Best bank to save money

[troysg]

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]

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]

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

Originally Posted by troysg

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.

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

sorry, it is 0.8% p.a now

Originally Posted by Unregistered

sorry, it is 0.8% p.a now

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

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]

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.

Originally Posted by lizzy0302

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.

You mean JPMorgan? It doesn't take retail deposits in Simgapore.