Never before have I been so keen to take up a promotion I received via email. Within 30 minutes of receiving the POSB MySavings Account emailer, I was drawn to the flexibility and higher interest rates being offered and submitted my application online for an account. What exactly is it about MySavings Account that is so attractive? For a huge bulk of us, POSB/DBS had remained our main bank because of the legacy of POSB being a people's bank. That implies that much of our cash is lying in standard savings account earning measly 0.25% p.a. interest. MySavings Account actually offers a way out by dangling special interest rates as high as 1.5% per annum, 6 times higher. $50 - $290 : 0.45% $300 - $790 : 1.00% $800 - $1,490 : 1.20% $1,500 - $3,000: 1.50% What's more is that there is flexibility to increase or decrease the monthly savings amount and even amend the monthly savings date anytime. I went for the 2nd tier amount in order to enjoy the 1% interest rate but
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