Bank savings account

• browniebaobao

  1 Oct 07, 23:57

  Originally posted by motoway:

  fixed depo which bank better? Investment plans leh?
  
  Last time i checked OCBC got a plan, $230 every month for 12 years.
  at the end of it all, u get 39k back. when the amt u invest close to 33k over the yrs.
  So lauya one.
  
  My fren told me prudential invest 100 per mth end of every yr get 500 bucks and 25 yrs later gif u 50k. Tio boh? Soo good meh?

  that time got one prudential agent trying to sound me out, wanted to know how much savings i have.
  
  he spent abt 20-30 mins psychoing me to sign up for that plan, but i declined.
• alwaysdisturbed

  2 Oct 07, 00:06

  Originally posted by huiz:

  i am thinking of opening the citibank step-up interest account for my savings...one yr to reach 2% interest.

  source?
• Darkness_hacker99

  2 Oct 07, 08:46

  Originally posted by alwaysdisturbed:

  source?

  http://www.citibank.com.sg/APPS/portal/loadPage.do?tabId=home&path=/prod/det/cb_stepup_newcust.htm
• Darkness_hacker99

  2 Oct 07, 08:47

  Originally posted by jondizzle foshizzle:

  As long as you live in Singapore you should forget about earning interest

  yes.
• de_middle

  2 Oct 07, 08:59

  Originally posted by Rockhound:

  the problem is the ATM card...
  
  well..i earn 1.5k a month...so i brainstormed an idea to tranfer 500 each month to another bank...so i will onli spend 1 k a month...the 500 is solely for rainy day and preparation for marriage and such...

  good plan....u can always decline the atm card if u dun need it....but for ease of transferring money...u might need the card
• huiz

  2 Oct 07, 10:46

  actually if you dont have an atm card for that savings account you are opening, when you need to withdraw money for emergency use, it will be quite inconvenient.
  
  if the bank gives you an atm card, you can just take it and lock it up at home so that you wouldnt be able to withdraw money from that account so easily. it all boils down to discipline not to spend the money inside.
• Rockhound

  2 Oct 07, 10:53

  Originally posted by huiz:

  actually if you dont have an atm card for that savings account you are opening, when you need to withdraw money for emergency use, it will be quite inconvenient.
  
  if the bank gives you an atm card, you can just take it and lock it up at home so that you wouldnt be able to withdraw money from that account so easily. it all boils down to discipline not to spend the money inside.

  standard chartered can wire the money to the posb account rite?
• huiz

  2 Oct 07, 11:27

  Originally posted by Rockhound:

  standard chartered can wire the money to the posb account rite?

  can.
  
• eagle

  2 Oct 07, 11:27

  Put in CPF
• AsTr0GiRL

  2 Oct 07, 11:37

  U can open a POSB MSA. If ur intention is to save $500 per month, this should be the account I guess. It's a monthly contribution account, means every month it'll auto deduct the $500 from ur account. Interest rate will be at 1%p.a. U can increase or decrease ur monthly contribution amount when u get any pay increment or pay cut at any period also. It's flexible, u can withdraw money from this account anytime but withdrawal can only be done over the counter. So unless u need the money really badly, I don't think u'll wanna join the long queue at the branch. U can put in any excess money, eg bonus, hongbaos... into this account at any time to enjoy the 1% interest instead of the norm 0.25%. Juz top-up via internet, fund transfer via atm or cash deposit thru the CAM or counter. But anytime that u do a withdrawal from this account, ur interest will be reduced to 0.45%p.a. for that particular month. U can close off this account anytime u wan, or the bank will close off this account if there's any 3 unsuccessful deduction from ur savings account. So overall, it's flexible, convenient and it helps u to save. Can view this account's balances thru internet banking but juz cannot transfer out only.
• tutu2

  2 Oct 07, 17:50

  Originally posted by Darkness_hacker99:

  Nowadays the interest for normal saving a/c are dirt low.
  
  Unless you are talking about fixed monthly saving.. The interest rate is abit highly nia.. Not enough for one kopi..

  heard standard chartered has one which offer 1.5% to 2% interest..but no atm card, passbook, purely internet banking..called eSaver
  http://www.standardchartered.com.sg/cb/deposit/dep_esaver_ac.html
• smartboy4

  2 Oct 07, 18:00

  citibank got savings account like posb type? i cannot find any link leh.
• TheGoodEarth

  2 Oct 07, 18:09

  Originally posted by Rockhound:

  Which bank offer good rates?
  
  wanna open another account solely to put in money...
  
  my POSB account...freaky...once got money....sure spend one...
  
  idea is to open an account in another bank and not apply for an atm card

  hey, you should post this question to some of the annuity protesters - cause they all have great investment ideas and how to maximise returns to your savings outside CPF.