Salary.sg Forums

Salary.sg Forums (https://forums.salary.sg/)
-   Investments and Net Worth (https://forums.salary.sg/investments-net-worth/)
-   -   Best bank to save money (https://forums.salary.sg/investments-net-worth/1542-best-bank-save-money.html)

troysg 03-10-2011 04:54 PM

Best bank to save money
 
Hi all,

I was wondering which banks provide the best savings plan and what type of account I should open. I'm not a high earner therefore I wish to save at least $200/month for a least 6 months and followed by at least $500/month continously. I was wondering what type of account should I open for better interest and which bank.

I would like to thank those for their sincere replies. Thank you:)

Hermit 18-10-2011 12:48 PM

Any local bank will do. I do not think there is much difference. Just decline the ATM card so that your savings remain saved. : )

tangoraven 08-12-2011 01:48 PM

hi op, you can try the ocbc msa 123 account if you can committ to a regular saving amount and for several years (3 earns you 1% interest).

OCBC Monthly Savings Account

i'm using dbs mysavings for my regular savings amount which has .25% interest but i'm thinking of swapping to ocbc but very ley chey...

MySavings Account ? Product Benefits, Best Savings Deposit | POSB Singapore

WiredJustice 08-12-2011 03:07 PM

Quote:

Originally Posted by troysg (Post 16878)
Hi all,

I was wondering which banks provide the best savings plan and what type of account I should open. I'm not a high earner therefore I wish to save at least $200/month for a least 6 months and followed by at least $500/month continously. I was wondering what type of account should I open for better interest and which bank.

I would like to thank those for their sincere replies. Thank you:)

No offense intended, but I think based on the amounts you have quoted, it makes more sense to go with a bank with branches and atms near your home and office than go about scouting for interest rate deals.

Any difference is likely to be very small at <0.2% for similar account comparison and that hardly justifies incuring inconvienience for the additional interest. Banking in your scenario should be more about accessibility and relevance of banking facilities rather than pittance rate differences.

Unregistered 13-12-2011 01:54 PM

CIMB star saver. put in 5k first then make sure every month increase by $500. interest is 0.9%. can withdraw anytime. apply their internet banking or use their free cheque book to get funds out when u need it

Unregistered 13-12-2011 01:55 PM

sorry, it is 0.8% p.a now

Unregistered 13-12-2011 02:40 PM

Quote:

Originally Posted by Unregistered (Post 18822)
sorry, it is 0.8% p.a now

Still the best in town. Let me open an account now.

Jimmy1978 22-03-2012 04:18 PM

How's the saving coming along? I was looking online the other day and I notice that DBS has a autosave feature for one of their savings account. Every month you choose a amount to be deducted from your salary and put into your savings account. So you don't have to keep thinking about how much you need to put aside, it's done automatically for you.

Unregistered 07-05-2012 03:53 PM

the best savings account to save money in is the CPF!!! Forced deduction every month on pay day whether you like it or not... Backed by stable goverment, 100% capital gauranteed with decent interest rates..... the only problem is that it is a fixed deposit for life... Can put in but cannot use for anything much other than buying your HDB....

lizzy0302 18-05-2012 06:54 AM

There are lots of banks where you can save your money but do a background check first before depositing your money. Some banks are into announcing bankruptcy also but they're just hiding it.


All times are GMT +8. The time now is 01:32 PM.

Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2