Friday, May 14, 2010

0% Interest Rate for your Savings Account!

Could that be a headline we will be reading in the newspapers anytime soon?
Luckily, economists are saying that is unlikely to happen in Singapore.


Read this article in the papers today
Could interest rates hit zero? - The Straits Times May 13 2010


Apparently it has happened in Japan.


Singapore Interbank Offer Rate (Sibor), which is the rate at which banks lend to each other, has fell to a new low. Because of this fall, banks has reacted by cutting the the savings rates they offer to consumers.


Do you know the savings interest rates that the banks are offering right now? 
It is about 0.1%!!! (Click here to check the savings rates online for DBS
What this means is, for a $10,000 balance in your savings account that pays only 0.1%, the grand total of your interest at the end of 1 year is $10!
Even fixed deposit rates are hovering around 0.1% to 0.7% (Click here to check the Fixed Deposit Rates online for DBS) depending on the amounts and tenure you set aside.


With the what is happening with the economies of US and Europe, the rates are expected to remain this low for the foreseeable future.


Perhaps it's time to look for possible alternatives to make your money work harder for you?
Send request or inquiries to: MyWealthModel(@)gmail . com

21 comments:

  1. Even Standard Chartered e$aver is at 0.3% to 0.5% now!

    ReplyDelete
  2. I totally agree. Standard Chartered rocks!

    ReplyDelete
  3. Standchart used to give higher interest for their e-saver..

    ReplyDelete
  4. You have to check what the rate of interest that a bank provides is and how it is calculated. Many of the bank and financial institutions needs a minimum deposit in order to open a high yield account or savings accounts.

    ReplyDelete
  5. While developing a financial plan, it would be prudent for individuals and families to seek out those banks that pay a higher than average rate of return on savings balances.guarantor loans

    ReplyDelete
  6. I'm in no doubt coming back again to read these articles and blogs.
    Yola web page

    ReplyDelete
  7. This web site is my breathing in, very great layout and perfect content material . buy cannabis online

    ReplyDelete
  8. I went over this web site and I think you have a lot of superb info , saved to my bookmarks (:. صيانة ثلاجات

    ReplyDelete
  9. It is really a great and helpful piece of info. I’m glad that you shared this useful info with us. Please keep us up to date like this. Thank you for sharing. where to buy phentermine

    ReplyDelete
  10. I like your writing style genuinely loving this internet site . ブラック融資

    ReplyDelete
  11. I’ve been absent for a while, but now I remember why I used to love this website. Thank you, I will try and check back more often. How frequently you update your site? buy contrave online

    ReplyDelete
  12. Do you mind if I quote a couple of your posts as long as I provide credit and sources back to your website? My blog is in the very same niche as yours and my visitors would genuinely benefit from a lot of the information you provide here. Please let me know if this okay with you. Thank you! dank vapes website

    ReplyDelete
  13. This comment has been removed by the author.

    ReplyDelete
  14. An attention-grabbing dialogue is value comment. I’m sure that its better to write on this topic, towards the often be a taboo topic but typically persons are not sufficient to speak on such topics. To another location. Cheers pdf

    ReplyDelete
  15. I am often to blogging and i genuinely appreciate your articles. The article has truly peaks my interest. My goal is to bookmark your site and maintain checking choosing details. gaming overlay

    ReplyDelete
  16. Hey! Good stuff, do tell us when you finally post something like this! dark market url

    ReplyDelete
  17. Hey! Good stuff, do tell us when you finally post something like this! buy youtube likes

    ReplyDelete
  18. Great – I should definitely say I’m impressed with your web site. I had no trouble navigating through all tabs as well as related information. It ended up being truly easy to access. Great job.. Jack Mason profile

    ReplyDelete