|Deposit Amount (S$)||Prevailing Interest Rate (% p.a.)|
|$200,000 to below $500,000||1.08% p.a. from the first dollar|
|$500,000 to $5,000,000||1.28% p.a. from the first dollar|
|In excess of $5,000,000||1.28% for the first $5,000,000 |
and the remaining at 0.08%
Earn 1.08% p.a. with every dollar deposited, no strings attached, no multiple conditions to fulfil. There is no cap to the deposit amount.
Bonus interest earned is capped to a certain amount and over a 12-month period only. For other banks’ bonus interest accounts, interest rates are capped and only awarded if you fulfil certain conditions, i.e. minimum spend on a credit card, investment in unit trusts, loans, and signing up for insurance schemes. Failure to meet the criteria results in bonus interest rates well below stated amount.
|Period||Account balance (S$)||Interest earned|
|Jan - Mar||$200,000||$540 @ 1.08% p.a.|
|Apr - Jun||$500,000||$1,600 @ 1.28% p.a.|
|Jul*||$150,000||$10 @ 0.08% p.a.|
|Aug - Dec||$350,000||$1,575 @ 1.08% p.a.|
Total interest earned: $3,725
Interest rate comparison (S$)
|Premier Plus||$540 + $1,600 + $10 + $1,575 = $3,725|
|Other fixed deposit accounts^||$200,000 x 1.4% = $2,800|
|Premier Plus Account|
|Initial Deposit||Minimum S$200,000|
Interest rates are subjected to change without notice. Terms and conditions apply. Interest is accrued daily, compounded and credited at the end of the month. For amount less than S$200,000, the interest rate would be at 0.08% p.a. For amount exceeding S$5million, the base interest of 0.08% p.a. will apply.
Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$50,000 in aggregate per depositor per Scheme member by law.