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POSB SAYE Savings Account

 

POSB Logo

Min. Deposit
$50 monthly

Interest Rate
up to 2.05%

Review on POSB SAYE Savings Account

Pros
High interest rate for savings account
Low monthly deposit

Cons
Interest rate applied only on designated savings
Requires fixed monthly savings

 

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Details

Earn up to 2.05% p.a. (Additional 2.00% interest + 0.05% base interest) on your monthly savings for the next 2 years

 

Interest Computation

Interest
Base Interest 0.05% p.a.
Fixed Monthly Savings 2.00% p.a.
Total 2.05% p.a.

Earn bonus interest by following these steps

Credit your monthly salary into a existing POSB/DBS account and select it as the debiting account for the monthly savings contribution into the POSB SAYE Account

Determine a fixed monthly savings amount from $50 to $3,000 (in multiples of $10)

Choose your preferred monthly savings date (between the 1st and 25th day of the month)

The additional 2.00% p.a. interest will be awarded on the amount that you decide to save monthly from your salary and credited to your account in the 13th and 25th month

 

Promotions

Apply online and maintain monthly contribution of at least $50 with no withdrawals for at least a 6-month period to receive $20 Cash Gift (Valid till 12 Jan 2020)

 

Click here to go to POSB website for more details

 

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Reviews or Comments (8)

Ave. Rating:
4/5 (13)
Topic: POSB SAYE Savings Account Review
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New
Shawn
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1
0
0
Jun 2019
Shawn says...

Hello, I am a student in Singapore not earning a salary. Is it possible to credit a fixed amount from my OCBC bank to a SAYE account to replace the salary deposit requirement?

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Senior
Money Lobang
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117
37
15
Sep 2014
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Money Lobang says...

Hi,

That will not be possible as POSB requires depositors to select an existing POSB/DBS as the debiting account with specific requirements on salary crediting in order to open a POSB SAYE account.

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Tracy
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1
0
0
Jun 2019
Tracy says...

Can I open an account for my daughter who is 15 years old - to be deducted from my account monthly?

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Senior
Money Lobang
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117
37
15
Sep 2014
Top Poster
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Money Lobang says...

Hi,

Your daughter has to be at least 16 years old in order to open a SAYE account. For further enquiries please call POSB at 1800 339 6666.

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New
Owen
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2
0
Oct 2018
Owen says...

I already have salary send to my Posbank account, how do I enroll in this?

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Senior
Money Lobang
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117
37
15
Sep 2014
Top Poster
Most Likes
Money Lobang says...

Hi,

You have to open a POSB SAYE Account and select you existing POSB account as the debiting account for the monthly savings contribution into your POSB SAYE Account to qualify.

1 2 3 > Last

 

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