RHB High Yield Savings Account Reviews and Comparison - Seedly
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RHB High Yield Savings Account

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RHB High Yield Savings Account

Up to 1% p.a.
INTEREST RATES
$1,000
MIN. INITIAL DEPOSIT
$1,000
MIN. AVG DAILY BALANCE

    RHB High Yield Savings Account

    Up to 1% p.a.
    INTEREST RATES
    $1,000
    MIN. INITIAL DEPOSIT
    $1,000
    MIN. AVG DAILY BALANCE

Details

Highest Interest Rates for RHB High Yield Savings Account

  • Base Interest Rate starts at 0.08% p.a.
  • Enjoy up to 1.00% p.a. on your deposits.
  • To be eligible for the 1.00% p.a., account holders need to deposit at least S$10,000.
Read More about RHB High Yield Savings Account
Reviews (1)

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  • Updated on 22 Apr 2020

    Purchased

    RHB High Yield Savings Account

    The savings account on promotional offer is one of the better rates in the market. But the application process and online banking have to be improved as it is so yester-years. With no online or mobile banking application now it is hard to bank more with them.
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The non-promotional interest rates per annum are as follows:

  • 0.08% p.a. for a deposit amount below S$10,000
  • 1.00% p.a. for a deposit amount of the next S$90,000
  • 0.08% p.a. for the remaining balance above S$100,000

Deposit Amount (S$)

Interest Rate (% p.a.)

Below S$10,000

0.08% p.a.

Next S$90,000

1.00% p.a.

Remaining Balance Above S$100,000

0.08% p.a.

Interest Rates during non-promotional periods

How to maximise the interest rate for RHB High Yield Savings Account?

  • To reap 1.00% p.a., keep your account balance between S$10,000 - S$100,000

Other Features of RHB High Yield

  • Allows you to receive your earnings at a decent interest rate, with no lock-in period
  • Enjoy convenience and accessibility to your funds
  • Maintain an average balance of S$500 and RHB will waive the S$10 monthly minimum balance fee.

Is High Yield the best savings account for you in 2020?

Pros

  • Simple and straightforward savings account - ideal for people looking for a fuss-free, park-and-save savings method
  • Although not the best, High Yield has a pretty decent base and starting bonus interest rate

Cons

  • Not ideal for people who cannot maintain a balance of at least S$10,000 - S$100,000
  • Does not incentivise spendings hence not for those who intend to spend from this account

Want to know how RHB High Yield compares with other savings accounts? Here's a compilation of The Best Savings Accounts in 2020

Terms and fees for RHB High Yield Savings Account

  • Initial deposit: S$1,000 (New-to-Bank) / S$20,000 (Existing-to-Bank)
  • Minimum Average Daily Balance: S$1,000
  • Fall below fee: S$10 (if your average daily balance falls below S$500)
  • Early closure fee: S$30 if below 6 months

Eligibility: who can apply for RHB High Yield Savings Account?

  • Citizenship status: Singaporeans, PRs and foreigners
  • Minimum age to open an account: 18 years old

How to apply for RHB High Yield Savings Account?