OCBC Islamic Monthly Savings Account

OCBC Islamic Monthly Savings Account

In today's Singapore Savings Account Rates post, we bring you Singapore's OCBC Islamic Monthly Savings Account - the OCBC Al-Wadi'ah Monthly Savings Account.

OCBC Al-Wadi'ah Islamic Monthly Savings Account (Singapore) is syariah-compliant. For the Haj, marriage, or for your child's education, Al-Wadi'ah Monthly Savings Account helps achieve savings goals while protecting beliefs.

OCBC Islamic Monthly Savings Account (Singapore) helps you save a fixed amount every month for 24 months using the Shariah concept of Al-Wadi'ah Yad Dhamanah (Guaranteed Safe Custody) and the potential to earn Hibah which is 4 times higher than usual savings or current account rates.

Benefits of OCBC Islamic Monthly Savings Account:
- Potential to earn 4x higher hibah than a usual savings or current account
- Receive the full principal sum plus potential hibah in case of early withdrawal
- 24 months savings period
- Fixed monthly savings amount of as low as S$100 (S$50 via mail-in application)
- No monthly account fees

Eligibility for OCBC Islamic Monthly Savings Account:
- Individuals aged 5 years old and above
- For individual less than 18 years old, a trust account will be opened with parent(s)/guardian(s) who must be at least 21 years old
- Minimum monthly savings of S$100 (S$50 via mail-in application) and in incremental multiples of S$10, and maximum is S$5,000

Thanks for reading Singapore Savings Account Rates, where we bring you the latest and best Singapore savings account rates.

The Team
Singapore Savings Account Rates

Exit Strategy for Full Deposit Guarantee

Exit Strategy for Full Deposit Guarantee

In a joint press release issued by the Monetary Authority of Singapore (MAS) on 22 July 2009 on the MAS site, it was announced that a Tripartite Working Group was formed by the monetary authorities of Singapore, Hong Kong and Malaysia to look into the exit strategy for full deposit guarantee by the end of 2010.

Here are the announcement details on the exit strategy for full deposit guarantee:

"Joint Press Release by the Hong Kong Monetary Authority, Bank Negara Malaysia and the Monetary Authority of Singapore

Tripartite Working Group on Exit Strategy for the Full Deposit Guarantee

22 July 2009

Taking the opportunity of the 14th EMEAP* Governors’ Meeting being held in Hong Kong, the Hong Kong Monetary Authority, Bank Negara Malaysia and the Monetary Authority of Singapore announced today (Wednesday) the establishment of a tripartite working group to map out a coordinated strategy for the scheduled exit from the full deposit guarantee by the end of 2010 in their respective jurisdictions."

***

* EMEAP, the Executives' Meeting of East Asia-Pacific Central Banks, is a cooperative organisation of central banks and monetary authorities in the East Asia and Pacific region.

It comprises the Reserve Bank of Australia, People’s Bank of China, Hong Kong Monetary Authority, Bank Indonesia, Bank of Japan, The Bank of Korea, Bank Negara Malaysia, Reserve Bank of New Zealand, Bangko Sentral ng Pilipinas, Monetary Authority of Singapore, and Bank of Thailand.

(Source: Monetary Authority of Singapore)

So what does the statement on exit strategy for full deposit guarantee mean to ordinary bank savers and deposit account users like you?

For us, it means the Government guarantee on unlimited and full savings deposits in Singapore will very likely be withdrawn come end of December 2010.

The only question that remains to be answered is the quantum of savings deposits to be guaranteed. Before the financial crisis, the bank guarantee for savings deposits was up to S$20,000. MAS had earlier mentioned that discussions were on-going to look into raising the amount of deposit guarantee.   

In your personal finance portfolio management, you should take this 'Exit Strategy for the Full Deposit Guarantee' into consideration when using savings accounts, fixed deposits and other similar products.

Standard Chartered SCB Savings Account Rates

Standard Chartered SCB Savings Account Rates (eSaver account Singapore)

Singapore Savings Account Rates presents new Standard Chartered Bank SCB Savings Account Rates (eSaver account) in Singapore this day in July 2009 for your information.

New Standard Chartered SCB Savings Account Rates for eSaver apply as of 20 July 2009.

Standard Chartered Bank SCB e$aver Savings Account:
Deposit Balance | New interest rates

Less than S$50,000 = 0.30% p.a.

S$50,000 to S$199,999 = 0.40% p.a.

S$200,000 & above = 0.50% p.a.

