2017 Best Straightforward Savings Account Rates (Updated 17 Mar 2017)
Today we list the top savings account rates in Singapore.
These are straightforward savings accounts; that is, no fancy requirements for salary credit, insurance / investment purchase, GIRO transfers, credit card spend, etc. We intentionally left out those accounts that require incremental average daily balance like Standard Chartered bank eSaver.
Just deposit some money into these savings account and start earning high interest. You withdraw your savings anytime you want without penalty of being locked-in like a fixed deposit.
These straightforward savings accounts can be used by those with spare cash after maxing out on the various multi-transaction savings account like OCBC 360, UOB One, DBS Multiplier, BOC Smartsaver, Maybank2u SaveUp , etc.
2017 Best Straightforward Savings Account Rates: (On first $50,000)
- CIMB FastSaver Account = 1.0 % on first $50K, 0.6 % above $50K
- CIMB StarSaver (Savings) Account = 0.8 % with minimum $1000 initial deposit
- HL Bank iSavings Account = 0.86% on first $50k [Actual rates: 0.5% (first $20K), 1.1% (Next $30K), 1.0% (Next $150K), 0.5% (above $200K)]
- RHB High Yield Savings Account = 0.816% on first $50K [Actual rates: 0.08 % on first $10K, 1.0% on next $90K, 0.08% above $100K]
- Singapura Finance Gold & Junior Savers = 0.6 % (up to $500K, for age 55 years and more; or kids)
You may want to note that Singapore Dollar deposits of non-bank depositors are insured by the Singapore Deposits Insurance Corporation, for up to S$50,000 in aggregate per depositor per Scheme member by law.
So for savings deposits above $50K, the sum deposited will not be insured.
See also:
6% p.a. Singapore Retirement Savings Account Rates
Invest in 2.75% Singapore Government Bonds
Safest Singapore Fixed Deposit Rate *Popular Post*
Safest Singapore Fixed Deposit Pays 2.39% p.a.
Maybank iSavvy Savings Rate Update June-Aug 2017
New SCB Fixed Deposit Update June 2017
BOC Fixed Deposit Promotion Rates
No hurdle 1.35% iSavings Account
Also all 2017 interest rates are subject to change without prior notice at discretion of the bank or fixed income investment company.
Promotional interest rates expire at dates fixed by respective banks. Please check with respective banks for details.
For you own protection, perform due diligence to assess the suitability of these financial products for your personal financial circumstance.
Thanks for reading Singapore Savings Account Rates.
The Team
