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In 1984, the current account facility was introduced, and by 1986, deposits crossed the S$10 billion mark. In March 1990, the Post Office Savings Bank was renamed as POSBank. Acquisition by DBS Bank
Savings interest rates today: High-yield accounts still offer yields up to 5.10% even as Fed cut looms — Dec. 12, 2024
In June 2023, DBS was fined S$2.6 million by the Monetary Authority of Singapore (MAS) for breaching anti-money laundering and countering the financing of terrorism requirements, in a matter related to the German payments provider Wirecard scandal between July 2015 and February 2020, in relation to the accounts of 11 corporate customers. [52]
The meteoric 525 basis-point rise in interest rates from 2022 to 2023, has been an unusual phenomenon for CDs and savings accounts. Outside of this current rate cycle, top APYs are the highest ...
As the Fed rate rises, so do APYs on savings accounts, CDs and money market accounts — with today’s rates on the best high-yield savings accounts topping 4% APY.
In 2001, Singaporean DBS Bank acquired Dao Heng Bank from Guoco Group, then privatized and delisted it. [4] On 21 July 2003, DBS Bank merged Dao Heng Bank, DBS Kwong On Bank and Overseas Trust Bank to form DBS Bank (Hong Kong) Limited .
Savings rates and high-interest accounts in the news. Savings rates strongly correlate with the target interest rate set by the Federal Reserve, the country’s central bank. This Fed rate is the ...
Savings rates and high-interest accounts in the news. ... It's widely expected that the Federal Reserve will hold the fed rate at its current 23-year high at its next policy meeting on June 11 and ...