These savings interest rates are effective from 20 July 2009.

Before planning to invest money in savings account and other financial products, you must verify SCB bank savings account interest rates. Standard Chartered Bank SCB savings account rates are subject to change and may change without notice. You should always read Singapore Savings Account Rates disclaimer before using the information on savings account rates provided here for investing.

Thanks for reading Singapore Savings Account Rates, where we bring you the best, the latest and the highest savings account rates in Singapore.

Singaporeans Are Saving More

Singaporeans Are Saving More

High-income Singaporeans (those earning S$7000 monthly) are saving more.

These Singaporeans, besides saving more, are also investing less with the precipitous decline of the global economy according to a Nielsen Company poll.

The study showed that about four in 10 (39%) Singaporeans were saving more of their hard-earned money before the crisis.

But after the collapse of the economy, about half (52%) are saving most of their funds into savings accounts.

A smaller proportion of Singaporeans from this group are putting their money into investments (-7%) and insurance (-6%).

This survey on Singaporeans saving more was conducted in March 2009 to find out how high-income wage earners dispose cash before and after the global economic crisis.

921 Singaporeans aged 18 years and above and earning more than S$7,000 a month were polled.

Are you also one of these Singaporeans saving more during this economic recession?

Sg Banks

List of Sg Banks (Local)

Singapore-savings-account-rates.blogspot.com present the list of Sg banks in Singapore (Sg) for your perusal.

List of Sg Banks In Singapore:

1) BANK OF SINGAPORE LTD
2) DBS BANK LTD
3) FAR EASTERN BANK LTD
4) ISLAMIC BANK OF ASIA LIMITED, THE
5) OVERSEA-CHINESE BANKING CORPORATION LTD
6) UNITED OVERSEAS BANK LTD

More list of Sg banks in Singapore (Sg) will be presented soon.

Keep reading Singapore Savings Account Rates.

UOB High Yield Account

UOB High Yield Account (Singapore)

Bank depositors in Singapore who plan to open UOB High Yield Account can find out the latest interest rates today as Singapore Savings Account Rates presents the UOB High Yield Account interest rates.

Current UOB High Yield Account interest rates are correct as at 21 July 2009.


UOB High Yield Account's Premium Interest Rate (% p.a.):

Total Value of Your Deposits And Investments+ | Prevailing Premium Interest Rates*

S$1 million & above = 0.50


S$500,000 to < million =0.40


S$200,000 to < S$500,000 =0.30


< S$200,000 =0.25

(Interest rates subject to change without notice.)


UOB High Yield Account interest rates may change without notice. UOB High Yield Account interest rates are quoted for information only, not for investing money.

You must always verify the interest rates of savings accounts as a matter of habit in your management of personal finance, according to your financial, investment, asset allocation profile.

Keep on reading Singapore Savings Account Rates, where we bring you the best, the latest and the most popular savings account rates in Singapore.

Maybank Foreign Currency Account Rates 2009

Maybank Foreign Currency Account Rates 2009

Singapore Savings Account Rates presents Maybank Foreign Currency Time Deposit Account Rates of the iSavvy Foreign Currency Time Deposits. Maybank time deposit rates are correct as at 11 July 2009.

Maybank iSavvy Foreign Currency Account Rates (Time Deposit Rates quoted in % p.a.)

Rates quoted for Month(s) = 1, 2, 3, 6 months

Currency | Minimum sum | Rates (% per annum)

1) Australian Dollar = Australian Dollar, 10K, 2.4000, 2.6000, 2.6000, 3.0000

2) Euro = Euro, 10K, 0.0000, 0.2000, 0.3000, 0.6000

3) Sterling Pound = Sterling Pound, 10K, 0.0000, 0.2000, 0.5000, 0.7000

4) New Zealand Dollar = New Zealand Dollar, 10K, 1.8000, 2.0000, 2.1000, 2.5000

5) US Dollar = US Dollar, 10K, 0.1000, 0.2000, 0.3000, 0.6500

Maybank foreign currency account rates 2009 are subject to change without notice. Kindly refer to bank for latest Maybank foreign currency account rates 2009 before you invest part of your income or savings.

Keep reading Singapore Savings Account Rates.

OCBC Bank Address, Telephone, Contact

OCBC Bank Address, Telephone, Contact (Singapore)

We bring you OCBC Bank Address, Telephone, Contact in Singapore.

