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Kailash Gautham

07 Nov 2020

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How to calculate my SAYE interest?

I enlisted into SPF this oct.since Aug I’ve been depositing into my SAYE. My deposit amount is $700 a month.

Over the past 3 months the interest I get is only 6 cents 18 cents etc. Is this normal? How do they calculate the monthly interest? Because I’m not able to figure out the formula based on my calculations.

When should I close my SAYE account? I’m assuming when I finish my NS because after that I won’t have a steady income, I’ll be joining university. All help appreciated, thanks!

POSB SAYE Account

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YT

07 Nov 2020

Your bonus interest of 2% is only credited at the 13th and 25th month. You can close the account on the 25th month after receiving the interest.

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POSB SAYE Account

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INTEREST RATES

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$50

MIN. AVG DAILY BALANCE

Related Posts

I’m planning to credit in $800 of my salary into the SAYE Acc fr that 2.25% interest. Let’s say 1 yr in i decide to change to $500 would my interest be affected? How would the calculation be?

Hi guys, sorry if this is a dumb question. I was reading on the SPDR STI ETF, it says the dividend yield is 3.61%, compounded semi annually. So is it right to say it's interest rate is 7.22% annually?

In this low interest climate. Is SAYE a good savings account option to lose 'liquidity' for the 2% interest? I'm curious why it's not being brought up much in this forum?

May I ask about the additional bonus on CPF? Let's say I have $5k in OA and $70k in SA, does it mean that I get 3.5% interest on $5k in OA, and I get 5% interest on the first $55k in SA?

For Syfe Equity 100, the average annual return is around 13.8%. Can I calculate my projected return for 30 years with 13.8% using compound interest calculator?

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