Kevin Warsh hinted of interest rate hike recently. Will local banks also increase interest rate for savers? Banks are quick to raise interest rates for credit cards but slow to increase interest rate for saving account. In Singapore, it is low 0.05% interest per annum if you don't credit your salary and saving for some local banks. I'm thinking of changing OCBC to other banks.
I'm thankful to one local bank for giving decent interest rate at about 1.5% for UOB stash account. At least every month, I have some money to buy coffee and snacks.
