5% p.a. is an excellent rate for a savings account where you maintain full liquidity of your funds, and there are no conditions like salary or credit card spend to achieve this rate. Most bank accounts require you to complete conditions and cap the higher rates to the first S$100,000. The 5% rate is achieved by a 2% p.a. base rate of the Wealth$aver account and a 3% p.a. bonus rate given for 6 months. The bonus rate applies to a maximum of S$500,000, and that is the sweet spot since you get additional S$1,500 for depositing S$500,000. Otherwise, even S$200,000 deposit is enough for 5% p.a. interest which is actually relatively hard to come by despite the current high interest rate environment. You even get a swanky metal debit card, if that’s your kind of thing. If you don’t have S$200,000, there are still other accounts you can look at:...