We went through some of the terms and conditions of the POSB to give you a full picture and the things you need to know about it!
The new Savings Plan, known as POSB Save As You Earn (SAYE) aims to help NSFs earn more interest on their savings and enjoy cash rebates when they spend money.
NSFs will earn
1) 2% interest (per year) on their savings for the first 2 years
2) 2% cash rebate on local MasterCard contactless transactions
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Terms & Conditions for earning 2% Interest
1) Credit your monthly NS allowance into your bank account that is linked to POSB SAYE account
2) Transfer a minimum amount of $50 each month into your POSB SAYE account
Terms & Conditions for earning 2% cash rebate
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