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4.421 reviewsDBS Multiplier
Switched over from ocbc360 to the new dbs multiplier last month. It was a seamless process which took 5mins or less via iBanking. I think this would be a better savings account for a miles chaser like myself. For me, the multiplier was naturally better since I was already using altitude/wwmc. Uob is out since they excluded all their miles earning cards. My Ocbc 360 tgt with the titanium rewards card was pegged at 1.85% max. The multiplier was 1.85% when my total transaction was below 5k. Which means, thee more I earn/spend, the possibility of higher interest rate. What's not to love! Plus,having dividends credited to my Posb account was considered under the 'invest' category in dbs. Satisfying 2 categories, I could bump my interest rate even higher on certain months with dividends.
3.718 reviewsOCBC 360
Started off with FRANK, found OCBC easy to use and as they market it, no strings attached, no hiding behind T&Cs. Hence it was a no brainer when it came down to choosing a savings account. ATMs are very easily accessible, probably better than POSB/DBS since the lines are never long + you can draw up to 3 times per month for free through UOB ATMs Initially did not manage to get too much value from the bonus interests (only got the salary one) due to not being a big spender and preferring to spend in cash (easier to track expenditures). Also did not think that I'd be able to spend >$500/month on credit cards. But one day I got a call from OCBC and they offered me the 365 + titanium card for free, with 2 years annual fee waiver. So why not? That's when I switched to paying via credit card and found that I actually could hit the min spend to gain the bonus credit card spend interest PLUS it helped add that to the bill payments bonus. So yeah, I'm a really happy OCBC customer.
4.715 reviewsCIMB FastSaver
Am using CIMB FastSaver and I like it because 1) No T&C (e.g. Min. monthly spend, charge bills to this account etc) 2) 1% interest on an account meant to keep growing my money (Quite far from the $50k mark so not an issue for now) 3) Fully liquid (Am not penalised for withdrawals) 4) No ATM card also helps me to not touch my money. 5) I could set it up online ,with some mailers (PIN and internet banking token). Pretty convenient 6) No min. balance 7) Allows for FAST transfer so I can move my money from bank to bank real quickly What I don't like: 1) The interface of the cimb internet banking is a little bit unfriendly - But that also helps me want to touch it less as I hate to login to transfer funds.
4.39 reviewsUOB One
UOB One's 3.33% seems impressive but it's been more of a well-marketed campaign than anything. You need to hit a lot of targets e.g. $500 monthly spending while keep $50,000 consistently in the account. The credit card spending is also tricky since the amount is not counted on the day you spend, but when the transaction is processed...so spend early in the month! The 3.33% is also not fully earned on $50k, but in stages of $10k and $20k respectively. Overall a bit difficult to manage and process can be tiresome e.g. GIRO arrangements, checking credit card bills, etc. Would recommend product to a HNWI (High Net Worth Individual) with regular and high spending patterns.
5.03 reviewsMaybank SaveUp
My husband and I applied maybank saveup joint account as we have applied housing loan through maybank, with his salary crdeit and $300 giro bills we can enjoy up to 3% interest. I'm very happy with it so far. This maybank account meant for saving so much transaction done, thus I'm ok with their internet banking design.
4.03 reviewsBOC SmartSaver
Interests are based on min amount ($60,000), good choice if your salary is >6,000 due to salary credit (1.6% for SALA >6,000 via Giro). And you are eligible when meet 1 of 3 criteria. But bill payment must be >$35 per bill for getting the 0.8% interest and card spending 1,500 per month. BOC extended the # of ATMs and share ATMs with Maybank when you see the logo "ATM 5", you can find 3 nearby ATMs if stay in Serangoon and AMK due to new branch in AMK HUB L3 and 2 ATMs in NEX shopping mall.
5.01 reviewsSCB Bonus$Saver
I have been using the SCB Bonus Saver since i graduated and started working in August 2017. I understand that most people prefer to stick to DBS or use OCBC 360 because it is one of the more popular and safer options out there. But upon careful research, i realised that the SCB Bonus$aver has one of the most attractive bonus interest rates out there and would like to leave a positive but neutral review to educate fellow Seedly users. Currently, i am getting 1.88% with the SCB and this 1.88% stems from a 1% salary credit (which incidentally must be more than $3000 credited with a SAL code, your HR employer will know what this is.), a 0.78% card spend (all Mastercard Or Paypass spend, NETS and Transitlink expenditure is NOT included.) as well as the prevailing base interest of 0.1% (this means that lest you are unable to qualify for the salary credit and card spend, you will only qualify for a paltry 0.10%.) I do not have 3 bills monthly to pay hence i am missing out on a further 0.25% (3 bills of $50 each.) and could be earning up to 2.13% (1.88%+0.25%). However, assuming i have a monthly credit card bill as well as a phone bill/internet bill to pay, this will be attainable in the near future. Explaining further in depth, i understand that the 1% salary credit as well as the requirement to take home $3000, which requires a gross pay of around $3750 and above might be unattainable for fresh graduates, yet the unique selling factor for me is the 0.78% that you can qualify for from simply spending 500 dollars monthly. This can be achieved by offering to pay for your meals with friends or families, by inculcating a good habit of using your VISA/MASTERCARD wherever you go and only using cash when absolutely necessary. With insurance companies offering 3 year endowment plans in the range of 2-2.5%, i highly rate the 1.88%-2.13% that can be obtained, coupled with the instant liquidity of having these funds inside your Bonus$aver should you require to take out money for investment or insurance payment purposes. Moreover, you can also sign up for the SCB Online Banking which has cheaper brokerage costs as it does not have a CDP account (instead it uses SC's own custodian). This helps to have both your Bonus$aver account as well as trading securities on a single Banking App, as well as for internal transfers. I am someone who prefers having as minimal cards as possible to give myself greater convenience instead of tracking various cards to see if i have qualified for the respective criteria monthly, and recommend the SCB Bonus$aver to both credit your salary as well as spend on it.
0.00 reviewsCitibank InterestPlus
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