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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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alison
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Jul 2018
alison says...

Hello - I am interested in the SAYE SAVINGS ACCOUNT. I am residing in USA. I have an existing POSB Account.

Will I qualify for this scheme if I transfer a lump sum of say, S$50,000 into SAYE Account?

How do I open the SAYE Account from USA?

Thank you and Regards

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

You can't open a POSB SAYE account as you will need a Singapore address in order to open the account. You may contact POSB at https://www.posb.com.sg/personal/contact-us.page if you need more info about the POSB SAYE account.

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Ang Sai See
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0
0
Nov 2017
Ang Sai See says...

If working part-time can open tis SAYE account..

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Senior
Money Lobang
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Sep 2014
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Money Lobang says...

Part time income is allowed as long as it is credited via GIRO (with transaction reference codes ‘SAL’ or ‘PAY’) every month to your DBS or POSB account. Do note that a minimum monthly savings of $50 is required

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Shirley
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0
Oct 2017
Shirley says...

Can I do fund transfer every month for a fixed amount to the SAYE account instead of changing the salary bank details? with the employer?

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Senior
Money Lobang
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Sep 2014
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Money Lobang says...

The salary must be credited via GIRO (with transaction reference codes ‘SAL’ or ‘PAY’) instead of fund transfer.

 

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