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RHB High Yield Savings Account

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  • Reviews (2)
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Summary

RHB High Yield Savings Plus Account

Account Features & Details

1) Key Features

  • Base interest rate: 0.30% p.a 
  • Earn up to 1.50% p.a interest rate on deposit balances above S$100,000
  • No minimum account balance required
  • No lock-in period nor fall below fees charged 

2) Interest Rates

  • Base interest rate: 0.05% p.a
  • Max interest rate: 1.50% p.a
    - First S$50,000: 1.20% p.a interest rate
    - Next S$25,000: 1.30% p.a interest rate
    - Next S$25,000: 1.40% p.a interest rate
    - Above S$100,000: S$1.50% p.a interest rate

3) Eligibility

  • Age: 16 years old and above
  • Citizenship: Singaporeans, PRs, and Foreigners
  • Minimum initial deposit: S$1,000

4) Fees

  • Minimum average account balance: S$0
  • Fall below fee: S$0
  • Early account closure: S$30 (within first 6 months of opening)
  • Passbook replacement fee: S$20

5) Application Process

How to apply?
Supporting documents
  • NRIC (for Singaporeans and PRs)
  • Employment Pass/ Work Permit/ Passport (for Foreigners)
  • Latest original copy of bank statement, utility, or teleco bill stating proof of residential address
...see more

Popular Products

Summary

RHB High Yield Savings Plus Account

Account Features & Details

1) Key Features

  • Base interest rate: 0.30% p.a 
  • Earn up to 1.50% p.a interest rate on deposit balances above S$100,000
  • No minimum account balance required
  • No lock-in period nor fall below fees charged 

2) Interest Rates

  • Base interest rate: 0.05% p.a
  • Max interest rate: 1.50% p.a
    - First S$50,000: 1.20% p.a interest rate
    - Next S$25,000: 1.30% p.a interest rate
    - Next S$25,000: 1.40% p.a interest rate
    - Above S$100,000: S$1.50% p.a interest rate

3) Eligibility

  • Age: 16 years old and above
  • Citizenship: Singaporeans, PRs, and Foreigners
  • Minimum initial deposit: S$1,000

4) Fees

  • Minimum average account balance: S$0
  • Fall below fee: S$0
  • Early account closure: S$30 (within first 6 months of opening)
  • Passbook replacement fee: S$20

5) Application Process

How to apply?
Supporting documents
  • NRIC (for Singaporeans and PRs)
  • Employment Pass/ Work Permit/ Passport (for Foreigners)
  • Latest original copy of bank statement, utility, or teleco bill stating proof of residential address
...see more

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

Reviews (2)

3.5

2 Reviews

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      Posted 11 Aug 2023

      Purchased

      RHB High Yield Savings Account

      offers higher interest rate for savings, best part: no fall below fees or need to maintain a minimum balance, recommended

      0

      What are your thoughts?

      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.

      0

      What are your thoughts?

    Discussions (0)

      No Posts Found.

      Popular Products

      Deposit Balance Amount (S$)

      Interest Rate (% p.a.)

      First $50,000

      0.80% p.a.

      Next $25,000

      0.90% p.a.

      Next $25,000

      1.00% p.a.

      Above $100,000

      0.40% 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., just keep your account balance between S$75,000 to S$100,000.

      Assuming you have an account deposit of S$100,000, you stand to earn:

      the first S$50,000 at 0.80% p.a. + your next S$25,000 at 0.90% p.a. + your next $25,000 at 1.00% p.a. = which gives you a total of S$875.

      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 starting bonus interest rate that is easily achieveable without having to meet additional criteria.

      Cons

      • Not ideal for people who cannot maintain a balance of at least S$75,000 - 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?

      • Apply Online on RHB website or Visit RHB Singapore branches
      • For Singaporeans or Singapore Permanent Residents (PR), Documents needed are Original NRIC or Passport, verified by branch.
      • For Foreign individuals, documents to prepare are: Employment Pass or Work Permit, IC or Passport,
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      Contact us at [email protected] should you require any assistance or spot any inaccuracies.