Most savings accounts in Singapore offer paltry returns. However, that doesn’t mean you should short-change yourself. We’ve looked around and found Singapore’s best savings accounts and deposit promotions for December 2014. Keep checking back as we continually update this article throughout the year.
- OCBC 360 Account – Up to 3.05% per year
OCBC has been incredibly aggressive in attracting new depositors with the 360 Account and, we have to admit, the bank has been doing a great job. All you need to do every month is to:
- Credit your salary, which needs to be at least S$2,000, to the account
- Pay any three bills using the bank’s online banking system
- Charge a minimum of S$400 to any of the bank’s credit cards you own
Accomplishing each objective every month scores you 1% interest on your account balance and achieving the triple crown nets you 3%, on top of the base 0.05% annual interest (it goes up to 0.15% if your balance is above S$200,000). The best bit: the interest is calculated and compounded monthly, so you won’t get heavily penalised if you happen to only pay two bills through OCBC’s Online Banking on one month out of the year – your interest is only …read more