Local Banks revise interest rates wef Oct'11

FireIce SG

With effect from 14 October 2011, the interest rates for DBS and POSB deposit accounts will be revised.

click here to see the new (pathetic) interest rates

Planet Hitman SG

With an ANZ Term Deposit you know what your return will be and you choose how long your money is invested. With a minimum investment of $5,000¹ you can choose an investment term from one month to five years. It’s up to you in Australia.

Current interest rate specials

The above rates are available for amounts from $5,000 to $99,999¹. View current ANZ Term Deposit interest rates for the full suite of investment terms.

For the interest rates available for amounts $100,000 or more, please call 1800 008 177 between 8am and 8pm Monday to Friday or visit your nearest ANZ Branch.

Like to know the return you will receive? Our Term Deposit calculator can help you calculate the expected return on your choice of investment term.

Seniors (age 60 years and over) Bonus interest rates are available on selected terms³.

Rock^Star SG

I think singaporeans are being short changed. In Indonesia, the normal savings interest rates are 10-20 times that amount. Fixed deposits can go up to 5-7% p.a.

fudgester SG

WTF 0.25% maximum for POSB MySavings?!?!?!?

Planet Hitman SG

Loor SG

For those with enough:

0.1% for $1m savings.....yes - what an attractive investement option....

single_alone SG

Current interest rate specials

The above rates are available for amounts from $5,000 to $99,999¹. View current ANZ Term Deposit interest rates for the full suite of investment terms.

For the interest rates available for amounts $100,000 or more, please call 1800 008 177 between 8am and 8pm Monday to Friday or visit your nearest ANZ Branch.

Like to know the return you will receive? Our Term Deposit calculator can help you calculate the expected return on your choice of investment term.

Seniors (age 60 years and over) Bonus interest rates are available on selected terms³.

erm what is term deposit huh?

The interest seems high.

Is it investment in which if it goes wrong, you stand to lose money?

likeyou SG

really very low interest for saving account.

people do need saving account to pay off bills etc...

i would rather park my money in fd in foreign bank than local bank.

Short changed? You bet.

Darkness_hacker99 SG

It reminds me of the module Principles of Banking and Finance, the topic on Financial System, indirect finance.

Actually we are all investors, but our returns are just 0.01%. The bank jiak our money liao. They at least jiak 6%+ net profit

Llg2178 SG

The interest rate for deposit accounts is going down.

I hope they can do likewise for the interest rate of housing loan, study loan etc.

GHoST_18 SG

wtf

single_alone SG

The interest rate for deposit accounts is going down.

I hope they can do likewise for the interest rate of housing loan, study loan etc.

You wait long long

FireIce SG

i think other local banks will be adjusting too

Meia Gisborn SG

The new rates are about on par with what banks here in the US are offering with their savings accounts. Yes, it's more than pathetic...

likeyou SG

Encourage pple not to save and spend to boost up the economy?

FireIce SG

soon the int rate will be on par with how much your biscuit tin or shoe box offer

likeyou SG

It will reduce to 0.01%.

Or there is be no saving interest rate when you place saving account. 0% interest rate.

Loor SG

For too long, banks have used our money to lend out back to us at a much higher rate and pocketing the margin.

Maybe should organise a mass revolt on a sensible scale like Curry-day, where everyone just decides to withdraw all their savings and keep under mattress. It'll be interesting to see what the banks would do then.

Just need to beef up security on that day though.....

likeyou SG

Good idea.

People put money on saving account with near zero interest rate, they use the money to promote cash line that have high interest, housing loans, car loans....they really use our money to slap our face.

FireIce SG

i dont have much money in local bank accts

but then still must have for certain transactions like pay bills, shopping........

my 棺材本 are in banks elsewhere

no, i do not have a swiss acct like u see on tv