High interest rate bank accounts.

High interest rate bank accounts

I am an advocate for emergency funds.  And by that I mean a portion of your money, preferably 3 to 6 months of monthly expenses, kept somewhere easily accessible.  I personally prefer to keep mine in bank accounts with high interest rates.  Fortunately for us, there a quite a number available in Singapore.  We just have to break down each one and find one that suits us.
Note that below is just a simple breakdown.  Also, do let me know if I missed out something or got anything wrong.

OCBC 360

OCBC 360 is what I have been using for the past 2 years, as I mention in my first post.  It is great for people that have their salary (>= 2000 SGD) credited via GIRO.  Especially if that is the only criteria that can be met.  So far OCBC 360 yields the highest interest rate for crediting of salary only.  I am currently in the midst of shifting to UOB One account (more on this later).
Base: 0.05%
Salary: 1.2% (GIRO >= 2,000 SGD)
Payment: 0.3% (online or GIRO >= 150 SGD)
Spend: 0.3% (>= 500 SGD)
Invest: up to 1.2% (visit below link)
Extra: 1% (on first 70,000 SGD if balance is >= 200,000 SGD)
Max: 1.85%┬╣
More info:

Bank of China SmartSaver

Great for big spenders + high-income earners.  The information I got from the website was a little vague.  I would call up BOC to check on the terms just to be sure.
Base: ?%
Salary: 0.8% (2000 – 6000 SGD), 1.2 (> 6000 SGD)
Payment: 0.35% (3 transactions of >= 30 SGD via online or GIRO)
Spend: 0.8% (500 – 1500 SGD), 1.6% (> 1500 SGD)
Extra: 0.6% (fulfill any one of the above)
Max: 2.55% – 3.75%
More info:

Maybank SaveUp

Slightly different way of doing things.  Maybank’s SaveUp is easier for people with a housing loan and etc to hit the minimum requirements.  Standard means like a crediting salary, credit card use, and payment options are still available as well.  Visit the website for more info.
Base: 0.1875% (first 3k), 0.35% (next 47k), 0.3125% (anything above 50k)
     – Average 0.24625 for first 50k
1 Product: 0.3%
2 Products: 0.8%
3 Products: 2.75%
Max: 2.99%
More info:
 

UOB One Account

This is the account I am intending to move to (from OCBC 360).  Basically, I wanted an account that does not need me to credit my salary since my salary may not be GIRO-ed to me.  UOB One fits the bill, and hence the move.  I might have some difficulties hitting 500 SGD every month but we will see.  Hopefully, everything will iron out soon.  I’ll keep things posted. ­čśÇ
Base: ?%
Credit Card (>= 500 SGD) + Salary (GIRO >= 2,000 SGD) or
Credit Card (>= 500 SGD) + Payment (3 transactions via GIRO): 1.5% (first 10k), 2.0% (next 20k), 3.33% (next 20k), 0.05% (above 50k)
Max: 2.0266666667
More info:

Standard Chartered BonusSaver

This is another account that is great for big spenders and high-income earners (see BOC SmartSaver).

Base: 0.1%
Salary: 1.0% (GIRO >= 3,000 SGD)
Payment: 0.25% (3 transactions of >= 50 SGD via online or GIRO)
Spend: 0.78% (>= 500 SGD), 1.78% (>= 2,000 SGD)
Invest: 0.75%
Max: 2.13% – 3.13%┬▓
More info:

Citibank Maxigain┬│

This account is great for retirees and people who do not spend on credit cards and/or meet any other requirements.  Offering high interest rates (even though there is a waiting time), without needing to put in efforts.
Base: 0.8%
Additional: 0.1% Monthly (up to 12 months)
Max: 2.0%
┬╣ I deliberately excluded the “invest” and “extra” portions as most of us would not have 200,000 SGD in bank accounts (they should be in investments earning us more money!).  Furthermore, I do not advocate purchasing of the types of insurance they have to offer.
┬▓ Did not include investment portion as I do not advocate purchasing of the types of insurance they have to offer.
┬│ Uses SIBOR moving rate.  View website for further info.

Ms. Finding Money

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