The interest rates for fixed deposit and savings accounts are being cut.
This article was first published on 07 April 2024.
Like many others, my April started with the search for a savings account.
This came after UOB announced that it would be cutting interest rates on the UOB One account, which currently offers an effective interest rate of up to 5% p.a.
So one of the things we did this week was to find the savings accounts which offers the best interest rate, so as to decide what we should do come 1 May.
To help you decide, we also built a calculator to compare the interest rate you would earn on the UOB One and OCBC 360 account.
The cut in interest rate should not be a big surprise, as fixed deposit rates have been falling in recent months.
We find out what this decline in interest rates would mean for the ...
