Simple and straightforward savings account - ideal for people looking for a fuss-free, park-and-save savings method, Although not the best, High Yield has a pretty decent base and starting bonus interest rate, Not ideal for people who cannot maintain a balance of at least S$10,000 - S$100,000, Does not incentivise spendings hence not for those who intend to spend from this account, Initial deposit: S$1,000 (New-to-Bank) / S$20,000 (Existing-to-Bank), Fall below fee: S$10 (if your average daily balance falls below S$500), Early closure fee: S$30 if below 6 months, Citizenship status: Singaporeans, PRs and foreigners, Minimum age to open an account: 18 years old. A high interest savings account is a type of savings account that pays higher interest than standard savings accounts. RETHINK YOUR RETIREMENT STRATEGY WITH CONCEPT OF “SEMI-RETIREMENT”! These two accounts are perfect for those who are just lazy and want to park their money without thinking too much!!! with $100,000 deposit. RHB Yield Savings Account is an easy-to-open option with a very simple interest rate structure. (adsbygoogle = window.adsbygoogle || []).push({}); This website is designed to educate and provide general information only on the subject matter covered. About RHB USD High Yield Bond Fund RHB USD High Yield Bond Fund is an open-end unit trust feeder fund established in Malaysia. To be eligible to open the account, you will have to be 16 years of age. These two accounts are perfect for those who are just lazy and want to park their money without thinking too much!!! HERE’S HOW YOU CAN SLOWLY ENJOY YOUR SingapoRediscover VOUCHERS TILL JUN2021! CIMB launched a Promotional campaign that allows you to have a chance to win a pair of Business Class Tickets and 5-star hotel accommodations to locations across the globe, whilst taking care of their leave allowance at the same time. Saving in Singapore is tough nowadays. With no online or mobile banking application now it is hard to bank more with them. initial deposit of $1,000 to be eligible for the account. If you are new to RHB and have 20k spare cash, you can qualify, But if you are already an existing customer, all you need is to deposit. Required fields are marked *. Your effective interest rate will be $458/$100,000 = 0.458%. Leave allowance of maximum S$5,000, capped at S$2,500 per person, Click to share on Facebook (Opens in new window). Nothing in this website shall be construed as providing financial advice within the meaning of the Financial Advisers Act. The RHB High-Yield Savings account helps Build your savings by earning higher interest rates. Progress is a ... you are assured of coverage, complete with protection, savings and investment benefits to prepare your loved ones for a life of unlimited possibilities. what does it mean for us? Account holders can earn 0.08% on the first $10,000 and 1% on the next $90,000. High-yield savings accounts can pay an interest rate that is 20 to 25 times the national average. Both these accounts do not need salary crediting. This promotion is only Valid From 15 October 2019 to 30 June 2020. It doesn’t help that many banks offer savings account with so many conditions such as crediting salary and spending on a credit card just to hit that desired interest! 0.40% p.a. for a deposit amount below S$10,000, 1.00% p.a. For the past 10 years, Singapore Savings Account Rates has been helping you to earn higher interest income from savings accounts, savings bonds and other financial retail investments in Singapore. This product has not been claimed by the company yet. No minimum balance required and no fall below fees. RHB High-Yield Savings Account: Another fuss-free savings account that is similar to CIMB FastSaver Account, RHB will be revising its interest rate with effect from 1 July. 100,000 is quite high!!!! Receive monthly statements for your account activities and enjoy the flexibility to make deposits and withdrawals anytime throughout the year while enjoying higher interest … 0.90% p.a. Unlike a chequing account which are meant for everyday transactions, high interest savings accounts are designed to save money in for a longer period of time. To make it easier to understand, let’s assume you deposit $100,000. No basic savings account could drive or motivate you to keep your money off your itchy hands like RHB Bonus Saver Account. with High-Yield Savings Account from 8 Aug 2016 UPDATED 27 Jan 2017 14 Sep 2016 SGNewsMan Credit Cards, Prepaid Cards, Banks, Events Due to COVID-19, some offers may no longer be valid or temporarily suspended. With this Promotion, it could be worthwhile if you have spare cash to open an account with them. Your total interest for that year is $458!! Your effective interest rate for