Interest Rate High Yield Savings Account

Interest Rate High Yield Savings Account – This article was written in collaboration with RHB Singapore. Despite our financial compensation from them, we strive to maintain editorial integrity and review products with the same lens. We are committed to providing you with the best information so you can make personal financial decisions with confidence. You can view our editorial guidelines here.

High-interest savings accounts offer a great way to make your cash savings work for you more efficiently—and promise to be the easiest way to earn the highest interest rates on the market.

Interest Rate High Yield Savings Account

Interest Rate High Yield Savings Account

However, many of these accounts can be quite complex and require a lot of effort – just as problematic, you have to carefully analyze the terms and conditions of the product, the mechanics of earning interest, etc., to really estimate how much you can wind up with from the account obtained from .

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Some of the issues we have come across range from bonus interest rates offered at a variety of confusing levels, to requiring you to meet a number of criteria to get a rate increase, and trying to understand the mechanics of these accounts can make you pull your hair out.

In fact, average users like you and me won’t earn more than 1% interest on most accounts, especially in this low interest rate environment. That’s often a far cry from the top rates banks tout when they’re marketing savings accounts.

As you can see, we have a lot to complain about when it comes to growing your cash savings. But we are problem solvers, and we have found a way to solve these problems.

Signing up for a savings account can require you to fill out a bunch of paperwork and then go to the bank and wait a long time. I’m not sure about you, but queuing at a bank is one of my least favorite ways to spend my free time.

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The RHB High Yield Savings Plus Account is one such account that offers a painless account opening process. You can open an account online and start trading instantly using the RHB Mobile Banking SG app, filling in your details instantly through MyInfo.

In the time it takes you to read this article, you can fill out the application form for your RHB High Yield Savings Plus account, even if it’s 2am and you’re still in bed.

Lower fees are a bank account owner’s worst nightmare, and they’re so brutal – when you’re trying to save, you’re penalized for not having enough!

Interest Rate High Yield Savings Account

These fees are charged when your account balance falls below a certain amount. When you don’t have enough money, not only do you lose money, but the fees wipe out most of the interest you’ve worked so hard to accumulate over months and years.

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To avoid commission drops, you need to keep an eye on your bank balance and avoid withdrawing money after a certain point.

Or you can simply choose a bank account with affordable fees, such as the RHB High Yield Savings Plus account.

With no lower fees, every penny of interest you earn is yours, no matter how much you hide in your account.

So many savings accounts actually require a Ph.D. to understand because they require you to complete certain tasks and meet multiple criteria to qualify for a bonus — not including the various terms and conditions or exclusions you need to consider. Some savings accounts divide their bonus interest into tiers, and you clear each tier to move up.

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These tasks can include monthly credits to your salary (and there is a minimum amount), investing in the bank, purchasing certain insurance products from the bank, spending a minimum amount on a certain credit card or maintaining/increasing a minimum savings amount or bank balance.

These complicated mechanisms are a nightmare for customers looking for a simple and hassle-free banking experience. Life is stressful enough without complicating it.

Once again, the RHB High Yield Savings Plus account removes all the confusion and offers a simple and easy to understand interest structure. Best of all, there are no hoops to jump through, and customers won’t struggle to meet unattainable expectations.

Interest Rate High Yield Savings Account

From now until 31 December 2021, RHB High Yield Savings Plus account holders can earn a 1% bonus* on increased bank deposits. That’s an extra 1% per year. above prevailing interest rates.

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Below are the prevailing interest rates for the RHB Savings Plus High Yield Account as of November 2021:

From now until December 31, 2021, a 1% annual bonus will be calculated on your incremental account balance (ADB) when you top up your account with new funds. This is based on the sum of the account balance at the end of each calendar and the number of days in a given month divided by the number of days in that month.

There are no complicated eligibility requirements and no minimum amount required to take advantage of this promotion – just top up your account with new funds during the promotion period and you will automatically earn bonus interest. Your money will not be frozen, so you can be sure your savings will remain liquid.

The offer is also open to new and existing customers. Easily transfer funds to your account with Mobile Banking from the comfort of your home.

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1% annual dividend interest can go a long way. This passive interest can fuel growth in your emergency savings, travel fund, children’s education fund, and more, helping you reach your goals faster.

As the year draws to a close, it’s time for all of us to do our annual review, revisit our savings habits, and decide if a new account is needed

You will likely find that you have new funds that you can deposit into your RHB High Yield Savings Plus account to earn 1% p.a. dividend.

Interest Rate High Yield Savings Account

For example, maybe you recently changed jobs and spent less during the trial period of your new job, and you’d like to earn higher interest on your savings. Or maybe you’ve been saving for an upcoming VTL overseas trip, your next Black Friday big purchase or even a 2022 CNY red envelope for the past few months, and could really benefit from RHB’s 1% pa. Bonus interest, making that amount grow a bit faster.

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Whatever your situation, there’s never been a better time to take a look at your finances and see how you can make your money work for you more effectively with an RHB High Yield Savings Account.

The RHB High Yield Savings Plus Account offers attractive interest rates without fees or lock-in, while maintaining a refreshing simplicity.

*Full terms apply for RHB High-Yield Savings Plus Account Campaign – Q4 2021. Visit https://rhbgroup.com.sg/rhb/personal/hysa for details.

Deposit Insurance Scheme SGD deposits of non-bank depositors and SGD-denominated currencies and deposits under the Supplementary Retirement Scheme are insured by the Singapore Deposit Insurance Corporation up to a total amount of SGD 75,000 per depositor per member by law Scheme .

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Interest Rate High Yield Savings Account

If you’re looking to grow your savings, a high-yield savings account is the ideal place to put your money safely and earn great interest. Whether you’re building an emergency fund or saving to buy a house, this type of savings account can help you meet your financial goals.

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But what is a high-yield savings account? How Do High Yield Savings Accounts Work? Start your savings journey by learning the basics, including how to open a high-yield savings account and how these differ from other types of bank accounts.

A high-yield savings account, also known as a high-interest account, is a

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