GXS Bank has announced an increase in the maximum balance per GXS Savings Account, raising the limit to S$95,000 effective March 20, 2025.
This enhancement provides customers with more room to grow their savings while continuing to benefit from the bank’s competitive interest rates and innovative features.
With this adjustment, customers can now earn approximately S$2,288 in annual compounding interest on a S$95,000 balance within a Saving Pocket, compared to around S$1,806 previously when the maximum balance was S$75,000.
This translates to an additional S$480 per year that customers can reinvest or allocate toward their financial goals.
The GXS Savings Account was designed to eliminate unnecessary fees, such as fall-below charges, and to introduce daily interest crediting, allowing customers to benefit from compounding interest every day.
The bank’s Saving Pockets and Boost Pockets features further support customers in managing their finances efficiently, offering 2.38% per annum on funds in Saving Pockets and up to 2.78% per annum in Boost Pockets.
In comparison, MariBank offers a base interest rate of 2.50% per annum on all balances, with a maximum deposit limit of S$100,000.
However, this base interest rate is set to decrease to 2.28% per annum starting April 1, 2025.
Trust Bank, on the other hand, provides an interest rate of up to 2.75% per annum on deposit balances, with a significantly higher maximum deposit limit of S$800,000.
Featured image credit: edited from freepik