Personal accounts (Deposit/Loans/Overdraft) enquiries:

24-hours Hotline: 1800 438 3333

OCBC Bank Address:

OCBC Bank
65 Chulia Street
#01-00
OCBC Centre
Singapore 049513

OCBC Bank Singapore Online Contact:
OCBC website


If you think there are any errors in OCBC Bank Address, Telephone, or Contact, kindly let us know.

This bank address, telephone and contact details are provided for your interest only and not as invitation to invest your money, hard-earned savings into financial investments or banking products. You should perform your own due diligence and seek second opinion before investing in bank products.

Thanks.
Singapore Savings Account Rates

Bank Deposits Protected

Bank Deposits Protected

In today's The Straits Times, it was reported that MAS plans to raise the limit on bank deposits protection in Singapore.

Currently, all sums in bank deposits in Singapore are protected and guaranteed until end December 2010. Once the guarantee ends, the previous rule that protects bank deposits of up to S$20,000 will be back in place.

With the additional coverage of bank deposit protection, the cost to banks will be raised. Will this cost be passed on to depositors? No one is saying that it will happen, but logically banks, as commercial entities, will not absorb the extra cost without thinking of ways to recoup it.

The other thing which came out of this report is that there is no word that the unlimited bank deposit guarantee will continue after 2010.

With the impending end of unlimited bank deposit protection after 2010, savers and investors should consider deploying their savings and fixed deposits with that in mind.

Thanks for reading our little insight on Singapore Savings Account Rates today.

Bank of Singapore Savings Account Rates

Bank of Singapore Savings Account Rates (Finatiq)2009

The latest Bank of Singapore BOS (also known as Finatiq) deposits rates are presented today in July 2009.

When you invest money in Bank of Singapore (Finatiq) investment account, you earn interest rates like a savings account in Singapore.

Get 0.4% per annum on Bank of Singapore (Finatiq) account from the first Singapore dollar onwards. Note that Bank of Singapore 'savings' account rate.

Bank of Singapore Interest Rate:
0.400% per annum *

* Singapore dollar account deposits held by or for an individual or a charity will be insured in accordance with and for up to the limits specified in the Deposit Insurance Act.

Thank you for investing time to read our Singapore Savings Account Rates.

Fairprice Plus Savings Account Rates

NTUC Fairprice Plus Savings Account Rates

Singapore-Savings-Account-Rates.blogspot.com presents the latest current NTUC Fairprice savings account rates. News from NTUC Fairprice's site (http://www.fairpriceplus.com.sg/savings/savings.shtm): NTUC Fairprice savings account rates will be lowered with effect from 1 August 2009.

The latest rates are shown today before August 2009 kicks in to prepare you for the NTUC Fairprice savings account rate changes.

Latest NTUC Fairprice Plus Savings Account Rates:
Savings Amount | Interest Rate (% p.a.)
First S$50,000 = 0.30
From S$50,001 to S$500,000 = 0.60
(Subject to maximum deposit of S$500,000)

Following closely the decline of POSB savings account rates, are the lowered rates an indication that the anaemic state of the economy will be prolonged?

Are banks and financial institutions finding it harder to earn money and profits for themselves to pay depositors like you some interest for your investment in their savings accounts?

Is it better to move part of your cash from savings accounts to invest in higher yielding financial investments?

Thanks for reading Singapore Savings Account Rates blogspot.com, where we bring you the latest and best savings account rates in Singapore.

POSB Savings Account Rates

POSB Savings Account Rates

Singapore Savings Account Rates blogspot.com presents the latest POSB Savings Account Rates that were announced on 1 July 2009.

The savings account rates for POSB Savings Accounts have dropped since our last update.

Table showing POSB Savings Account Rates:

POSB PASSCARD savings account rates:
First $3000 = 0.125%
Next $47000 = 0.125%
Next $50000 = 0.250%
above $100K = 0.250%

POSB PASSBOOK savings account rates:
First $3000 = 0.125%
Next $47000 = 0.125%
Next $50000 = 0.250%
above $100K = 0.250%

Keep reading Singapore Savings Account Rates for the latest and best savings account rates of banks and financial institutions in Singapore.

Protect Your Savings Account 2

Protect Your Savings Account (Part 2)

In the continuing series on 'Protect Your Savings Account', Singapore-Savings-Account-Rates.blogspot.com will share some ideas on how to protect your savings account. Some of you may have heard of these nuggets of information. That is OK. It is better to be educated than to be ignorant.


Protect Your Savings Account(2)
Beware of super-high interest rate promotions and rewards.

