Thursday, November 10, 2011

Interest rate on bank deposits

Which bank offers the best interest rate on fixed deposits in Singapore? The lowest interest rate for 12 month deposit is 0.075% (less than 0.1%) and the highest is 0.625% (less than 1%).
Find out from FISCA website, http://easyapps.sg/assn/Org/Information.aspx?id=5

Should you invest in foreign currency to earn a higher interest rate? Here are the tips. Remember to consider the cost of coversion from Singapore dollar to the foreign currency and converting back. After considering this cost, and considering that the interest rate is so low, it is not worth investing in foreign currency. Read this:
http://tankinlian.com/Admin/File.aspx?id=91&PK=49eface4e1da102d8bb0a4b0889554e4