First, go through Best Singapore Bank Savings Interest Rate to find the best savings account that suits your needs.
Then, use this simple Basic Interest Calculator to calculate the estimated monthly and yearly interest you can earn for the amount deposited.
Wondering how much interest you are getting from your savings account per month?
If you are still depositing your cash into an old-school savings account like POSB (0.05% p.a.), your $10,000 could earn you about 40 cents per month.
But if you deposit the same $10,000 into high-interest savings account like CIMB FastSaver (1.50% p.a.), you might be getting S$12.50 per month instead.
That’s about 30 times difference!
You can use this simple Savings Account Interest Calculator to calculate the potential amount of interest earned.