Yes, that's right. Get 5% return when you put money into this savings account in Singapore. Perfectly legitimate. Extremely safe. Lowest risk of default. How? Read on ...
Singapore Savings Account Rates helps you to earn cash from savings accounts, savings bonds and other financial investments in Singapore.
CPF Interest Rates from 1 April 2016 to 30 June 2016
Up to 3.5% per annum on the Ordinary Account
Up to 5% per annum on the Special and Medisave Accounts
CPF members aged 55 and above will earn an additional 1% extra interest on the first $30,000 of their combined balances
Central Provident Fund (CPF) members will continue to earn interest rates of up to 3.5% per annum on their Ordinary Account (OA) monies, and up to 5% per annum on their Special and Medisave Accounts (SMA) monies in the second quarter of 2016. These interest rates include an extra 1% interest paid on the first $60,000 of a member’s combined balances (with up to $20,000 from the OA) which is part of the Government’s efforts to enhance the retirement savings of CPF members.
CPF members aged 55 and above will also earn an additional 1% extra interest on the first $30,000 of their combined balances from January 2016. This is paid over and above the current extra 1% interest that is earned on the first $60,000 of their combined balances. As a result, CPF members aged 55 and above will earn up to 6% interest per year on their retirement balances.
The extra interest received on the OA will go into the member’s SA or Retirement Account to enhance his or her retirement savings. If a member is above 55 years old and participates in the CPF LIFE scheme, the extra interest will still be earned on his or her combined balances, which includes the savings used for CPF LIFE.