Come May, you will soon earn less interest on your bank deposits.

No, this isn't an April Fool's joke (although I certainly wish it was). With interest rates dropping across the globe, not to mention that of SIBOR and the Singapore Savings Bonds, we knew this was only a matter of time.

DBS, OCBC, UOB and Standard Chartered has recently announced a reduction in bonus interest rates paid out on their high-yield savings accounts. UOB One's changes are massive, whereas the least affected should be customers of DBS Multiplier.

(I'm still in shock that SSB now only yields less than 1% for the first 2 years! If you're looking for an alternative for the next 3 years, check out NTUC Income's Capital Plus with 2.13% instead here)

Here are the key changes you might wanna take note of, so you don't get a shock when you see less money in your account from next...