AngBao Budget for Singaporeans

SURPLUS SHARING 2008
- Growth Dividends
- Top-ups to Post-Secondary Education Accounts (PSEA)
- Top-ups to CPF Medisave Accounts
- Personal Income Tax (PIT) Rebates
- Assistance through Citizens’ Consultative Committees (CCCs), Self-Help Groups and Voluntary Welfare Organisations (VWOs)

OTHER MEASURES THAT BENEFIT HOUSEHOLDS AND INDIVIDUALS
- LIFE Bonus (L-Bonus)
- Increase in Singapore Allowance (SA)
- Encouraging Voluntary Savings
- Estate Duty to be abolished

Refer to Singapore Budget 2008 Website

Recommended places to Save your Money

Although higher interests can be earned form savings plans and investments, some liquidity is still needed from the day to day basis. In Singapore, majority of the banks offer low interest rates at about 0.25% per annum. However there are some banks/institutions that offer slightly better returns. Introducing to you two of them:

Standard Chartered Bank

Less than S$50,000 --- 0.80% p.a.
S$50,000 - $199,999 --- 1.20% p.a.
S$200,000 and above --- 1.40% p.a.

Fundsupermart

View rates here

Introduction

As the need for financial education and awareness is increasing, many Singaporeans attempt to obtain such information on the Net but rarely is there a site that dedicates such information to Singaporeans.

This blog attempts to provided updated news and relevant tips on personal finance for the majority of Singaporeans.