Category: Finance

Standard Chartered eSaver Account is now offering Bonus Interest Rate of up to 1.88%p.a. on your Top-Up amount.

The offer last till 31 December 2008.

Balance	Interest Rate	+	Bonus Rate	=	Special Rate
Less than $50,000	0.50%p.a.		0.50%p.a.		1.00%p.a.
$50,000 to $199,999	0.88%p.a.		0.30%p.a.		1.18%p.a.
$200,000 to $499,999	1.00%p.a.		0.30%p.a.		1.30%p.a.
$500,000 to $999,999	1.00%p.a.		0.68%p.a.		1.68%p.a.
$1 million & above	1.00%p.a.		0.88%p.a.		1.88%p.a.

 

I guess most of the people falls in the less than $50,000 category and could only get 1.00%p.a. interest rate on the top-up amount.

If your balance is less than $50,000, I guess it is a better deal to put your money in FairPrice Plus Savings Account as they offers 1.00%p.a. interest rate from the very first dollar.

To transfer money to Fairprice Plus Savings Account through Internet Banking:

OCBC’s Bank Code = 7339

OCBC’s Branch Code (3 digits) = 583 or 587

Account Number = 123456001 (eg. 587-123456-001 -> omit the first 3 digits and dashes)

Finally my FairPrice Plus Savings Account is ready!

The whole application process took about 2 weeks after mailing in my application form. I regret not applying for this high interest rate savings account earlier. If I didn’t remember wrongly, they offered even better interest rates when they just launched the product.

FairPrice Plus Savings Account currently offers 1% p.a. interest rate which is higher than most savings account.

With a few banks cutting down the interest rates for their “used-to-be” high interest rate savings account in the past months, I hope FairPrice Plus stays at this interest rate for a longer period of time.

If you didn’t have this savings account yet, why wait! Take advantage of the high interest rate now before it drops!

If anyone knows of any better bank account to put money in, please do let me know. Thanks in advance.