Long story short: Stanchart’s latest JumpStart account is a super simple, no-fuss 2% high interest savings account with no minimum deposit, no fall below fees, no salary credit, investments or insurance needed, and no monthly minimum spend on your credit cards.
When I was in university 3-4 years back, or maybe even before that during NS, high savings accounts were not as common as today. Back then, when treasury yields and banks interest rates were low, we didn’t have much of a choice when it comes to simple savings accounts. Most of us would have settled for the default savings accounts which created by our parents when were much younger offering meagre 0.05% of interest annually.
Working adults have more options, back then and today. With majority of the local banks offering high yield savings accounts requiring some sort of salary crediting or credit card spend, fuss-free options