Are you spending all you earn or even more than you earn? Well be careful with the way you spend your money for without savings you may land in great difficulty in times of emergency. Life can throw you a curve ball anytime so save up for the rainy day.
It is essential to save a percentage of your income for the future. There are thousands and one ways to save money. If you have a tendency of spending money as soon as it reaches your hand then fixed deposits may be the perfect savings option for you. The money you put in fixed deposit can not be withdrawn within the term period specified at the time of opening the account. Your money will be safe from your own spending nature and earn a higher rate of interest than savings or current account. At the end of the term period you will get your money back with a healthy interest.
The best place for fixed deposit in Singapore is of course OCBC bank. Established in 1912, OCBC has controlled the finance sector of South Asia for long. OCBC group is the second largest finance group in South Asia and the OCBC bank has the highest ratings world wide. You can trust OCBC with your life's savings. The interest rates for fixed deposits in Singapore by OCBC bank are listed below:
- 6 month FD rate = 0.25% pa
- 12 month FD rate = 0.45% pa
- Here are addresses of some branches of OCBC bank that you can visit to clear your doubts and queries about the safety of fixed deposits in Singapore dollar.
- Ang Mo Kio branch-629 Ang Mo Kio Avenue, Singapore 560629
- Ang Mo Kio Central – 53 Ang Mo Kio Avenue, AMK Hub, Singapore – 569933
- Bedok branch – Block 204, Bedok North Street, Singapore 460204
- City Square Mall branch – 180 Kitchener Road, Singapore 208539