POSB MySavings Account Interest Rate Dropped

POSB MySavings Account Interest Rate Dropped by almost half from the previous rate.

The interest previously:

Monthly Savings Amount

Interest Rate

$50 – $290

0.4500

$300 – $790

1.0000

$800 – $1,490

1.2000

$1,500 – $3,000

1.5000

The interest now:

Monthly Savings Amount

Interest Rate

$50 – $290

0.4000

$300 – $790

0.4000

$800 – $1,490

0.5000

$1,500 – $3,000

0.6000

After the latest change in interest rate for POSB MySavings Account, OCBC’s Monthly Savings Account seems to be a better choice since they offer interest rate of 0.88% p.a. or 1.18% p.a for amount $50-$790 and $800-$5000 respectively.

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