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Hence, fixed deposits became the preferred choice for Singaporeans to store their savings as they offer relatively higher interest rates as compared to an average savings account and yet are covered by Singapore's deposit insurance up to a maximum of $100,000 for each bank or finance company. SSBs are completely covered by government guarantee ...
The Central Provident Fund Board (CPFB), commonly known as the CPF Board or simply the Central Provident Fund (CPF), is a compulsory comprehensive savings and pension plan for working Singaporeans and permanent residents primarily to fund their retirement, healthcare, and housing [3] needs in Singapore.
A fixed deposit (FD) is a tenured deposit account provided by banks or non-bank financial institutions which provides investors a higher rate of interest than a regular savings account, until the given maturity date. It may or may not require the creation of a separate account. The term fixed deposit is most commonly used in India and the ...
Hong Kong Deposit Protection Board is an independent and statutory institution formed to manage and supervise the operation of Deposit Protection Scheme. The maximum protection amount of deposit was HK$100,000 in 2006 (when the Hong Kong Deposit Protection Board was set up).
The Government of Singapore invests heavily in education to equip citizens with the necessary knowledge and skills to compete in the global marketplace. [2] Singapore currently spends around a fifth of its national budget on education. [3] To boost its economic standing, the Government of Singapore created a mandate that most Singaporeans learn ...
The National Institute of Early Childhood Development (NIEC; Chinese: 国立幼儿培育教育学院) is a training institute set up by Singapore's Ministry of Education (MOE) under the ambit of the National Institute of Education (NIE). NIEC serves as a centralised institute for early childhood development, with the aim of raising the standard ...
Education spending usually makes up about 20 per cent of the annual national budget, [7] which subsidises state education and government-assisted private education for Singaporean citizens and funds the Edusave programme. Non-citizens bear significantly higher costs of educating their children in Singapore government and government-aided schools.
The Singapore Examinations and Assessment Board (SEAB) is a statutory board under the Ministry of Education of the Government of Singapore.. SEAB was established on 1 April 2004 as a statutory board overseeing national-based examinations in Singapore, including the provisions of examinations and assessment services, and the publishing of major examination results such as the Primary School ...