Actions Brings Results & Results Builds Confidence!

As stated in my previous post: High Interest Rate Savings Account, the interest rates of the better savings account of Maybank and Citibank are as below 1) Citibank Stepup Account Base interest – 0.16%p.a. Step-Up to 1%p.a.over 12 months 2) Maybank iSAVvy Savings Account 0.50%/0.75% + 6% IOI — iSAVvy savings (min $5k/$50k) Daily balance below S$5,000 (0.25% [...]

Current Stanchart eSaver Interest Rates is listed as below: 0.40%/0.50% — e$aver (min $0/$50k) Daily balance below S$50,000 (0.40 % p.a.) Daily balance of S$50,000 to S$199,999 (0.50 % p.a.) Daily balance of S$200,000 & above (0.68 % p.a.) You might want to consider FairPrice Plus Savings Account as it offers better interest rate of 0.50 [...]

The base interest of Citibank Step-Up Account starts from 0.16% p.a. If your minimum monthly balance is higher than the previous month’s minimum balance, the interest will step up automatically. The step up interest is 0.07% p.a. The interest rate steps up (adds up) each month to a maximum of 1.0% p.a. over a 12-month [...]

This simple video shows how compounding interest can make your money grow over time. It is always a good habit to save a percentage of your monthly pay regularly automatically. One way to force yourself to save money is by having 2 savings account (eg. Citibank’s Stepup Account & FairPrice Plus Savings Account). You deposit your monthly paycheck [...]

Finally FairPrice Plus is going to drop the interest rate for their Savings Account Interest. From their website, it states: Wef 1st Mar 09, the new FairPrice Price interest rates will function as:  First S$50,000  0.5% p.a.  From S$50,001 to S$500,000  1.0% p.a. (limited to maximum deposit of S$500,000) Scenario 1: If customer has S$60,000, [...]