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How To Grow Money Faster In Banks

Tired of meagre interest rates? Check out these enhanced regular savings plans.

By Kelvin Low      28 January 2020

Bonus$aver Account

0.1-3.88% p.a. Interest
Standard Chartered Bank (Singapore) Limited
www.sc.com/sg

Standard Chartered offers up up to 3.88% per annum on the first S$100,000 in the Bonus$aver account by crediting salary and paying bills through GIRO, spending with Bonus$aver credit or debit card, investing with a Unit Trust or insuring with a regular premium insurance policy.


BOC SmartSaver

0.80-3.55% p.a. Interest
Income credit via GIRO, minimum S$2,000
Bank Of China (BOC)
www.bankofchina.com/sg

BOC SmartSaver is a savings plan for BOC Multi-Currency Savings (MCS) account holders to earn bonus interests on top of the prevailing interests. Earn up to 3.55% p.a. on the first S$60,000 by using the account for: Card spending, salary crediting and bill payments via GIRO or BOC Internet Banking.


Maybank Save Up Programme

0.1875-3% p.a. Interest
Minimum S$500 deposit
Maybank Singapore Limited
www.maybank2u.com.sg

Maybank’s programme offers a higher interest rate for users who sign up for other services such as loans, insurance and investments. Maybank’s offering stands out as it requires one type of GIRO transaction: Salary credit or bill payment, to qualify for the bonus interest rates.


CIMB FastSaver account

1-1.8% p.a. Interest
Minimum S$1,000 deposit
CIMB Bank
www.cimbbank.com.sg

CIMB’s plan offers 1.00% p.a. for the first S$50,000 balance; 1.50% p.a. for balances above S$50,000 to S$75,000 and 1.80% p.a. for balances above S$75,000 to S$100,000. No other terms and conditions required.


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