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Thread: Which bank offers the highest interest % on deposits?

  1. #1

    Default Which bank offers the highest interest % on deposits?

    Just curious, which bank offers the best interest rates on deposits? AFAIK, its either Maybank's iSavvy account or Standard Chartered's e$avers account (around 2.38% p.a.). Anything better out there? For amounts ranging from $10,000 to $50,000. Thx in advance

  2. #2

    Default Re: Which bank offers the highest interest % on deposits?

    You're talking about savings account or fixed deposit?
    I think F.D. can get higher than e$avers - that's a internet based savings account.

    Savings account tend to have lower interest rates because you can just draw out any time.

    Though e$avers is a pretty good choice compared to plain ol' POSB (~.125% last year, ROFL)

  3. #3

    Default Re: Which bank offers the highest interest % on deposits?

    do a search on singapura finance

  4. #4

    Default Re: Which bank offers the highest interest % on deposits?

    Quote Originally Posted by night86mare
    You're talking about savings account or fixed deposit?
    I think F.D. can get higher than e$avers - that's a internet based savings account.

    Savings account tend to have lower interest rates because you can just draw out any time.

    Though e$avers is a pretty good choice compared to plain ol' POSB (~.125% last year, ROFL)
    Actually, most of the fixed (timed) deposits interest rates I've seen are in the 0.8% p.a. range, way below the eSavers/iSavvy rates of 2+%

  5. #5

    Default Re: Which bank offers the highest interest % on deposits?

    Quote Originally Posted by simon80
    do a search on singapura finance
    Their fixed deposits for $25k and below is 2.25%, still below 2.38% of Maybank's iSavvy account, unless you're talking about 24 months or more, or more than $50,000. Not bad... but the other two allows you to withdraw at any time without losing your interest

  6. #6
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    Default Re: Which bank offers the highest interest % on deposits?

    Are you talking about fixed term deposits or instant access account ? For instant access accounts, haven't seen anything better than the maybank iSavy or the SC e$aver. For fixed deposits, the best I've seen for S$ is HSBC's 3.6% (if you have an HSBC Infinity account)

  7. #7
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    Default Re: Which bank offers the highest interest % on deposits?

    There is a promotion from OCBC now, fixed deposit 10months >$200k rate is 3.388%, $40k-$200k I think is 3.288%...

  8. #8

    Default Re: Which bank offers the highest interest % on deposits?

    Quote Originally Posted by Astin
    There is a promotion from OCBC now, fixed deposit 10months >$200k rate is 3.388%, $40k-$200k I think is 3.288%...
    Thanks Astin and Gooseberry... but I don't have that kind of money to put in

  9. #9

    Default Re: Which bank offers the highest interest % on deposits?

    Quote Originally Posted by Gymrat76
    Actually, most of the fixed (timed) deposits interest rates I've seen are in the 0.8% p.a. range, way below the eSavers/iSavvy rates of 2+%
    Eh, that's weird, most that I saw were at least 2+% lor.
    Better ones 3+, especially when with big banks.
    HSBC just had promo that ended 31 Aug 06, as stipulated earlier. =)

    Just check all of the FD online with big banks, should have no trouble getting 3+ somewhere if you do your homework.

  10. #10

    Default Re: Which bank offers the highest interest % on deposits?

    for FD is there an admin charges?


    coz there was a promoter from hsbc introducing me to a plan where u put in $ every month, the interest rate was 4% or 5% pa. but as there is a admin charge, after 10 years i only earn 10+% of what i put in total, (not taking anything out, even keeping the yearly interest in the bank) that brings the pa to something like 1+% or 2+%

  11. #11

    Default Re: Which bank offers the highest interest % on deposits?

    what does PLUS 6%** interest-on-interest means? does it mean if i keep the $ with them for 6 months i get 8.38/2%?

    also does anyone knows if i can TT the money from maybank to UOB or DBS?

  12. #12

    Default Re: Which bank offers the highest interest % on deposits?

    Quote Originally Posted by quekky
    what does PLUS 6%** interest-on-interest means? does it mean if i keep the $ with them for 6 months i get 8.38/2%?

    also does anyone knows if i can TT the money from maybank to UOB or DBS?
    it means you get extra 6% on the interest you got for the past 6 months... example you have earn a total of $100 in interest for 6 months, you get extra $6 on the 6th month

    yes you can electronically transfer money back to your other bank account. Take 2 working days to go through.

  13. #13

    Default Re: Which bank offers the highest interest % on deposits?

    Not sure if they still have it, but Citibank offers 3% for amounts between $30k - $50k. More than that is 3.288% I think.

    And it's unfixed somemore.

  14. #14

    Default Re: Which bank offers the highest interest % on deposits?

    Quote Originally Posted by quekky
    for FD is there an admin charges?
    No I don't think so, but just read the fine print everytime just in case. =D

  15. #15
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    Default Re: Which bank offers the highest interest % on deposits?

    Some banks tries to sell u those investment-link products as fixed-deposit products, pls watch out, they are actually totally different!

  16. #16

    Default Re: Which bank offers the highest interest % on deposits?

    Quote Originally Posted by Astin
    Some banks tries to sell u those investment-link products as fixed-deposit products, pls watch out, they are actually totally different!
    yup, some structured deposit which are investment linked are sold as fixed deposit. Either customer are mislead, or they do not fully understand the products.

  17. #17

    Default Re: Which bank offers the highest interest % on deposits?

    Quote Originally Posted by Astin
    Some banks tries to sell u those investment-link products as fixed-deposit products, pls watch out, they are actually totally different!
    ah, thanks. i guess it could be investment as there is quite high admin charges

  18. #18
    Senior Member Big Kahuna's Avatar
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    Default Re: Which bank offers the highest interest % on deposits?

    Ask dr.Money

    http://askdrmoney.com/Deposit_accounts_Details1.htm

    But I am not sure how updated is this

  19. #19

    Smile Re: Which bank offers the highest interest % on deposits?

    fd rates are at least 3% pa.

    Quote Originally Posted by Gymrat76
    Actually, most of the fixed (timed) deposits interest rates I've seen are in the 0.8% p.a. range, way below the eSavers/iSavvy rates of 2+%

  20. #20

    Smile Re: Which bank offers the highest interest % on deposits?

    for pure fd, no charges at all.

    Quote Originally Posted by quekky
    for FD is there an admin charges?


    coz there was a promoter from hsbc introducing me to a plan where u put in $ every month, the interest rate was 4% or 5% pa. but as there is a admin charge, after 10 years i only earn 10+% of what i put in total, (not taking anything out, even keeping the yearly interest in the bank) that brings the pa to something like 1+% or 2+%

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