As long as you’re protected by any of these insurance companies, you don’t have to worry about spending beyond your means when something unexpected happens while you’re travelling. Earn up to 1% p.a. To maximise the account, you will need to be drawing at least $3,000 for a small 0.10% bump in the bonus interest rates. Unlike other banks, it doesn’t require account holders to have a minimum salary credit or credit card spend as long as your monthly transactions amount to $2,000. Bank of China may be known as a bank with inconvenient services sometimes… but if you really want a bank that offers interest rates higher than most banks in Singapore, then they might be the one for you. interest on the Standard Chartered Jumpstart account on balances up to $20,000 year-round. *Additional interest capped at first $50,000 of your account balance. This means that cash withdrawals are a little more tricky — although it might help you save more since you can’t withdraw your money that easily. Compare savings accounts across all banks in Singapore. These changes will take effect on 1 Nov 2020 and the revision will be applicable to all new and existing UOB One accounts. The Standard Chartered BonusSaver account is great because it gives you extra interest if you spend more via a Standard Chartered credit card. A savings account is an account in which you store money that you don’t intend to use for daily expenses. The Stan Chart JumpStart account is pretty straightforward. . But I supposed that’s a good thing as you’ll be less likely to make withdrawals. If you don’t like having to use different cards in shopping and paying your dues, then the Standard Chartered Bonus Saver is the ideal account for you. Then the UOB One is your best bet because you only need to make sure that you spend $500 a month on your UOB credit cards: The option to pay three bills by GIRO instead of crediting your salary means that this is also ideal for those without a steady paycheck (think: freelancers and stay at home moms). Apply online for any of our wide offerings which include savings, current and time/term deposit accounts. The interest rate shown in the table below will be the interest rate effective 1 Oct 2020. DBS Multiplier Account. INTEREST RATES $0 $3,000. 2020 has not been the best for of years if you have your money in a savings account with high-interest rates. Unlike other comparison sites, we’ve excluded short-term promos from this comparison as the perks don’t last long. With an interest rate that goes as high as 3.8%, DBS Multiplier Account is the savings account to get if you want your money to increase as it sits with your bank. Here is how much interest you can earn after 1 Jan 2021: If you take up a home mortgage loan or invest with DBS as well. The criterion to hit the OCBC 360 Grow Bonus interest rate is probably out of reach for most of us. Because once the promo expires, you’ll be stuck with an interest rate that’s not the most ideal. Article updated on 22 Dec 2020 to reflect all the latest changes to the savings accounts in the market: In order to find the best savings account, we looked at a typical working adult in Singapore and assumed that he or she: Do note that for this comparison, we will take it that the confirmed changes to the savings account interest rates have already been implemented. Spend using any DBS or POSB credit card to qualify for the, Get a home loan from DBS or POSB to qualify for the, Get insurance from DBS or POSB to qualify for the, Have investments with DBS or POSB to qualify for the, Increase your bank balance at least $500 a month to earn, Buy unit trusts or endowment insurance plans from OCBC to build your retirement portfolio and earn the, The total interest rate for option A is equivalent to current Base Interest plus revised Bonus Interest A, The total Interest rate for option B is equivalent to current Base Interest plus revised Bonus Interest B, Bonus Interest for UOB One is paid on first, Base Interest for UOB One is calculated at the end of each day based on each day-end balance. It's easy to become lost in a sea of qualifications to unlock boosted rates, all while trying to avoid hidden requirements and fees. 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