Best bank to get interest on savings account ?

[PNGMK]

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>

[PNGMK]

https://www.sbising.com/TD_promotions

SBI is running a promo until end of May

SGD 1.35%
USD 1.75%

[Angelus]

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.

[PNGMK]

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.

[Wd40]

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.

Sent from my Redmi Note 4 using Tapatalk

[GlenT]

I used to use the OCBC 360 account, but have stopped ever since they kept reducing the benefits/increasing the conditions required to get bonus interest rate.

Have moved to the DBS Multiplier recently and would highly recommend it. The conditions are relatively straightforward (total of salary + spending) and if you are able to hit a high enough tier based on income/spending, the interest rate of 2+% can be really attractive. Only challenge is that to hit the 3 types of spending can be quite tricky...

[nextlife01]

Best savings accounts in Singapore with the highest interest rates (2019)

UOB One account
OCBC 360 account
DBS Multiplier account
POSB SAYE account
Standard Chartered BonusSaver account
Bank of China SmartSaver
Maybank Save Up programme
Citi MaxiGain Savings Account
CIMB FastSaver account