Monday, August 11, 2014

Singapore UOB Bank Savings account compound interest rate per annum is circa 0.046%

Singapore UOB Bank Savings account earns depositor ~ 0.046% per annum of compound interest rate (calculated per month). If you have sgd 1000, you would earn average per month ~ sgd 0.038 and a total of sgd 0.42 per year (or 40 cent).

In summary, sgd 1000 in the bank gives you 40 cent after a year (rough estimate).

Note that the interbank rate in Singapore is very low at around this value.

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