MayBank's iSAVvy Savings Account Interest Rates is to drop for the 3rd time since its launch.
From 4th February 2008 onwards, iSAVvy Savings Account with daily balance of S$5K to below S$50K will be revised to 1.08% from previous 1.68%. It has since revised their interest rate from 2.38% to 2.08%, 1.68% and then now to 1.08%. iSAVvy's competitor Standard Chartered's e$aver is now offering 0.8%.
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http://hongjun.blogspot.com/2008/01/standard-chartereds-eaver-accounts.html
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It's sucks having this rate.
ReplyDeleteSeems that I have to turn to money market funds to save money...
We are in risk of moving in the direction of what Japan is experiencing - Carry trade
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