POSB SAYE Savings Account

 

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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

Open a SAYE account online to enjoy $20 cash gift and stand to win a GoPro Hero (Until 8 Jan 2018)

 

Click here to go to POSB website for more details

 

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Reviews or Comments (4)

Ave. Rating:
4/5 (4)
Topic: POSB SAYE Savings Account Review
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New
Ang Sai See
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Nov 2017
Ang Sai See says...

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

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Regular
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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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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Regular
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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New
Helen
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Oct 2017
Helen says...

I receive my salary via cheque monthly which I will deposit to my DBS account. Is there a minimum salary requirement to open the SAYE account? If my pay is $3000, can I choose to credit the full $3000 to the SAYE account monthly?

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Regular
Money Lobang
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0
Sep 2014
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Money Lobang says...

The fixed monthly savings can be from $50 to $3,000 (in multiples of $10). However, the salary must be credited via GIRO (with transaction reference codes ‘SAL’ or ‘PAY’) instead of check. Hence, you do not meet the requirements for the SAYE Account. Please call POSB via 18003396666 for more information about the SAYE account.

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