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There are lots of banks in Singapore offering savings account of different interest rates. The interest given out by some of the banks have fallen by quite a bit. As a large part of my savings are deposited in savings account, I like shift my savings if there is a better deal on the market. [...]

Image via Wikipedia Standard Chartered reduced eSaver Savings Account interest rate yet again! Effective 1 Jan 2011, the interest rate for eSaver Account is 0.15% p.a. That is 0.05% difference from the previous 0.2% p.a. interest. Throughout the years, eSaver have went through a few rounds of interest rate deduction and this is the new [...]

Citibank is going to reduce the interest rate for the step-up account again. From my march 2010 electronic statement: Effective 1 May 2010, the interest rates for SGD Step-Up Interest Accounts and Tap and Save Accounts will be revised to: Base Interest 0.14% p.a Bonus Interest per Step-Up Counter 0.03% p.a (Maximum Step-Up Counter = [...]

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 – [...]

If you are still having the bulk of your savings in normal savings account like POSB whose bank interest rate is 0.25%p.a., you might want to reconsider again. You might want to consider moving some of your savings to banks that offers high interest rate. One such bank is FairPrice Plus, currently offering 1%p.a. interest [...]