Did the bank personnel tried to pull a fast one on me? Haha..

Why they named the current account as Starsaver account instead of starsaver current account? It's quite misleading...

whats the different between the starsaver and starsaver current account?

 

[GetFuzzy]

whats the different between the starsaver and starsaver current account?

Basically, interest rate (0.80%) is the same for both.

1. Starsaver (current) account - Minimum (S$5000) to open, every month must deposit (S$500) and account must maintain minimum (S$5000) to get 0.8% interest rate. It comes with free cheque book.

2. Starsaver (savings) account - Minimum (S$1000) to open, every month must deposit (S$100) and account must maintain minimum (S$1000) to get 0.8% interest rate.

 

[GetFuzzy]

hmm for the frank account, you can choose it either to be credit/debit card? or ... i dont really get the site lol

I also don't really get it. lol

I think you can choose to take ATM card or debit card. Credit card is optional.

 

[GetFuzzy]

are they good ? hmm then lets say if i deposit 1000 at 1 go so next 10 months i will enjoy too ?

Not very sure but I don't think it works this way. Need to call CIMB and ask.

 

[GetFuzzy]

Thanks you guys for the reply ... I need smth that is high interest and good service , convenience doesnt matter as I have another POSB Debit/ATM card, will be better if they allow internet banking too.

Go for CIMB Starsaver SAVINGS account then. Highest interest rate and comes with one ATM card and internet banking too.

 

[shock8]

Hmm alright then, thanks for the advice..

One more thing I want to ask before making my decision...

What does the Interest-on-Interest (paid every 6 months) means for Maybank ISavvy Savings account means?

Thanks

 

[MoDiE]

Hmm alright then, thanks for the advice..

One more thing I want to ask before making my decision...

What does the Interest-on-Interest (paid every 6 months) means for Maybank ISavvy Savings account means?

Thanks

It means 6% on the interest earned, not on the principal amount. So if you earned $1 interest, you'll get bonus of 6 cents.

 

[shock8]

alright .. thanks guys !