Interest rates of Singapore Banks and Finance companies can be found on this MAS web site:
http://www.mas.gov.sg/data_room/Financial_Databases.html
Interest rates for savings accounts is just around 0.25%, a meagre $25 for every $10,000 saved. In fact interest rates in Singapore is actually one of the lowest in the world. Fixed deposit interest rates (1 year) is slightly higher at 0.84% to 0.87%. If you are over 55 years old, you get about 1%.
To obtain better returns we have to explore other avenues.
Stop working hard for money. Make your money work hard for you.
Saturday, September 22, 2007
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