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16 posts
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Hi SGF!
I do not know a suitable forum to post this question to . so....
Bank savings interest rate is extremely low nowadays.
Which bank, local or foreign, offers the highest savings interest rate?
I like to know and start withdrawing almost all of my savings from one bank to another. I believe that if a bank offers lower interest rate, money should not be put there and money should be withdrawn and dumped into other banks offering higher interest rate.
If everyone do what I do, banks will become more competitive.
I just hope they all dun karkat together....aiyo, I just kidding nia. Doon wanna get into trouble with rich people who could afford expensive lawyers.
I am thinking of Citibank. Any advice?
Edited by balance_else_complacent 16 Jul `08, 11:19AM
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Originally posted by balance_else_complacent:
Hi SGF!
I do not know a suitable forum to post this question to . so....
Bank savings interest rate is extremely low nowadays.
Which bank, local or foreign, offers the highest savings interest rate?
I like to know and start withdrawing almost all of my savings from one bank to another. I believe that if a bank offers lower interest rate, money should not be put there and money should be withdrawn and dumped into other banks offering higher interest rate.
If everyone do what I do, banks will become more competitive.
I just hope they all dun karkat together....aiyo, I just kidding nia. Doon wanna get into trouble with rich people who could afford expensive lawyers.
I am thinking of Citibank. Any advice?
Carp diem is erm... kindda right about that. For savings account, most banks offer the same interest rates. They probably differ by + or - 0.01. Unless you're talking about a huge sum, it wouldn't be making that much of a difference. If it's a huge sum, I think you can explore citibank's step up interest account. But then again if it is enough for you to consider interest rates, might as well invest in mutual funds and bonds instead?
You also might want to consider the services these banks offer. Citibank is a convenient choice but I really don't think much of their service standards. Internet banking interface is a pain, they take a long time to process application and everything else. I prefer UOB and standard chartered to citibank and DBS.
Edited by methanol 31 Aug `08, 2:34AM
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Originally posted by methanol:
Carp diem is erm... kindda right about that. For savings account, most banks offer the same interest rates. They probably differ by + or - 0.01. Unless you're talking about a huge sum, it wouldn't be making that much of a difference. If it's a huge sum, I think you can explore citibank's step up interest account. But then again if it is enough for you to consider interest rates, might as well invest in mutual funds and bonds instead?
You also might want to consider the services these banks offer. Citibank is a convenient choice but I really don't think much of their service standards. Internet banking interface is a pain, they take a long time to process application and everything else. I prefer UOB and standard chartered to citibank and DBS.
fark citibank step up interest account.
when i signed, they promised 2% interest when ur balance reach a certain amount.
after a few mths, they send me a letter stating tat they r lowering the interest rate.
bloody hell.
can suka suka like tat one ah?
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Originally posted by monoslayer:
fark citibank step up interest account.
when i signed, they promised 2% interest when ur balance reach a certain amount.
after a few mths, they send me a letter stating tat they r lowering the interest rate.
bloody hell.
can suka suka like tat one ah?
Yeah they indemnified themselves. "Banks reserves the right to readjust interest rates." Haha.
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