Personal Finance
HSBC 5.35% Savings account for April 2023
By Financial Stewardship  •  April 1, 2023
HSBC bank has just released its new interest rates for April 2023. Though it has dipped slightly by 0.2%, it is still the highest savings account in Singapore at 5.35% !!! You can also read more here: http://thesingaporemarket.blogspot.com/2023/03/hsbc-555-ega-savings-account.html Unlike OCBC360/UOB One accounts, the HSBC Every Global Account (EGA) account has no tough conditions to fulfill (eg. salary crediting, minimum spending of credit cards) https://www.hsbc.com.sg/accounts/products/everyday-global/ For new accounts opened in April, the reference month would be based on March balances which would be $0. EGA bonus interest of 4.35% would be applicable for the next 4 months of April-June. There's also a 1% cashback reward for incremental balances from previous month. Applicable for the first 2 months (Apr & May) and thereafter you may choose to either withdraw all your funds (remember this is a savings account!) in Jun, leaving just $2k balance to avoid the fall-below fees, and then redeposit again on 1 Jul 23. Alternatively, you may choose to let the...
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By Financial Stewardship
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