saving plans

[ryanchology]

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[knightdreamer]

which saving plan has the best interest rate out there?
currently using normal posb account. dont intend to invest. just want to be simple and deposit money inside to grow interest

Try cimb bank starsaver saving account

 

[lzydata]

Up to the end of August, Stanchart's eSaver, 0.90% pa and above. Otherwise, CIMB's StarSaver at 0.8% pa.

Standard Chartered Bank - Priority Banking

 

[dreant]

Up to the end of August, Stanchart's eSaver, 0.90% pa and above. Otherwise, CIMB's StarSaver at 0.8% pa.

The 'bonus' interest only applies to your incremental balance (average daily balance of Feb - average daily balance of Jan); in other words, you'll only earn that 0.8% for only 1 month, and only once.

CIMB Starsaver gives you 0.8% on your entire balance; and interest is calculated daily (and accrued monthly).

 

[lzydata]

The 'bonus' interest only applies to your incremental balance (average daily balance of Feb - average daily balance of Jan); in other words, you'll only earn that 0.8% for only 1 month, and only once.

CIMB Starsaver gives you 0.8% on your entire balance; and interest is calculated daily (and accrued monthly).

Assuming TS does not already have an eSaver account, because he talks about his money being in POSB, any fresh funds he transfers into a new eSaver account with Stanchart will earn 0.9% pa or above up to 31 August. But yes, this is a time-limited offer compared to CIMB. Just providing a second option in case CIMB is not so attractive, such as inconvenience.

To add, a third option is OCBC's Bonus+ Higher-Interest Deposit Account which can yield up to 0.6933% pa provided there are no withdrawals. An initial deposit of $10k is needed. The conditions to get this maximum rate are quite strict so you have to be careful.

http://www.ocbc.com.sg/personal-banking/Accounts/higher-interest-deposit-bonus-plus.html

 

[zhizhong07]

You might want to try standard Chartered e-saver. From experience, those not so common bank will give the best rate, as compared to those established like DBS, etc...