While banks will honour these upfront goodies, consider why these banks will want to lure new customers in such a manner.

Is the bank desperate for money because of a cash crisis or a financial crisis that could shake its foundation to the core? Are they building up a cash hoard to satisfy some audit requirement?

Is there something that bank depositors don't know but should know about?

Or are they using these high interest rates to bait high net-worth customers so that they can sell other banking products or services?

At the very least, educate yourself on the financial stability of the bank or financial institution that is offering such attractive interest rates.

Always don't forget to read the fine print of your savings account for charges and any penalties.

More suggestions on how to protect your savings account will be discussed later.

Thank you for reading Singapore Savings Account Rates.

NTUC Thrift Savings Account Rates

NTUC Thrift Savings Account Rates

Singapore Savings Account Rates blogspot presents the latest and best NTUC Thrift Savings Account Rates. The best rates from NTUC Thrift have been lowered from previous higher interest rates.


These are the NTUC Thrift Savings Account Rates (per annum):

NTUC Thrift Bonus Savers Account = 0.40%

NTUC Thrift Savings Account = 0.40%

NTUC Thrift Junior Savings Account = 0.42%

NTUC Thrift Flexisave Account = 0.25%


NTUC Thrift savings account rates, correct as at 6 July 2009. However these bank savings rates are subject to change without any prior notice.

You should re-confirm with NTUC Thrift before using these financial figures for your financial investment, fund investing, insurance or other personal finance needs.

Thanks for reading Singapore-savings-account-rates.blogspot.com.

My Savings Account Rates

My Savings Account Rates of POSB Bank

Take note of new MySavings Account Rates of POSB Bank which was declared by POSB on 1 July 2009.

List of My Savings Account Rates of POSB Bank:

For monthly savings amount of:
$50 to $290 = 0.125%
$300 to $3000 = 0.400%

Treasures bank account holders get the same savings account rates for MySavings Account as ordinary bank depositors. There is no extra interest payment for Treasures customers from 1 July 2009.

My Savings Account Rates of POSB Bank was brought to you by Singapore Savings Account Rates blogspot.com.

UOB CPF Investment Account Rate

UOB CPF Investment Account Rate

Singapore Savings Account Rates presents the UOB CPF Investment Account Rate this day in July 2009.

UOB CPF Investment Account Rates:
Below $10,000 = 0.125%
Above $10,000 = 0.125%

UOB SRS Supplementary Retirement Account Rate
Below $10,000 = 0.125%
Above $10,000 = 0.125%

SRS savings that are placed in the CPF investment account for investing earn the interest rates as shown above. If this rate of return meets your investing needs, consider using this CPF investment account.

Thanks for reading Singapore Savings Account Rates blogspot.com.

Best Bank Savings Rates

Best Bank Savings Rates

Singapore-Savings-Account-Rates.blogspot.com presents the best bank savings rates for investors in Singapore for the month of July 2009. These are the top, latest, highest and best bank savings rates of selected savings accounts we have found recently.

All the best bank savings rates are correct as of 3 July 2009. Before investing, you should ascertain the bank savings rates with the respective banks and financial institutions before using the bank savings rates we provide.

Here is the list of the best bank savings rates in Singapore.



Best Bank Savings Rates in Singapore:

Bank Savings Account | Amount | Interest Rate (% per annum)

Fairprice Plus, $50,001 and more, 1.00%

UOB Passbook Savings / Uniplus Account, >$100,000 (with top up amount), 0.8%

Maybank iSavvy account, $50000 and more, 0.75%

Standard Chartered Bank e$aver/e$aver Kids!/World Partner Savings Account, $200,000 and more, 0.68%

RBS Millennium Account, $500,000 and more, 0.55%

State Bank of India Savings Special Account, $1000 and more, 0.55%

Indian Bank Savings Account, –, 0.5%

Maybank Youngstarz, SaveUp accounts, $50000 and more, 0.5%

NTUC Thrift Savings Account, $1, 0.50%

and more.

(Bank savings interest rates are subject to change without prior notice. Correct as at 3 July 2009.)


If you know of better bank savings rates, let us know. We will be pleased to add your bank or financial institution's savings account rates on our list.

Thanks for reading Singapore Savings Account Rates blogspot.com, where we bring you the latest and best savings account rates in Singapore.

UOB Savings Account Rates

UOB Savings Account Rates

The latest update of UOB Savings Account Rates occurred on 1 July 2009. UOB Bank has reduced the interest paid out on its various UOB savings account rates recently.

