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J J

03 Jan 2021

∙

Do we get 2% for all the money saved every month for the POSB SAYE account?

I am looking at POSB SAYE and interested in the 2%, I have a few questions:

Do we get 2% for all $ save every month? meaning, say I save $1000 / month. will I get a 2% rate for $1000 for 1st month? and $2000 for 2nd month for 2%? and etc?
When will I get the extra interest of 2%? will it be monthly or yearly?

POSB SAYE Account

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Jiayee

03 Jan 2021

Salaryman at some company

Refer to this: https://www.posb.com.sg/iwov-resources/pdf/bank...
Refer to this: https://www.posb.com.sg/personal/deposits/savin...

From the second website, it says:

#Accumulated Cash Gift Interest earned by Month-12 will be credited in Month-13.

#Accumulated Cash Gift Interest earned by Month-24 will be credited in Month-25.

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Hey guys, I’ve been working for 2 years now and I’m just starting to be more conscious of my savings and spendings. I earn around 3k plus every month (save in normal POSB account) and save around 1k -?

I can no longer meet the conditions to earn the 2% Cash Gift in POSB SAYE Account (no monthly salary), thus receiving up to 0.25%. If that's the case, is it advisable for me to close the account and go for OCBC Frank of 0.30% for abv S$10,000 ?

Can I close and repoen the POSB SAYE account to get the 2% additional interest for another 2 years?

What should I do with my POSB SAYE account which I am coming to an end of saving $2.4K for the past 24 months?

What do I do if I have the sum of $2K in my POSB saye account which is gonna be done for 2 years? Going to ord in July this year. Continue saving or use half for vacation to de stress?

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Related Posts

Hey guys, I’ve been working for 2 years now and I’m just starting to be more conscious of my savings and spendings. I earn around 3k plus every month (save in normal POSB account) and save around 1k -?

I can no longer meet the conditions to earn the 2% Cash Gift in POSB SAYE Account (no monthly salary), thus receiving up to 0.25%. If that's the case, is it advisable for me to close the account and go for OCBC Frank of 0.30% for abv S$10,000 ?

Can I close and repoen the POSB SAYE account to get the 2% additional interest for another 2 years?

What should I do with my POSB SAYE account which I am coming to an end of saving $2.4K for the past 24 months?

What do I do if I have the sum of $2K in my POSB saye account which is gonna be done for 2 years? Going to ord in July this year. Continue saving or use half for vacation to de stress?

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