that year will be $262.5/$100,000 = 0.2625%. As the world reels from the impact of COVID-19, central banks around the world have been cutting their benchmark rates after the U.S. Federal Reserve cut interest rates to near-zero. The Fund aims to maximise total return. for the first $50,000 is a great deal as well. $1,500. Drop us a pm to find out more on how to generate more interest than what the banks are giving you! What!!! Unfortunately, the cross out ones are over but that means that you are getting close to winning the ticket to Europe Or North/South America!!! High Yield savings plus and Fast Saver are they the same? We may be linked to other websites which are not maintained by us. BOC SmartSaver. The Standard Chartered Privilege$aver savings account offers the highest interest rate on a savings account, if the account holder fulfils the conditions. If you have been locked out of your account, you may click on “forgot password” at the login screen for RHB Mobile and follow the steps to unlock your account and reset your password. RHB Smart Account. You probably know how important it is to save money. RHB: Up to 3.08% p.a. Your effective interest rate per year will be $1,412.50/$100,000 = 1.41%p.a. Consumers can open an account without making a minimum initial deposit, and subsequently can earn up to 0.91% p.a. Monthly Minimum... CIMB FastSaver Account. INTEREST RATES. Therefore, your total interest amount for that year will be $262.5. You probably also know that high-yield savings accounts can help you hit savings goals a little bit faster by paying you a … Even though it requires more conditions to fulfil but the interest is way better and easier to achieve. Yield for One Year Investment . #3. S$8: Interest Rate at 0.05% p.a. Not to worry! To this end, we have in place a comprehensive Fair Dealing Framework to promote and inculcate a fair dealing culture throughout our organisation. Both these accounts do not need salary crediting. RHB supports FAST transfer and is one of the DI members under SDIC which means up to $75k is insured by SDIC. These high-yield savings accounts have ‘level-up criteria’ such as crediting your salary, spending on one of the bank’s credit card, start investing, take up … Initial deposit: S$1,000 (New-to-Bank) / S$20,000 (Existing-to-Bank) Minimum Average Daily Balance: S$1,000; Fall below fee: S$10 (if your average daily balance falls below S$500) Early closure fee: S$30 if below 6 months; Eligibility: who can apply for RHB High Yield Savings Account? Today, I will be sharing with you two hassle-free savings accounts which are RHB High-Yield savings and CIMB FastSaver. EIR (though this is achieved at S$100k balance). Why Buy Lion–OCBC Securities Hang Seng TECH ETF? No lock-in period, you will have the flexibility to make deposits and withdrawals anytime throughout the year while earning high interests and reaching your financial goals. Your Next $25,000 will get you 0.30% which is $75. Standard Chartered BonuSaver Account. Fees and eligibility of the RHB High-Yield Savings Account: To be eligible to open the account, you will have to be 18 years of age. for a deposit amount of the next S$90,000, 0.08% p.a. Look at the table below!!! Standard Chartered Jumpstart Interest Rates (Updated With 1 Jan 2021 Rates) How To Save MORE Money Quickly (3 Easy Steps To Take Now). 1.00% p.a. Is A Wholelife Plan Really Better For Your Newborn? Also do check our video on investment ideas with high dividends! RHB Singapore High Yield Savings Account Rates Singapore Savings Account Rates blogspot dot com is pleased to update you on savings and other banking accounts in Singapore today. Explore our products & services to achieve your financial goals. The Fed also recently announced that they will keep interest rates near zero until 2023. For those who are planning to open a CIMB FastSaver Account, You Are In Luck!!! Our website does not guarantee the accuracy, adequacy or completeness of the information provided and disclaim liability for errors or omissions in such information and materials. To be eligible for the 1.00% p.a., account holders need to deposit at least S$10,000. High Yield Savings Plus A/C Rates (% p.a.) Next S$90,000: 1.00% p.a. The Fund aims to maximise total return. With this savings account, not only you will enjoy high interest earnings on your account balance, the more you save and the longer you save, the more interest you'll get. Insurance Premium Financing reference rate of 3.40% (USD) and 2.30% (SGD) as at 15 January 2019. You might be wondering that the interest rates are kind of low right now! Maintain an average balance of S$500 and RHB will waive the S$10 monthly minimum balance fee. 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