Singapore Savings Account Rates blogspot.com presents the various UOB savings account rates for your information in this month of July 2009.

UOB FlexiDeposit Account (% p.a.)
First S$15,000 = 0.1500
Next S$85,000 = 0.2500
Next S$200,000 = 0.3500
Remaining Balance Above S$300,000 = 0.4500

UOB Passbook Savings / UOB Junior Savers / UOB Fun Savers / UOB Coins Bank Accounts (% p.a.)
First S$3,000 = 0.1250
Next S$47,000 = 0.1750
Next S$50,000 = 0.3250
Remaining Balance Above S$100,000 = 0.4000

UOB i-ACCOUNT / UOB Campus Account (% p.a.)
First S$15,000 = 0.1500
Next S$85,000 = 0.2500
Next S$200,000 = 0.3500
Remaining Balance Above S$300,000 = 0.4500

UOB High Yield Account (% p.a.)
S$1 million and above = 0.5000
S$500,000 to < S$1 million = 0.4000
S$200,000 to < S$500,000 = 0.3000
Less than S$200,000 = 0.2500

UOB Savings Account Rates are for information only. You should re-confirm the savings account rates with UOB before investing any money.

Keep reading more about UOB Savings Account Rates on Singapore Savings Account Rates.

OCBC Savings Account Rates

OCBC Savings Account Rates

On 1 July 2009, there were updates on OCBC Savings Account Rates. OCBC Bank has lowered the interest rates on various savings accounts in Singapore.

The following are the various OCBC Savings Account Rates.

OCBC Easisave Account (with and without Debit Card) Rates / OCBC MoneyMax Rates:
First $10000 = 0.125% p.a.
From $10,001 to $50,000 = 0.175% p.a.
From $50,001 to $150,000 = 0.325% p.a.
From $150,001 to $1 million = 0.400% p.a.
Above 1 million dollars = 0.480% p.a.

OCBC Savings Account Rates:
(this applies to Passbook Savings Rates/ Young Savers Account Rates/ Basic Banking Rates / Statement Savings Rates/ MultiSave Account Rates/ Seniorate Account Rates / Moi Account Rates)

First $10000 0.1250
From $10001 to $50000 0.1750
From $50001 to $250000 0.3250
Above $250000 0.4000


OCBC Savings Account Rates are correct since 1 July 2009.

OCBC Savings Account depositors looking for high investment returns or high yield investment opportunities may want to see if its still worth it to keep large portion of their hard-earned money in their savings account.

OCBC Savings Account Rates were brought to you by Singapore Savings Account Rates blgospot.com.

Latest DBS Savings Account Rates

Latest DBS Savings Account Rates

Singapore Savings Account Rates present the latest DBS Savings Account Rates for July 2009. The current rates of DBS savings accounts are correct as of 1 July 2009.

Table showing latest DBS Savings Account Rates:

From Singapore Savings Account Rates

Savings account rates have fallen for DBS Savings Plus, DBS Autosave (personal) and DBS Autosave (non persoanl) savings accounts.

We will update more savings account rates from other banks in Singapore soon.

Protect Your Savings Account 1

Protect Your Savings Account (Part 1)

In times of economic recession, every Singapore cent and Singapore dollar that you save will go a long way to ride out the stormy economic weather. While there appears to be green shoots of recovery in parts of the world, there are still many uncertainties on the path to economic recovery. At Singapore-savings-account-rates.blogspot.com, we understand your concerns as we are also banking customers stuck in a recession just like you.

The last thing you want to see is to lose your hard-earned money without any precautionary plans to protect your savings account. We have prepared the following steps that you can take to protect your savings account.

So how can you protect your savings accounts? Let Singapore Savings Account Rates show you some ideas.

Protect Your Savings Account(1)
Ensure deposit insurance.

Check that your bank or financial institution, whether foreign-owned or local-owned, is covered by the Deposit Insurance Scheme and the Singapore Government Guarantee on Deposits. At the present time, our deposits are guaranteed until the end of the year 2010.

After the insured period ends, check that the amount in your deposits are fully covered by revised insurance terms.

Do not put money into deposits with syndicates that are not accredited, or those that deal with loan sharks and other illegal activities. Those are a definite no no.

Do not just concentrate on getting the highest and best savings account interest rates in Singapore. How you take care of your savings account has a great impact on your likelihood of losing money.

We hope this simple step, of the many more that we will share, will protect your savings account and your hard-earned money.

Thanks for reading Singapore Savings Account Rates.