Friday, August 28, 2009

Regular update of bank deposit rates

A FISCA volunteer updates the bank interest rate on a regular basis. The latest update is shown here. I hope that you find it useful.


Anonymous said...

Thanks a lot for this FISCA volunteer. At this period of time where there would be a threat of inflationary pressure, the only safe place to park our excess money is F.D on a short term basis at the highest deposit rate.

YZ said...

Thanks KL. Would like to point out the e-Saver interest rate for balance <$50k is 0.3% (effective 20 Jul 2009), not 0.4%.

Anonymous said...


Vincent Teo said...

Just to share this Trio Account (Current Account) from RHB Bank.

Deposit up to $5k is 0.68%, above $5K is 0.73% etc. Free and unlimited cheques and no monthly management fee. The catch is must maintain a daily balance of $2k.(Pls refer to RHB Bank website for further details).

For Maybank, senior citizens are offered 0.25% above the board rate for deposits more than $25k and tenor of at least 1 year.

Anonymous said...

Why banks only offer 2 years fixed deposit? Why not offer fixed deposit for 2.5 years (30 months) or even better 3 years?

I have been waiting for a 3 year fixed deposit.

Egg-timer said...

Two points for bank consumers to take note.

1. Maybank data may be in error. For 1M & 3M TD, the lower tier deposits are getting better returns which seems illogical.
2. Avoid DBS Bank at all cost. I don't even want to look at their rates. Never been competitive in my life-time. The other one I avoid is HSBC Bank. These are my experiences so far.

Student said...

Great piece of work.

I will like to recommend two things:
1. if the rate 0.1 actually means 0.1% = 0.001, it will be useful to indicate the unit somewhere.
2. have a note indicating if the rates listed are annualised (p.a.) or for the duration indicated?

AB said...

Currently there are two banks with much better interest rates

1. RHB bank Trio account as already mentioned by Vincent above, which is already higher than all the other banks given in the article

2. CIMB bank Starsaver account gives 1.2% interest, which is even better than RHB.

YZ said...

Thanks AB. The info on CIMB Starsaver is great!

The error of Stanchart e-Saver's interest rate is not yet corrected.

FiSCA Volunteer said...

1. The Stanchart e-Saver's interest rate was updated on 30th Aug. Please refer to the tab "28 Aug 2009" for the updates.

2. For CIMB StarSaver Account, it is not the normal savings deposits. It is an annuity savings. For this savings, the account holder needs to put money aside EACH month.

E.g., the account holder needs to put in month-end INCREMENTAL deposit of:-
(a) $500 or more - to enjoy Interest Rate of 1.2% p.a.
(b) Less than $500 - to enjoy Interest Rate of 0.5% p.a.

Note that the two key words are "monthly" and "incremental" --> for the account holder to enjoy the stipulated interest rate.

Thank you.

AB said...

For CIMB StarSaver account, it is optional whether you put in incrementally every month or put in a lump sum one time, interest is still calculated based on the total balance.

It is also a current account with free cheque book facility, with the interest rate almost like a fixed deposit, but has the flexibility to withdraw any time as like a savings account.

Anyway for full details the depositor should enquire directly with the bank.

Anonymous said...

all correct except i found somethings a difference with UOB, I thought is 0.125%, well maybe i thought wrong, or maybe i got lesser than 5k, thats why.. :), take care and thanks. U are wicked!

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