Monday, December 1, 2008

High Interest Rate Saving Deposit

I have been looking around for higher interest rate saving account but only manage to find out that the most interest rate pay out annually on saving account is by Standard Chartered Bank.

I have opened up Esaver few years back started with interest rate of 1.88 but now its have drop to 0.50 with bonus of 0.5% on top up amount. The great thing about this account is that it does not required a minimum amount of deposit. The con of this account is that its all about electronics, if you want to withdraw money with no fee charged then you have to interbank transfer as this account does not provide you with ATM card. Alternatively, you can withdraw at the bank branches but there will be admin fee charged. Refer to the bank for more accurate update.

Another high interest rate saving account will be Foreign Currency Saving Account. If you want to earn interest of around 4%, then you can open up the Aussie Dollar Saving Account with Singapore Dollar. This is not the most interest rate pay out currency. New Zealand Dollar will fetch you around 6%. Call the bank up and ask more for more detail as the interest rate is always changing due to economic situation.

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