Savings account promotions

POSB is currently running a 'Get 1.55% p.a. interest for 6 months!' promotion. Check it out here.

How to get the deal?

  • Deposit fresh funds* into your POSB Fresh Funds Account by 4 August 2016.
  • Fresh funds deposit via cheque(s), cashier's order(s) and demand draft(s) must be done by 4 August 2016, 3.30pm.
  • During the POSB Fresh Funds Account opening process, you will be prompted to select an existing POSB/DBS Current or Savings Account to be used for signature reference. This same account will be used for the crediting of the Cash Gift Interest.
  • This account has no applicable fees or charges.
  • Capped at S$50,000, with no minimum amount required.
  • Maintain the fresh funds deposited in the account for 6 months until 4 February 2017.
What happens at the end of 6 months?
  • The Cash Gift Interest will be credited into your reference account by 15 March 2017. Your POSB Fresh Funds Account will thereafter be auto-closed and the funds will be credited into your reference account.

Standard Chartered Bank is running a similar promotion under its e$aver account, also offering 1.55% for <$50,000 and up to 1.7% for higher amount of deposits. However, the deal is only good till 30th Sep. Note that it is a bonus interest scheme which applies only to Fresh Funds brought in and calculated based on incremental balance in the account versus July's.

What is the bank's trending key word?

- FRESH FUND. Ah duh.

Now you know sometimes it pays to have at least 2 accounts with different banks, very literally.


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