The banks did it again. In just a few months, several popular savings accounts had their interest rates cut multiple times. For example, Standard Chartered’s Jumpstart account, an account which I have been using since late 2019 had its interest rate cut twice from 2% to 0.4% in months. OCBC 360, OCBC’s flagship savings account…
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Best Savings Products in Singapore (January 2021)
Banks have been reducing interest rates for savings account in hopes of saving its own NIM. Recently, several savings products popped up to meet the needs of high yield savers. In this article, we will discuss the feasibility in using such products as an alternative to your usual savings account.