Tips on selecting a high-interest savings account tailored to your income and savings goals in Singapore.
Choosing a bank isn’t just about convenience—it’s about growing your savings. Some banks offer tiered interest based on activities like salary crediting or credit card spending.
The OCBC 360 offers up to 4.65% p.a. interest with multiple conditions met. Standard Chartered Bonus$aver rewards spending and salary credit. CIMB FastSaver is ideal for those who want high interest without extra requirements.
It’s important to understand your monthly financial behavior before selecting. Do you credit your salary? Use credit cards? The more boxes you check, the more you earn.
FAQ:
Q: Is it better to use digital-only banks for savings?
A: They offer competitive rates, but lack branch access.
Q: Can I open multiple savings accounts?
A: Yes, but ensure you meet the minimum balances to avoid fees.
User Comments:
- “OCBC 360 gave me better returns than any fixed deposit.”
- “I park my emergency funds in CIMB FastSaver.”
Editor's Note:
The best account is one that fits your financial habits—know yourself before you commit.
Tags: personal savings, interest rates, OCBC 360, CIMB FastSaver, banking tips