This post is no longer accepting new comments because it has been merged with Seeing that Standard Chartered Jumpstart and OCBC 360 interest rates p.a. have been cut effective from July 1, where should I jump to for my savings?
Hello there! Alot of your similar questions have been raised today. Yes, you are right. SCB is revising its Jumpstart interest rate to 1% at the start of next month July. If you think the Jumpstart account yield is low, you might want to consider opening a Singlife account which yields 2.5% non guaranteed returns for your first $10,000. You can do a little bit of research first before opening an account with Singlife. Given that Singlife savings plan is capital guaranteed and is backed up by SDIC, I would say there are more pros than cons. One should select a product that has more pros than cons, rather than a product with no cons - because it just doesnt exist.
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Standard Chartered JumpStart Account
Up to 1% p.a.
MIN. INITIAL DEPOSIT
MIN. AVG DAILY BALANCE
DBS/POSB Multiplier Account