The inevitable has arrived. Here is all the downward revision in interest rates on your bank deposits.

Stanchart Jumpstart (From 2% p.a. to 1% p.a.)

Stanchart is revising the interest on JumpStart from 2% to 1% starting 1 July 2020. Assuming you maxed out the deposit cap of $20K, then your monthly interest should fall from $33 to around $16.

Stanchart Bonus$aver Account (From up to 3.88% p.a. to 3% p.a.)

Another popular savings account, the Stanchart Bonus$aver Account, is cutting interest rates across salary, invest and insure categories. In addition, only up to $80K (from $100K) of your deposit balance is eligible for the bonus interest rates. View the changes here.

OCBC 360 (From up to 3.35% to 2.15% for balances up to $70K)

For OCBC account holders, interest rates on your salary crediting will now be halved to just 0.6% from 1.2% for balances up to $35,000. For those with balances from $35,000 to $70,000, the interest rate is also halved from 2.4% to 1.2%....