Wednesday, January 30, 2008

A Reason to save lesser?

Got a mailer today from a bank informing me that savings rate with them will be changed with effect from 1st March 2008.

























Savings AccountOld RateNew Rate from 1st March 2008

First S$3,000

0.2500

0.2500

Next S$47,000

0.3000

0.2750

Next S$50,000

0.4000

0.3750

Above S$100,000

0.5000

0.4750




Looks like they are encouraging people to save lesser with the bank. More then $3000 in your account, and you get lesser interest per annum.... so does that mean they want you to spend all your money?

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