$mart $avings
Are you someone (like me) who leaves the funds in a bank, and ignores it for many donkey years, and don't even care what is the interest rate you are given annually?
Good Gracious Me, how ignorant! I meant myself.
I bet, likeevery many singaporeans, I have a POSB savings account, and since young, I have been using it, day in day out. It then became my main savings and spending account. But guys, there are better way to manage it!
I chanced upon this new account from OCBC, and I think u shld be inform too.
Smart Savings, open the account with a fresh new funds of $2k, and the interest rate will be o.4% p.a for the first $20k, after which, the interest rate increases to 0.75% for $20k to $250k. That's an encouragement to save isn't it?
Now, whether u save up to $20k in this account or not, really doesn't matter that much, bcos if u compare this to a regular savings account to that of a POSB, it does makes a difference (in case u havent noe, the regular savings account usually only offers an interest rate of 0.25%).
You then need to maintain at least $1k monthly to avoid a $2 deduction of service fees for OCBC Smart Savings. Open account with either single name, or joint name.
On top of that, if you are looking for a Fixed Deposit/Time Deposit, there is a good promotion for OCBC smart savers now. Lock in the funds for min of 13mths, and the interest is 1.06%, while I can't rem how much is the minium, but it shld be $10k. For comparison's sake, other banks (without promotion) only offers 0.55% for 12mths. The next better one is Maybank, who is offering 0.98% for 12 mths.
If u sign up for the FD/TD from OCBC as a woman (single-name), u also get a free elizabeth arden (30ml), True Love perfume.
So, bye bye POSB. Hello OCBC. =)
Good Gracious Me, how ignorant! I meant myself.
I bet, like
I chanced upon this new account from OCBC, and I think u shld be inform too.
Smart Savings, open the account with a fresh new funds of $2k, and the interest rate will be o.4% p.a for the first $20k, after which, the interest rate increases to 0.75% for $20k to $250k. That's an encouragement to save isn't it?
Now, whether u save up to $20k in this account or not, really doesn't matter that much, bcos if u compare this to a regular savings account to that of a POSB, it does makes a difference (in case u havent noe, the regular savings account usually only offers an interest rate of 0.25%).
You then need to maintain at least $1k monthly to avoid a $2 deduction of service fees for OCBC Smart Savings. Open account with either single name, or joint name.
On top of that, if you are looking for a Fixed Deposit/Time Deposit, there is a good promotion for OCBC smart savers now. Lock in the funds for min of 13mths, and the interest is 1.06%, while I can't rem how much is the minium, but it shld be $10k. For comparison's sake, other banks (without promotion) only offers 0.55% for 12mths. The next better one is Maybank, who is offering 0.98% for 12 mths.
If u sign up for the FD/TD from OCBC as a woman (single-name), u also get a free elizabeth arden (30ml), True Love perfume.
So, bye bye POSB. Hello OCBC. =)
Labels: comparison, fd/td, promotion, smart savings
