Explore Several of Singapore’s Top Deposit Accounts

Searching for a reliable strategy to increase your savings and generate great returns with high interest rates? The finest savings and investment account can be difficult to identify in the Lion City because there are so many options for the best deposit account Singapore has to offer and cash management and investing for the short term.

Some of them from POSB are as follows:

• My Account

 No fees for services

Up to thirteen currencies can be exchanged and stored.

Take advantage of free FX conversion expenses and rapid access to a variety of currencies.

• Multiplier

If you are younger than 29 or this is your initial account (online application), there is no service charge.

Up to thirteen currencies can be exchanged and stored.

Get interest of up to 4.10% every year. 

• My Savings Account

No set tenor is necessary.

Get interest of up to 0.25% every year.

• SAYE Account

 When you credit your salary, you can receive up to 3.50% p.a. in cash gift interest on your monthly savings. 

• My Account with Child

Up to thirteen currencies can be exchanged and stored.

Take advantage of free FX conversion expenses and rapid access to a variety of currencies.

• Fixed Deposit

Many different types of fixed deposit tenors

Deposits starting at just S$1,000

• Child Development Account

With your POSB Baby Bonus NETS Card, take advantage of discounts and benefits for the whole family at a variety of retailers.

Earn interest at a rate of up to 2.00% per annum on sums under $50,000.

• Payroll Account

No expenses associated with foreign exchange conversion

Send money for free (S$0).

Why POSB Multiplier Is the Best Savings Account?

DBS has broadened its coverage of insurance and investment categories to offer additional methods to stack your interest, rewarding you for each stage of your financial planning since it understands that every person has different goals and objectives. Additionally, they have added the option to connect to SGFinDex on DBS Planning as a category for clients who are unable or do not want to credit their dividends or salaries with DBS.

Learn more about Multiplier’s revolutionary features and how it sets itself apart from the savings account pack by reading on.

#1 You are not required to draw income.

When you deposit your monthly pay into your savings account, you will typically receive greater interest rates.

By linking SGFinDex on DBS NAV Planner, you can now use DBS Multiplier as an alternative to crediting your dividends or pay. As a key component of financial planning, it is the first bank to offer benefits for integrating with SGFinDex, which provides you with a comprehensive picture of your finances by combining your data from banks, CPF, HDB, and IRAS.

#2 Incentives for comprehensive financial planning

There is more to financial planning than simply building up enough emergency savings and then calling it a day. Taking care of every aspect of your daily existence and organizing your finances is your personal duty; Multiplier is here to help you get paid for it.

In order to establish a sound financial plan for oneself, a multiplier makes it incredibly simple for everyone to gradually transition into investments and insurance. When it concerns financial planning, everyone has various wants and preferences, which is why DBS has added more options to their categories. You may develop your financial plans and benefit from greater interest rates with DBS Multiplier by having more freedom to select products that suit your needs.

In addition to digiPortfolio, you can now maximize your Supplementary Retirement Scheme (SRS) and CPF money and cash savings. To make your retirement assets work harder, you could put them in DBS’s unit trust funds.

#3 To benefit from increased interest rates, mix and match deals.

To get the highest interest rate, there is no need to jump through several hoops. These transactions may already be a part of your daily routine; for example, you may have been using a DBS credit card to pay your bills or financing your house loans through DBS. You can combine these transactions to earn more interest.

Just log in to SGFinDex on DBS NAV Planner (excellent news for those without income or dividends) or credit your income and dividends, then make purchases with DBS for credit card purchases, house loan instalments, insurance, or investments totalling at least S$2,000.