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Best bank to get interest on savings account ?

Discuss the different banking options, rates, offers and perks.
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PNGMK
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Re: Best bank to get interest on savings account ?

Postby PNGMK » Sat, 22 Apr 2017 6:21 pm

Strong Eagle wrote:
navruzbek wrote:Hi guys, I have just caught a gap here. The interest rate is 5% in my country, so i can pay you 4 % (earning 1% for myself) in dollar for the 12 month period. what u think?


Yes, well, putting my money into Uzbekistan with someone I don't know doesn't sound like a very good strategy at all.

It's five percent because it is high risk.


On what a wonderful idea uzbek - let me get my cheque book right now... now who do I write the cheque out to>
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PNGMK
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Re: Best bank to get interest on savings account ?

Postby PNGMK » Mon, 24 Apr 2017 3:16 pm

https://www.sbising.com/TD_promotions

SBI is running a promo until end of May

SGD 1.35%
USD 1.75%
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Angelus
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Re: Best bank to get interest on savings account ?

Postby Angelus » Mon, 15 Oct 2018 12:10 am

For a daily expense account I would recommend OCBC 360. Good interest and so far few complaints about OCBC's service.

Terrible experience with UOB.

For a savings account that you don't intend to touch you can check out Citi Maxigain. Very few requirements except for a 15k initial deposit but the interest is at ~2.5+% now (it fluctuates).

Both accounts should be covered up to 50k by the government.

yssunil
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Re: Best bank to get interest on savings account ?

Postby yssunil » Thu, 10 Jan 2019 9:32 am

PNGMK wrote:https://www.sbising.com/TD_promotions

SBI is running a promo until end of May

SGD 1.35%
USD 1.75%


How does these USD deposits work? Are you subjected to
1. Currency Translation charges
2. Currency fluctuation risks?


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PNGMK
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Re: Best bank to get interest on savings account ?

Postby PNGMK » Fri, 11 Jan 2019 9:02 am

Yes to both. It makes sense if your ultimate goal is to hold USD (which mine is) as you can cash out with a USD draft at the end of the TD.
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Wd40
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Re: Best bank to get interest on savings account ?

Postby Wd40 » Fri, 11 Jan 2019 11:23 am

Use interactive brokers, fund it with SGD convert it to USD at near spot rates and buy US treasuries. This is a better way to do it than hold USD in an Indian bank in Singapore.

Spend some time on Money Mind forum in HWZ, it is the place if you want to learn how to manage your money.

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