Saving money has never been easier. You can now enjoy saving and indulge at the same time.

Features

  • Attractive base rate of up to 0.20% p.a. on account balance
  • Further bonus rate of up to 1.70% p.a. on saving through monthly GIRO transfers
  • No fall below fee

Details

  • Initial deposit from S$100
  • Saving through monthly GIRO transfer of between S$200 and S$8,000
  • Up to 0.20% p.a. base interest on account balance of between S$500 and S$2,000,000
  • Up to 1.70% p.a. bonus interest on saving through monthly GIRO transfers
  • Bonus interest is credited on the corresponding GIRO deduction date in January and July
  • One account per customer

Eligibility

  • 21 years old and above
  • Singaporeans, Singapore PRs and Foreigners (with valid work permit)

Documents Required

  • Bank account details for GIRO transfer
  • NRIC (Singaporeans and Singapore PRs)
  • Passport and Work Permit (Foreigners*)
    • * Either one of the documents below for proof of local address:
      • Utility Bill or
      • Telephone Bill or
      • Bank / Credit Card Statements or
      • Rental Agreement

An insured deposit under the Deposit Insurance Scheme.

How it works

Step 1

Visit the branch to open a
Fixed Savings Account with a
minimum initial deposit of S$100 and
sign-up for monthly GIRO transfer of
at least S$200 at the same time.

Step 2

Receive base
interest on account
balance at month-end.

Step 3

Receive bonus interest
in January and July for
the monthly GIRO transfers
made during the prior
6 months' period respectively
(provided the GIRO transfers
are not withdrawn).

Interest Rates

Amount in Account (S$)

Base Interest (p.a.)

  • 500 to <50,000

    0.15%

  • 50,000 to 2,000,000

    0.20%

+

Monthly Transfer
via GIRO (S$)

Bonus Interest (p.a.)

  • 200 to <1,000

    1.50%

  • 1,000 to <5,000

    1.60%

  • 5,000 to 8,000

    1.70%

  • Base interest is calculated based on account balance x base interest rate / 365 days x the number of days in the month.
  • Bonus Interest is calculated based on each monthly GIRO amount transfer received x Bonus interest rate / 12 months x the number of months to run before bonus interest payment.
  • Rates are indicative and subject to change at any time without prior notice.
  • Terms and conditions apply.

Illustration

    Assumptions:
  • Fixed Savings Account is set-up in November with an initial deposit placed.
  • Monthly GIRO transfer commences in January the next year and
  • The transfer takes place on the first of every month.

Scenario A – Initial Deposits of S$100 with Monthly GIRO Transfer of S$200

Period Base Interest
(S$)
Bonus Interest
(S$)
Jan - Jun 0.56 5.25
Jul - Dec 1.53 5.25
Jan - Dec 2.09 10.50
Total Interest (S$) 12.59

 

Scenario B – Initial Deposits of S$500 with Monthly GIRO Transfer of S$1,000

Period Base Interest
(S$)
Bonus Interest
(S$)
Jan - Jun 3.04 28.00
Jul - Dec 7.59 28.00
Jan - Dec 10.63 56.00
Total Interest (S$) 66.63

 

Scenario C – Initial Deposits of S$500 with Monthly GIRO Transfer of S$5,000

Period Base Interest
(S$)
Bonus Interest
(S$)
Jan - Jun 13.48 148.75
Jul - Dec 43.42 148.75
Jan - Dec 56.90 297.50
Total Interest (S$) 354.40

Note:

  • Above illustrations are indicative only and rates are subject to change at any time without prior notice. Currency is in Singapore Dollars.

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