Personal Finance
GXS Bank is offering 3.48%! Should you rush to deposit?
By Singapore's Budget Babe  •  July 20, 2023
When GXS Bank launched late last year, there was little incentive to sign up because the deposits were limited to only $5,000. However, now that GXS has raised the deposit cap to $75,000, is it worth switching over? The short answer is – yes – especially if you’re looking for a savings account that has the following features:
  • offers an attractive 3.48% p.a. interest rate on your cash
  • no need to maintain a minimum balance
  • no lock-in period
  • no hoops to jump through for higher interest i.e. no salary crediting / GIRO / bill payments / credit card spend needed
  • no tiered interest
Image credits: Christopher How Note how the interest is applied from your very first dollar to the last, instead of the usual tiered interest levels that we’ve seen the local banks go for. With the above features, those of you who are tired of having to jump through hoops to earn your bonus interest can check out GXS for a fuss-free alternative....
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By Singapore's Budget Babe
Budget Babe is an ordinary lady striving to achieve financial freedom in Singapore before the age of 45. She is always looking for cost-effective ways to live a fulfilling life in amidst Singapore's rising costs, and writes in order to empower fellow Singaporeans on taking charge of their own lives and finances. The final goal is to eventually break free from the competitive rat race. Will I meet you there? ...

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