Standard Chartered Bank to lower maximum interest rate on savings account to 7.68% from May 1

SINGAPORE: Standard Chartered Bank will be lowering the maximum interest rate on its Bonus$aver account to 7.68 per cent per annum from May 1, based on a check of its website on Tuesday (Apr 2). This is down slightly from 7.88 per cent – the highest offered by the savings account – when the bank … Read more

UOB to cut maximum interest rate for flagship savings account from May 1

At its last policy meeting, the US central bank left its benchmark overnight interest rate unchanged while holding onto its outlook for three cuts in borrowing costs this year. Fed chair Jerome Powell has said the timing of the rate cuts still depends on officials becoming more confident that inflation will continue to decline towards … Read more

Commentary: Low interest rates of ‘money lock’ are a disservice to bank customers

THE CHOICE BETWEEN ANTI-SCAM SECURITY AND HIGHER INTEREST DBS Multiplier, OCBC 360 and UOB One are what most of us in the personal finance space refer to as “high yield savings accounts”. And as a customer of all three banks, I keep the majority of my funds in each of these three accounts for the … Read more

Singapore leaders pay tribute to late banking tycoon Wee Cho Yaw

Mr Wee made “significant contributions” to the education sector, uplifting many students from all walks of life, said Education Minister Chan Chun Sing. “Mr Wee was known both for his business acumen and for giving back to society,” he wrote in a Facebook post. “Over the years, he contributed to our schools and various education … Read more